“We wish Paul all the best and offer him our sincerest gratitude for his many contributions to the success of the company. He will be missed and continues to be a close friend of the company” stated Fritton.  “While Paul has been instrumental in our recent growth, we are confident that the management team together with the board of directors, will continue scaling the company and successfully advance our growth and funding initiatives.”

Since its founding in 2013, Patch of Land has steadily grown its presence as a leading online real estate lending platform. Over the past year, Patch of Land has dramatically improved its market position. Among the recent accomplishments, the company has successfully recruited a strong and experienced management team, expanded the company’s $30 million debt facility, more than doubled loan volume over the past 12 months, and has introduced AutoInvest, a new technology tailored to crowdfund investors as well as a new bridge lending program for single-family rental properties.

About Patch of Land

Since issuing its first real estate loan in October 2013, Patch of Land has been recognized in the financial technology space as a leader in online real estate lending. The company employs proprietary technology to efficiently fill a void in the real estate finance industry by providing borrowers reliable access to capital for residential and commercial real estate projects. The platform also establishes a marketplace through which qualified individual and institutional investors can participate in private real estate projects with low minimum investments, predictable returns and first-lien secured loans.

For inquiries, contact:
Robert Greenberg
rgreenberg@patchofland.com
(888) 959-1465 ext. 316