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Patch of Land is a technology company.
Patch of Land operates an online platform facilitating real estate crowdfunding, connecting investors directly with borrowers for property projects. Its core offering provides short-term debt solutions, primarily for residential and select commercial properties. The company leverages data and analytics to streamline acquisition, management, and disposition, enhancing investment efficiency.
Founded in 2013 by Brian Fritton and Carlo Tabibi, Patch of Land emerged from the insight that traditional real estate financing lacked accessibility and efficiency. Their aim was to build an online marketplace directly linking capital with real estate opportunities, democratizing property investment through technology.
Patch of Land serves investors seeking real estate-backed returns and professionals needing flexible project financing. Its vision is to modernize real estate investment by providing a transparent, efficient marketplace. The platform empowers individuals and developers to engage in property ventures, fostering sector growth and accessibility.
Patch of Land has raised $25.2M across 2 funding rounds.
Patch of Land has raised $25.2M in total across 2 funding rounds.
Patch of Land (recently rebranded to Patch Lending) is a PropTech company providing a real estate lending platform that connects borrowers with investors for funding non-owner-occupied real estate projects overlooked by traditional banks.[1][2][6] It builds a technology-driven marketplace for private real estate debt, serving real estate investors (borrowers) seeking fast capital and accredited investors looking for diversified, high-yield opportunities backed by property collateral.[1][3][5] The platform solves inefficiencies in fragmented, opaque private lending by using proprietary tech, data analytics, and streamlined underwriting to reduce costs, speed up approvals (as fast as 5 days via pre-funding), and enable scalable funding—having originated over $1.5B in loans across 3,400+ projects.[3][6] Growth momentum includes $24.8M raised (last in a $23.6M Series A ~10 years ago), annual revenue of $16M as of 2024, and a strategic pivot to focus exclusively on real estate investor lending.[1][5][6]
Founded in October 2013 by brothers Jason and Brian Fritton, along with co-founder Carlo Tabibi (former CEO and Chairman), Patch of Land emerged as one of the earliest real estate crowdfunding platforms enabled by the JOBS Act's crowdfunding exemptions.[2][3][5] The idea stemmed from addressing slow, inefficient bank lending for real estate projects, leveraging technology for better risk assessment and transparency.[1][3] Early traction included pioneering pre-funded loans (post-due diligence commitments via internal credit lines for quick closings), funding 151 loans totaling $53M within two years of launch, and expanding to commercial real estate with 6-10% yields on 12-month terms.[3][8] A pivotal $23.6M Series A in 2015 fueled growth, leading to a 2020s rebrand to Patch Lending amid a sharpened focus on debt capital for investors revitalizing U.S. housing stock.[1][6]
Patch of Land rides the PropTech and fintech democratization wave, transforming opaque real estate debt markets by applying crowdfunding, AI-driven risk tools, and JOBS Act reforms to bypass banks amid rising demand for alternative capital in a $25T aging U.S. housing stock.[1][3][6] Timing aligns with post-2008 credit crunches and 2020s investor appetite for yield in low-rate environments, plus remote/digital lending booms accelerated by the pandemic.[6] Market forces like housing shortages, investor shift to real assets, and regulatory tailwinds for non-bank lenders favor its model, influencing the ecosystem by funding 3,400+ community-revitalizing projects and inspiring competitors like Groundfloor/Fundrise in real estate crowdfunding.[1][6]
Patch Lending is poised to scale its $1.5B loan book further through tech enhancements (e.g., patent leverage) and expanded programs amid persistent housing demand and fintech maturation.[1][6] Trends like AI underwriting, embedded finance, and institutional real estate debt will amplify growth, potentially evolving its influence toward broader PropTech partnerships or non-accredited investor access. As a post-crowdfunding pivot success, it exemplifies how targeted tech lending fuels community wealth-building in fragmented markets—primed to underwrite the next wave of U.S. real estate revival.[6]
Patch of Land has raised $25.2M in total across 2 funding rounds.
Patch of Land's investors include Neil Wolfson, American Express Ventures, Better Tomorrow Ventures, Canaan Partners, Citi Ventures, Company Capital, F-Prime Capital Partners, MassMutual Ventures, Howard Lindzon, Ron Suber.
Patch of Land has raised $25.2M across 2 funding rounds. Most recently, it raised $24.0M Series A in April 2015.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2015 | $24.0M Series A | Neil Wolfson | American Express Ventures, Better Tomorrow Ventures, Canaan Partners, Citi Ventures, Company Capital, F-Prime Capital Partners, MassMutual Ventures, Howard Lindzon, Ron Suber |
| Sep 18, 2013 | $1.2M Other Equity |