117 projects later, we are very pleased to announce that we have surpassed the €200 million mark in funding on Urbanitae. The closing of the Allonbay Aura project yesterday, with a ticket of €3.5 million, brings our total funding amount to over €203 million.
If last year we surpassed the €100 million funded mark before the end of December, in 2023 we have done it earlier: November hasn’t ended yet, and we have already exceeded €200 million in funded projects. Additionally, we are very close to achieving another milestone: surpassing €100 million in funding in a single year.
Investors, key to success
Our success is thanks to you, the investors, who trust our approach to real estate crowdfunding project by project. Since June 2019, when we started operating, we have managed nearly 74,000 investments on the platform. Your support has been growing: the first project to surpass 1,000 investors was in March 2022 (Deltas Madrid project). Today, there are 19 projects that have gathered more than a thousand investors each.
This trust is also demonstrated by the speed with which you fund projects. So far in 2023, projects usually close in an average of 0.8 days. Last year, the average was slightly more than double (1.97 days), and in 2021 it was seven times higher (5.6 days). Today, it sometimes seems incredible to fund high tickets in a matter of minutes. When we started in 2020, our average time was over a month.
Surge in debt projects
2023 has also been special for us because of the types of projects we are funding. We remain the only real estate crowdfunding platform in Spain specialized in equity financing. Capital gain projects represent more than 60% of our funded volume.
However, in 2023 we have clearly committed to real estate crowdlending, to the point of becoming leaders in the sector. So far this year, we have funded 20 capital gain projects and 18 debt projects, each amounting to around €45 million. Specifically, year-to-date, capital gain projects account for 49.1% of the total funded, while loan projects account for 44.6%.
And the other 6.3%? You guessed it: rental projects. At the beginning of the year, we announced the much-anticipated launch of our rental asset line. Since then, we have already funded five rental projects, four of them with our partner Rubica Real Estate. A total of over €6 million, funded through more than 2,800 investments.
However, there are no surprises in terms of the segment. The vast majority of our projects are still residential, with new construction housing taking the lead. To date, we have funded 96 residential developments, which involve the development of more than 2,200 new homes. In the commercial sector, we have funded a total of 18 projects, half of which focus on storage units in partnership with Grupanxon.
And we still have time this year to improve these numbers. To those who have accompanied us these past months, once again, thank you! If you don’t know us yet, take a look at the Urbanitae website and check out our results. We look forward to seeing you!
