BigFundr hits $160 mil in loans under management, eyes $500 mil by 2026
Launched in October 2021, BigFundr is the very first fintech program certified by the Monetary Authority of Singapore (MAS) in Singapore to provide retail investors accessibility to property debt financial investment options starting from $1,000. Rather than straight-out property purchase, BigFundr crowdsources a credit line to realty developers and makes interest on the principal sum over a set duration.
In February, MCCM raised its shareholding in BigFundr from a first 15% to the current 70% risk.
Maxi-Cash Capital Management (MCCM) at the moment has a 70% stake in BigFundr and provides safeguards for both major and interest in the system’s property debt assets. MCCM is an entirely owned subsidiary of investment holding company Aspial Lifestyle, that is a unit of Aspial Corp.
BigFundr’s development in total LUM was underpinned by its development in customers. The number of investors on the platform rose from 1,100 since end-2022 to 5,200 as of mid-2024.
Real estate debt investment network BigFundr has already announced in an Aug 27 announcement that the system’s total lendings under managing (LUM) currently stands at $160 million.
” What started off as a design to democratise real estate debt financial investment to the retail market has presently verified to become a viable and practical financial investment prospect that’s highly available and scalable,” claims Meelan Gurung, senior director of business money and financial investments at Aspial Corp. “With Aspial’s calculated support, we anticipate growing BigFundr both in size and range.”
BigFundr’s overall LUM has actually around replicated every six months for the past year. According to the network, its total LUM grew from $44.6 million since July 2023 to $77.5 million as of January, before growing to $160 million as of this month. The platform states it is on track to go across $500 million in overall LUM by 2026.
” Our amazing expansion over the past three years is a testimony to the solid partnership between
Maxi-Cash and BigFundr. We share standard values in our desire to be the go-to investment system for retail customers,” states Quah Kay Beng, CEO of BigFundr.
Since the platform’s launch in 2021, it has funded over $275 million in advancement loans and asserts a 0% default rate.
