New Silver is a technology-enabled, non-bank lender focused on providing short-term mortgages collateralized by residential real estate with a focus on “fix & flip” single-family investment properties in the United States. New Silver is the first “real world asset”, meaning non-crypto native, to have been voted in by MakerDAO, a leading DeFi protocol focusing on bringing global financial activity onto the blockchain. To date, New Silver has originated more than $130 million of loans with more than $50 million of loans securitized on the blockchain, creating the largest known DeFi pool of securitized real world assets.
We are seeking to raise $5 million from the TrueFi community through an 18-month term facility with a 15% yield target. This capital will be used to help finance new loan originations and additional leverage. With additional capital, New Silver’s direct lending model can efficiently scale into the $50+ billion per year direct lending market opportunity.
New Silver built an innovative, data-driven technology platform to efficiently originate and underwrite loans. Our proprietary technology helps to reduce origination-related costs by over 60% while improving the user experience, allowing New Silver to deliver a superior service at a lower price point. Borrowers can apply online and receive conditional approval and a preliminary term sheet in less than five minutes.
Kirill Bensonoff - Co-founder and CEO. Kirill is a technologist and a serial entrepreneur, having built and sold successful companies in the enterprise IT space prior to New Silver. Kirill is responsible for overseeing the business direction and technology development.
Alex Shvayetsky (@alex) - Co-founder and Chief Risk Officer. Alex’s career spans over 25 years in commercial real estate management and operations. Alex is responsible for overseeing risk and lending practices.
Alexey Shevchenko - CTO. Alexey holds a Masters Degree in Computer Science and has been building software for over a decade. Alexey oversees the company’s software engineering efforts.
Landon Mizuguchi - CFO. Landon advises New Silver with respect to strategic planning and analysis and related matters. Landon’s career has encompassed experience with firms such as PayPal (Strategic Finance), Goldman Sachs (Investment Banking) & EY (Transaction Advisory).
James Keegan - Loan Advisory Team Lead. James is an experienced banker, having previously been a commercial lender at DR Bank and at People’s United Bank. James oversees the loan advisory team.
John Coury (@john_newsilver) - Head of Capital Markets. John has a wealth of experience in real estate capital markets, having spent his career in private equity houses such as Axiom Capital and Camlea Realty. John is responsible for overseeing the company capital markets and fundraising.
New Silver works with real estate investors who want to buy, renovate and resell or buy, renovate and hold a property for profit. New Silver operates in 41 states in the US, and is licensed in the state of California as a CFL Lender. New Silver offers a number of products and services, with the below 2 loan products being the primary business activity for which funds raised in this offering will be used:
Fix & Flip (FF) - for borrowers who want to purchase, renovate and resell the property
Ground Up (GU) - for experienced borrowers who will perform heavy rehab on the subject property
Over the last two years, we have originated more than $130 million of loans with ~$50 million securitized on the blockchain. Our annual investor returns have historically averaged between 15-20%.