Sourced Capital provides asset-backed property development investment opportunities to high net worth, corporate and institutional investors
A peer-to-peer business platform has been acquired by the property investment arm of Sourced Group after it gained direct authorisation from the Financial Conduct Authority (FCA).
Warrington-based Sourced Capital has snapped up Peer Funding for an undisclosed sum.
Sourced Capital provides asset-backed property development investment opportunities to high net worth, corporate and institutional investors.
Derek Pratt, commercial director at Sourced Capital, said: We have gone from proof of concept to directly authorised and approved by the FCA in a relatively short period of time.
We wanted to go down the DA route and be on that side of the process and fully regulated and offer investment opportunities to qualifying investors with that rubber stamp of the FCA having gone all over our procedures, capabilities and proven track record, which is massive for us, he said.
We’re delighted with it, it took a huge amount of work and effort to get where we are, supported by great people inside and outside of the business. We have big growth plans, he said.
With our sister company Sourced Franchise doubling its network over the past 12 months, there is unprecedented demand for our funding services. This, coupled with a strong appetite from our ever-increasing investor base, means we are well positioned for growth in 2022 and beyond, Pratt said.
Our senior team is made up of a combination of property, finance and technology experts who support Sourced Franchise developers, he said.
Pratt said: This has enabled us to build an investment model that has delivered zero losses and average returns of circa 12 percent per annum to investors to date.
He said: We want to make property investment more accessible and easier for investors, and we are doing this through Sourced Group’s unique property ecosystem which provides holistic services to property developers and challenges traditional property market approaches through expertise and innovation.
