OakNorth Bank has recently provided a financial boost to EquityMultiple, the New York-based real estate investment firm and lender. The digitally-focused bank for entrepreneurs came up with a note-on-note facility to the investment firm, amounting to $21 million.
Founded in 2015 by Charles Clinton and Marious Sjulsen, EquityMultiple has been disrupting the real estate sector by providing unprecedented access to diverse real estate investments. The firm’s unique business model and innovative approach have made it one of the most respected names in the FinTech industry.
The recent funding from OakNorth Bank will be used to provide acquisition financing for a new site. As per reports, EquityMultiple managed to secure this significant funding due to its consistent performance and evident growth potential in the FinTech realm.
According to an executive at OakNorth Bank, the commercial bank is excited about the association with EquityMultiple. They believe that their support will further bolster EquityMultiple’s growth trajectory, helping it solidify its position in the commercial real estate market of the United States.
This financing, while significant, is not the first major milestone for EquityMultiple. The company has been achieving consistent growth in its sector, and with the recent support from leading investor OakNorth Bank, it is all set to reach new heights. EquityMultiple, as a real estate lender, offers a range of services to its clients, including financing for property types like industrial, office, retail, multifamily, and self-storage.
In conclusion, the financial support from OakNorth Bank to the real estate lending platform, EquityMultiple is a noteworthy example of how FinTech collaborations can stimulate innovation and growth within the industry. With the fresh infusion of funds, EquityMultiple is poised to further advance its mission of providing diversified real estate investment opportunities.
