AssetAvenue, a US-based online platform for commercial real estate loans, raised $11m yesterday in a series A round featuring China-based internet company NetEase.
The round was led by venture capital firm DCM Ventures and included participation by private equity investment firm Matrix Partners.
NetEase and Matrix previously invested in AssetAvenue’s $4m seed round in June 2014, together with startup accelerator Launchpad LA, BAM Ventures and Vectr Ventures.
Founded in December 2013, AssetAvenue leverages its innovative technology platform to provide bridge financing from $250,000 to $25 million per property. Qualified investors can participate in funding with as little as $5,000, or fund loans through the company’s Whole Loan Program.
AssetAvenue will use the funding to further invest in its technology and plans to enhance its lending platform with additional product developments. It will also expand multiple departments within the company and ramp up its marketing and sales campaigns.