There is no doubt that 2016 was an amazing year for Sharestates; with company growth from 3 to 40 team members, and booming business it’s been a year to remember.
2016 was our best year yet! In addition to company and platform growth, our investors enjoyed zero loss of principal and net annual returns of 11%. Here are some of our highlights:
Raised Over $100 Million Through Online Platform
Sharestates kicked 2016 off with a major announcement, in March 2016 the crowdfunding platform raised over $100M from individual and institutional accredited investors online. Sharestates made headlines along with this announcement as the company released that about 80% of Sharestates crowdfunding dollars come from investment funds and 20% came from more traditional crowdfunding investors. Thanks to Sharestates underwriting experience and selectivity, Sharestates investors have lost none of their principal investments. Our industry peers and supporters have also helped Sharestates achieve this milestone through their commitment and tenacity.
Exceeded $1.3 Billion in Capital Commitments
In September, Sharestates raised $1.3 billion in committed capital for the purchase of loans. According to Sharestates CEO and Co-founder, “The process to onboard these funds was extremely difficult – requiring multiple site visits, third party reports, and vetting of our entire operational process from application to post closing practices.”
Series A Funding Round
As of November, Sharestates started a Series A funding round on SeedInvest. Our goal is to raise $1.74 million which is part of a $3 million preferred equity funding round. With this opportunity not only can people invest in our projects but also our company itself. The Series A will help Sharestates grow and form a foundation for upcoming years.
Over 220 Million Originations
Sharestates hits the mark of $220 million originations which means that we have more capital to put towards our real estate projects. The total number of projects that were funded in the past twelve months is a soaring number of 175 projects. Most of the projects that were funded are located on the East Coast, but Sharestates can fund projects as far West as Illinois. The average Sharestates loan size over time is $728,000.
Sharestates Gives Back
In addition to company milestones, Sharestates is honored to have been able to give back. In the month of December, Sharestates gave over 500 turkeys, hats, gloves, and scarves to two special communities. The giving didn’t stop there, Sharestates also conducted a holiday toy drive and donated toys to the children of a local Synagogue.
As we wrap up an amazing year, we are grateful for our client base and supporters as well as our Sharestates team members. Sharestates is a company that is transforming the world of real estate investing; we are lucky to have a team that is eager, ambitious, and hard working.
Sharestates is excited about the new year and the opportunities that 2017 will bring. The future is bright, and we are looking forward to bringing our users, supporters, and community better opportunities.