Blog‎ > ‎

CoAssets Real Estate Crowdfunding Platform Updates on Investor Payouts, Expects Amount to Climb to Over S $700,000

posted Nov 25, 2014, 1:46 AM by J Shaw   [ updated Nov 25, 2014, 1:47 AM ]
CoAssets, a Singapore based real estate investment crowdfunding platform, has released that total payout on the Asian platform is now over S $120,000 to date with the expectation for that amount to surpass S $ 700,000 over the next 12 months.  Projects listed on CoAssets currently include property bulk purchases, property presales and crowdfunding deals. In total, more than S$32million worth of deals have been done. Specific to the crowdfunding portion, the amount is more than S$4.5million.

Co-founder Getty Goh commented on the announcement;

“Quite often, crowdfunding platforms highlight their ability to raise funds for their projects. However, our focus is on our users’ experience and on whether the companies listed on our site are able to deliver on their promise. Up to this point, we are pleased to note that businesses listed with us have already given payout/redemption of more than S$120,000. In the next 12 months, users can expect payout from the deals to be more than S$700,000,” said Mr Goh.

“The funding arrangements are between the Singapore corporations and the individual users. As part of the conditions, the amount that businesses receive has to be more than S$100,000 and the duration can be no longer than one-year. This really hits the sweet spot for companies that are looking for short term working capital and users who want to make some returns,” added Goh.

http://www.crowdfundmadeeasy.com

“The crowdfunding space in the region is currently seeing a lot of exciting developments. For example, the Malaysian government is due to pass some equity crowdfunding regulations in the coming months. We also understand that the Monetary Authority of Singapore is closely looking at the development of the crowdfunding space. There were also recent announcements from the Singapore Stock Exchange (SGX) that it was exploring the possibility of setting up a crowdfunding platform for start-ups. All these will ultimately add to the credibility and vibrancy of the crowdfunding movement, and pull this ‘online innovation’ from being a niche service to something that can benefit the masses,” he continued.

CoAssets quoted one platform user on their specific experience using the young platform.

“To date, I have supported two companies with funds amounting to more than S$5,000. So far, it has been a pleasant experience. I like the fact that I am helping Singapore companies and making some money while I am at it. I am also empowered to decide how much support I want to give and the short-term commitment of 1 year is definitely something attractive,” said Miss Rachael Lim, a 25 year-old CoAssets user.

Dr Seh Huan Kiat, Co-founder of CoAssets, addressed the risk associated with investing on the platform.

“We have been fortunate that there has been no unpleasant experiences so far. All the companies have been timely in their payment and they provide constant updates to our users. However, we are aware that there will inevitably be some deals that might go awry and we have put in place a myriad of consumer protection measures. In the event that something does go wrong, we will assist our users to seek the relevant legal and financial resolutions.” said Dr Seh Huan Kiat.

Posted from : http://www.crowdfundinsider.com/2014/11/56923-coassets-real-estate-crowdfunding-platform-updates-investor-payouts-expects-amount-climb-s-700000/