General World News

Crowdfunding platform Peer Street files for bankruptcy

California-based real estate investing platform Peer Street, Inc. and 14 affiliated debtors filed for protection under Chapter 11 of the U.S. Bankruptcy Code in a court in Delaware on Monday, citing a challenging mortgage market and struggles to raise capital with venture capital funds.    

“Through its bankruptcy filing, PeerStreet will seek to sell substantially all of its assets, including, but not limited to, its mortgage loan assets and technology platform, in a series of transactions intended to maximize value for all of PeerStreet’s stakeholders,” the firm said in a statement. 

Founded in 2013 by Brew Johnson, Brett Crosby and details ⇒

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