Brett Crosby, CCO of PeerStreet — Constructing a Two-Sided Market | by Anirudh Singh | Wharton FinTech | Nov, 2021

Anirudh Singh

In at present’s episode, Anirudh Singh sits down with Brett Crosby, CCO of PeerStreet.

They focus on:

Brett’s Entrepreneurial Previous:
Brett began his first enterprise shortly after graduating from USC. Whereas the enterprise didn’t achieve vital traction, it helped Brett determine some traits within the burgeoning web financial system. Profiting from these traits, Brett co-founded Urchin, an online analytics platform. In 2004, Google’s conversion monitoring group approached Brett and his cofounder, and by 2005 Urchin was offered to Google to develop into Google analytics. Brett spent his subsequent 10 years at Google earlier than ultimately being satisfied by Brew Johnson to co-found PeerStreet.

Becoming a member of PeerStreet and the Challenges with a Two-Sided Market:
Brett’s co-founder Brew noticed some challenges in the true property market throughout his work as a lawyer, pushed predominantly by irresponsible resolution making. By 2013, with new crowdfunding legal guidelines and the success of shopper credit score corporations LendingClub and Prosper, Brett and Brew determined to sort out the industrial credit score market.

Early on, the group acknowledged the necessity for know-how developments to make PeerStreet’s platform profitable. In conventional real-estate lending, greater than half of the curiosity funds made by the borrow are stripped out earlier than reaching the investor. PeerStreet supposed to vary this by digitizing their providing and fractionalizing funding alternatives. Initially, Brett underestimated how difficult constructing a two-sided market could be, particularly for a long-term, high-ticket asset class. To drive preliminary demand for the platform, the group began operation Flywheel, wherein they bought a variety of loans with only some months left on their time period, and put these on the platform to shortly entice investments. They began by including a couple of loans every week, then a couple of loans a day, and shortly momentum for PeerStreet grew to become unstoppable. Whereas the demand facet of the platform was the preliminary problem the corporate confronted, Brew has seen the group put extra of a deal with the availability facet as the corporate has reached scale.

The Way forward for PeerStreet:
Shifting ahead, Brett expects the group to proceed to digitize and automate its choices, notably for suppliers. The group additionally just lately launched PeerStreet Pocket, a brand new manner for retail buyers to earn curiosity on accessible money. In the long run, Brett hopes to make retail investing as shut to purchasing and promoting shares as potential, though he foresees some regulatory challenges in making this potential.


Brett Crosby:

> Co-founder and CCO of, an Andreessen Horowitz-backed platform for investing in actual property debt with the purpose of remodeling mortgage finance.

> Previously Director of Product Advertising and marketing at Google for Chrome, Gmail, Docs and Drive. Founder and head of strategic progress on Google Analytics. Launched and ran product advertising for Google+, Cell Advertisements, Native Advertisements and extra.

> Founder, Board member and Vice President of Urchin Software program Company, acquired by Google in 2005.

> Specialties: Enterprise technique, firm tradition, product market match, person progress, product advertising, product growth, public talking, press/media, social, cell, net analytics, browsing and mountain biking.


For extra insights from FinTech leaders, comply with:
Wharton FinTech
Twitter | Medium | LinkedIn | Fb | Instagram

Anirudh Singh
Twitter | LinkedIn


Concerning the Creator
Anirudh Singh is a second-year MBA Candidate at The Wharton Faculty, the place he’s a part of the Wharton FinTech Podcast group. He has a ardour for financial growth, enterprise capital, monetary providers, and all issues FinTech. Don’t hesitate to achieve out with questions, feedback, suggestions, and alternatives at

Leave a Reply

Your email address will not be published. Required fields are marked *