BigFundr hits $160 mil in loans under management, eyes $500 mil by 2026
Real estate unpaid debt investment platform BigFundr has recently announced in an Aug 27 statement that the system’s overall lendings under management (LUM) now mounts at $160 million.
Maxi-Cash Capital Management (MCCM) currently possesses a 70% risk in BigFundr and provides safeguards for both primary and interest in the system’s real estate debt ventures. MCCM is an entirely possessed subsidiary of financial investment holding firm Aspial Lifestyle, which is a unit of Aspial Corp.
In February, MCCM increased its shareholding in BigFundr coming from an initial 15% to the existing 70% stake.
” Our exceptional expansion over the past 3 years is a testimony to the solid collaboration in between
Maxi-Cash and BigFundr. We share standard values in our need to be the go-to financial investment platform for retail consumers,” says Quah Kay Beng, Chief Executive Officer of BigFundr.
BigFundr’s total LUM has nearly replicated every six months for the past year. According to the platform, its entire LUM increased from $44.6 million as of July 2023 to $77.5 million since January, before expanding to $160 million as of this month. The platform states it gets on path to cross $500 million in whole LUM by 2026.
Launched in October 2021, BigFundr is the initial fintech platform certified by the Monetary Authority of Singapore (MAS) in Singapore to provide retail capitalists access to realty debt financial investment opportunities starting from $1,000. In contrast to downright real estate acquisition, BigFundr crowdsources a credit line to property makers and gains interest rate on the primary sum over a predetermined period.
Since the platform’s kick off in 2021, it has budgeted over $275 million in development loans and claims a 0% default rate.
” What launched as a version to democratise real estate debt investment to the retail market has now shown to become a viable and efficient financial investment prospect that’s extremely obtainable and scalable,” says Meelan Gurung, top director of company finance and financial investments at Aspial Corp. “With Aspial’s calculated assistance, we anticipate growing BigFundr both in size and scope.”
BigFundr’s growth in total LUM was built by its development in clients. The quantity of investors on the platform surged from 1,100 since end-2022 to 5,200 as of mid-2024.
