Assetz Capital, a British peer-to-peer lending platform exceeded its fundraising target of £2 million by raising funds from 731 investors through specialty crowdfunding platform Seedrs.
The firm, which specialises in providing loans to SMEs and property developers in the UK, raised a total of £3,179,750 through Seedrs, which now boasts more than £4.5 million raised for various crowdfunding and peer-to-peer platforms.
According to a blog post by the firm, the money will be used to double staff numbers, focus on retail marketing and establish international joint ventures.
The fundraising round represents the second largest campaign hosted on the platform, the largest being wine and beer producer Chapel Down Group's £3.9 million fundraising campaign in September 2014.
Assetz Capital, who are not part of the Peer to Peer Finance Association, most recently secured upto £150 million for loan origination from Victory Park Capital in January this year.
Earlier this year, RBS named Assetz Capital, along with Funding Circle, as beneficiaries of a pilot scheme to refer small business customers turned down for loans by the bank to the peer-to-peer lender.