[2][3] Groundfloor was founded in Raleigh, North Carolina, in February 2013 by Brian Dally (who launched Republic Wireless) and Nick Bhargava (contributor to the JOBS Act).

[5] After raising $1 million in seed funding, Groundfloor moved its headquarters to Atlanta because of the Invest Georgia Exemption (IGE)[6] which allows state residents to invest in crowdfunded projects regardless of their investor accreditation status.

[1][9] The company subsequently opened investing in California, Illinois, Maryland, Massachusetts, Texas, Virginia, Washington, Georgia and the District of Columbia in the fall of 2015.

[11] By December, the company had funded 54 loans and sold more than $3 million in Limited Recourse Obligation securities.

Loan terms generally range from six to 12 months and financing can be in a senior or junior position.