The rapidly-growing proptech firm PeerStreet is partnering with a software heavyweight to build a faster, more transparent marketplace for private lenders and accredited investors.
Based in Manhattan Beach, California, PeerStreet will integrate Liquid Logics’ software to accelerate loan origination, thereby creating more opportunities for lenders to sell their loans to a diverse pool of investors, said PeerStreet CEO Brew Johnson.
“By creating this seamless integration, the loan submission process is easier,” Johnson said. “That stands to benefit our entire marketplace: more loans from our lender network means more opportunities for PeerStreet investors to better diversify their investment portfolios. That demand for diversification then increases the overall demand for investments in loans, which further fuels lenders who in turn work with more high-quality borrowers. It is a virtuous cycle that benefits all participants.”
Thanks to the partnership, approved lenders can now submit loan information and documents directly to PeerStreet for evaluation and potential sale. The enhanced platform will streamline the loan submission process, reduce the risk of human error and enable lenders to focus on making more loans, the company said.
Liquid Logics CEO Sam Kaddah said he’s thrilled at the opportunity to integrate with PeerStreet.
“We’re very excited about this partnership, as it solidifies next-generation technologies in the FinTech space by merging loan origination directly into PeerStreet’s investor marketplace,” said Sam Kaddah, founder and CEO of Liquid Logics. “With this partnership, Liquid Logics helps lenders achieve faster and more efficient lending cycles by connecting them to additional sources of capital from PeerStreet — allowing them to do more business and to do it better.”
In 2018, PeerStreet surpassed $1 billion in investments. The banner year pushes PeerStreet past $1.7 billion total in real estate lending since its launch in 2013.
PeerStreet is among many growing proptech firms in the United State. Proptech — or property technology — refers to a group of tech-oriented businesses that are developing innovations for various aspects of the real estate industry. While a broad field, proptech can include products or services for homebuyers and sellers, smart-home devices, office administration, building management, marketing, construction, and even city-planning.