The bridging lender hopes the fund, which allows investors to lend to borrowers across England and Wales, will increase to up to £15m over the next six months and £65m in the next three years.
Mayfair director Yasin Patel said: “What we are doing is taking borrowers and investors and we are matching the two together while getting rid of the red tape you get with traditional lending.
Peer-to-peer lending was more flexible, he added, as investors could specify what they were interested in and quickly put up the cash: “Other lenders have a fixed criteria of what they can and cannot lend. Because we have a variety of investors we can pretty much do any bridging loan.”
So far, most lending has gone to residential properties, with brokers involved in roughly 95% of cases. Mayfair has promised investors returns of up to 10%.
Peer-to-peer lenders of unsecured loans such as Zopa have made the headlines in recent years for their high returns and flexibility.
Last year, online marketing specialist Julian Wells suggested homebuyers could soon be taking out mortgages from peer-to-peer lending platforms.
