Meet Dylan Patton-Kuhl

Meet Dylan Patton-Kuhl

Groundfloor is growing! Welcome Dylan Patton-Kuhl as our new Lending Operations Manager. Dylan joins us from BitPay where she was the Director of Merchant Onboarding and Compliance. Prior to BitPay, she worked as a Financial Analyst at Parsons Brinckerhoff in Washington DC. 

Dylan received her BBA in Banking and Finance from the Terry School of Business at the University of Georgia, and recently passed her ACAMS exam to become a Certified Anti-Money Laundering Specialist. 

She adds to the Lending Operations Team where she manages relationships with Groundfloor borrowers and is implementing processes and product improvements to make lending operations more efficient. She supports investor services by coordinating communication and documentation for loan closings and project updates. 

A true believer that there is always room for growth, opportunities to improve, and problems to solve, she is excited to use her creativity to bring ideas to life that make the business the best it can be. In her own words, "Not everyone gets an opportunity to come in on the ground floor (pun completely intended) of a business like this. I'm extremely excited."

The second in our Meet the Team blog series, Dylan adds to our foodie culture. She loves pasta - especially mac and cheese. Her #basic Starbucks orders - skinny vanilla lattes and double dirty chai tea lattes with soy milk - keep her fueled throughout the day. She also loves trying new restaurants and discovering new music and new bands. She's an avid traveler and enjoys seeing new places. If she wins the lottery, she plans to head to Bora Bora, the Maldives, Singapore, Thailand, and Australia...to start. 

Our Series A Financing

Our Series A Financing

 

This week we announced the closing of our $5 million Series A financing. In the world of startups, that’s a significant milestone. One prominent commentator recently observed that 99.9% of those who attempt to achieve it fail to do so. Judged by that measure the team here at Groundfloor ought to be feeling pretty good about it. And we do.

But more than a sense of accomplishment, we feel gratitude and an eagerness to redouble our efforts. Certainly, we wouldn’t be here without the investors, advisors and early employees who’ve believed in us and invested their capital, their time and their careers to build the company. Likewise, we appreciate the borrowers and lenders who’ve seen the value of Groundfloor and ventured into the unknowns of participating in an unproven concept from an unknown company.

The real accomplishment lies not in today’s news, but on the horizon where our vision for a new age of finance is rising. We know that raising venture capital for our company is a means to an end, not an end in itself. It’s important not because we’re a startup, but because our goal is to grow past being one. Startups are now lionized into economic legend, but “startup” is just a stage--like “adolescent” (and who would want to remain that?). The word itself isn’t even a real noun, but a verb-become-noun. Startups are searching for themselves, and whether successful or not, fleeting.

Great companies, on the other hand, endure for the benefit of many. That’s what we aim to be and to do. This week, we announced a step in that direction. This capital will enable us to hire more people to grow the team and build more technology to serve more lenders and more borrowers. We’ll be able to do so more efficiently and look forward to more loans from more places, expanding to additional states, and sharing new product features like an automatic investment tool, investing with IRAs, and more.

Tell us what you’re looking forward to from GROUNDFLOOR. Leave us a comment below or reach out to me and Nick directly at founders@groundfloor.us.

Meet Andrew Mandel

Meet Andrew Mandel

GROUNDFLOOR is growing! We've just welcomed Andrew Mandel as our Investor Relations Manager. Andrew comes to us from BitPay where he served as the Enterprise Relationship Manager. Prior to BitPay, he was a Technical Business Analyst with CoStar Real Estate Manager.

Andrew received his BBA in Management Information Systems from the Terry School of Business at the University of Georgia.

He joins the marketing department where he will manage front-facing relationships with investors and borrowers. Additionally, he will support marketing initiatives and build the brand by creating educational content, inspiring the customer journey, and posting on the blog from time-to-time.

More, we introduce him as the first of our Meet the Team series of blog posts published to help you get to know our team better. Arthur and Lauren are excited to have him in the  marketing department because he's a true foodie. He enjoys self-directed eating tours of Atlanta in his free time. He also enjoys playing tennis, softball, and golf; and recently his bowling team won the league championship. A Georgia alum, you can find him in Athens on Saturdays watching the Dawgs.

If his morning espresso isn't doing the job, he leans on this quote for inspiration, "If you've got everything under control, you're not moving fast enough."

Cheers to that Andrew! We'll get you a Newscastle at the next after-work happy hour.

Thanksgiving Day Favorites

Thanksgiving Day Favorites

Thanksgiving Day is one of the most loved holidays of the year. It's an age-old tradition dating back to the Plymouth Feast in 1621, depicted above by artist Jean Leon Gerome Ferris from 1899 . It has been celebrated every year as a federal holiday since 1863 when President Abraham Lincoln proclaimed a national day of thanksgiving during the Civil War. Later in 1941, a law was enacted to fix Thanksgiving Day as the fourth Thursday in November.

Earlier this week, on the fourth Tuesday of the month, I polled my GROUNDFLOOR family to learn their favorite Thanksgiving dishes. I've compiled the answers below and included links to recipes in case you need a last minute dish to round out your meal.

It wouldn't be Thanksgiving without turkey, right? Ben, our VP of Customer Operations counts fried turkey as his favorite. There's no video evidence, but here's how to deep fry your own turkey according to turkey experts, Butterball.

So maybe not everyone eats meat. Hunter, one of our Developers stands by Tofurkey. "America's Leading Turkey Alternative since 1995" has an entire line of holiday products to make your feast meat-free.

The highlight of the holiday for Arthur, our CMO, is Pork and Chestnut Stuffing. What about the sides? We've got those covered, too. Let's start with the casseroles. For Dee Dee, our Operations Manger it's Green Bean Casserole. And Marcel, our Designer prefers Sweet Potato Casserole - the kind with the marshmallow topping. Brian, our CEO looks forward to cranberry sauce.  I can't call it Thanksgiving without Ms. Faught's Rolls. They're an old family recipe that's been passed down several generations and you'll have to get an invite to Thanksgiving if you want the recipe.

It's not a proper feast without desserts. Anthony, our Senior Developer loves Pumpkin Pie while Glenn who works with our Borrower Services Team claims Apple Pie as his favorite.

Are you wondering what to snack on while you wait for the meal start? Chris, our VP of Software has a solution for you. Try Fritos and Helluva Good French Onion dip - it's a family tradition.

Maybe you don't want to cook at all? Meet Nick, our EVP for Regulatory Affairs, at the neighborhood McDonald's for a Big Mac. He'll tell about what a great deal it is.

While we're enjoying our favorites with those near and dear, we wish the same for you. Happy Thanksgiving from our GROUNDFLOOR family to yours!

Limited Release Update - November 2015

Limited Release Update - November 2015

Two months ago, we announced GROUNFLOOR's historic qualification by the Securities & Exchange Commission. We declared that private real estate lending is going public, promising to open this lucrative private capital market for the first time. It's time to report back on what's happened since.

First, our initial batch of loans offered on September 6th didn't last very long. Daily investment volume tripled as we invited new investors to join our original base in Georgia. The six loans sold out within weeks, including 7415 Raton Street, our first loan outside of Georgia.

Last week on stage at Money 20/20, the financial technology industry's largest conference, we announced some new, exciting developments to build on the early momentum:

  • A new, larger batch of loans in six states -- representing three times the volume previously available
  • Expansion of our limited release -- extending invitations to participate for all who had signed up in September and October
  • A sneak peek at new features, such as our redesigned project pageloan comparison tool, and our forthcoming automatic investment tool

In the week since, average daily investment volume has tripled -- again. We fully funded eight more loans, seeing as much investment in one week as in all of September. Five more loans, the largest we've ever offered, are well on their way to funding as well. In short, growth is strong.

We're not slowing down. In the coming weeks, we anticipate introducing the next batch of loans now working its way through regulatory review. Many of you have offered feedback about the product features, loans, and support you want to see from GROUNDFLOOR. We appreciate all of it as we continue to grow and improve the tools we build for you. Please keep it coming.

Things are going very well in the earliest stages of our expansion - thanks in large part to the continuing support of the borrowers and investors who we're honored to count as our customers. There is much to be proud of for everyone who is a part of GROUNDFLOOR, and also much to do to make good on the promise of what we're creating together.

Have ideas, opportunities, or critiques to share? Nick and I are always pleased to hear from you directly at founders@groundfloor.us, or in the comments below.