AssetAvenue Gets $3M In Seed Funding

Los Angeles-based peer-to-peer commercial real estate investment site AssetAvenue said Friday that it has raised $3M in a seed funding round. According to the company, the funding was led by Matrix Partners and NetEase, with other investors, including Vectr Ventures, Russ Meyer (Grandpoint Capital); Bam Ventures; and LaunchpadLA. The startup offers up an online, peer-to-peer lending platform which lets users invest and borrow money to invest in commercial real estate deals. The startup is led by David Manshoory. The company said the funding will go towards accelerating strategic partnerships with lenders, and to grow its base of investors, in addition to its platform. More information »