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PeerStreet Picks Up $60M In Series C

Los Angeles-based real estate loan marketplace PeerStreet, which is led by CEO Brew Johnson, has raised $60M in a series C funding, the company said this week, and also secured $4.25 billion in new capital commitments from institutions to purchase loans on its platform. According to PeerStreet, the equity funding round was led by Colchis Capital, along with an un-named consortium of institutional investors. The company said that Andreessen Horowitz, World Innovation Lab and Thomvest Ventures, all existing investors, also participated. PeerStreet's online real estate marketplace makes it easier for individuals to access real estate debt investments. PeerStreet says that it uses software algorithms--as well as manually review by in-house real estate and legal teams--to aggregate real estate loans for institutional and accredited retail investors, who in turn provide PeerStreet-approved lenders with capital. Those lenders then make loans to end borrowers who buy properties, improve them, then either sell them to homebuyers or rent them out to tenants.