NEWS RELEASE
San Francisco, May 5, 2014 – Patch of Land and WealthForge today announced a collaboration to help make online real estate investing, specifically into real estate loans, more accessible for accredited investors. Patch of Land, a real estate crowdfunding platform and online lending marketplace, which to date has funded more than $2.3 million in real estate transactions through a mix of its own pre-funding mechanism and accredited investors is working with WealthForge as its broker-dealer. WealthForge, which helps enable online private investments in a variety of industries, provides its clients with the technology and oversight needed to complete transactions within applicable regulations. The announcement was made at LendIt, the world’s largest peer-to-peer and online lending conference.
“Working with WealthForge provides an added level of oversight for our clients, ensuring our investment offerings are compliant.” Says Jason Fritton, COO and Co-Founder of Patch of Land. “The partnership frees up more time and energy to investigate and select the best real estate opportunities for our investors, and that’s the right place for our focus.” “Patch of Land is experiencing tremendous growth – funding 10 properties in just 7 months. As we continue to expand our investor community and our focus on asset-backed real estate debt, we felt it necessary to align with an established broker-dealer fully capable of handling our increasing volume levels in accordance with applicable regulations.”
Although crowdfunding real estate investments is an emerging space, WealthForge recognized that accredited investors could benefit from online marketplaces several years ago, operating as a member of the Financial Industry Regulatory Authority (FINRA) since 2011.
“Patch of Land is an online real estate venue for accredited investors at the forefront of a highly successful space,” said Mat Dellorso, co-founder and CEO of WealthForge. “As it continues to satisfy investors and rebuild communities in the process, we are onboard to be the back-end pipeline that supports its growth, facilitating each investment in accordance with the proper regulations. Our team is in place to provide a seamless and compliant investor experience that Patch of Land investors are already familiar with. ”
Both Patch of Land and WealthForge are attending LendIt. To speak with either company, please contact:
· For Patch of Land, AdaPia d'Errico, (888) 959-1465, [email protected]
· For WealthForge, Stacey Brucia, 804-381-5132, [email protected]
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About Patch of Land Inc.
Patch of Land Inc. aims to solve the problem of inefficient, fragmented and obscure real estate lending by using the latest technology, data and process efficiency to more accurately assign risk profiles and project viability, while greatly reducing time and cost of loan underwriting for borrowers with real estate projects that are overlooked or rejected by banks and traditional lenders.
Patch of Land is a privately owned company based in Los Angeles, CA, which provides accredited investors unprecedented access to real estate debt investments through an online peer-to-peer crowdfunding platform. Patch of Land does not make recommendations or offer investment, financial, legal or tax advice.
About WealthForge LLC
WealthForge Holdings, Inc. is a firm that enables online private investments – investments made in companies, particularly small businesses and startups, that are not on a public exchange. WealthForge provides the technology and oversight needed to complete these private investment transactions within SEC regulations through its wholly-owned licensed broker-dealer subsidiary.
Some of WealthForge’s services include compliance, investor verification, transaction processing, shareholder services and access to larger pools of capital. WealthForge’s broker-dealer subsidiary has been operating as a member of the Financial Industry Regulatory Authority (FINRA) since 2011.
The company is headquartered in Richmond, Va. To learn more about WealthForge please visit: www.wealthforgellc.com
The content of this press release is provided for educational and informational purposes only and for no other purpose.
