Australian listed crowdfunding platform CoAssets, born in Singapore, will commence crowdfunding from June in addition to real estate crowdfunding.
The company has recently become a corporate authorised representative of Melbourne Securities Corporation, allowing CoAssets via its wholly owned Australian subsidiary, to target the burgeoning Australian business and real estate crowdfunding market.
While the company has already been able to assist with financing needs of Australian real estate projects through the Singapore platform and from Singaporean investors, as well as projects in Thailand and Vietnam, the Australian platform will allow Australian businesses to turn to Australian investors for their funding needs. Australian retail and sophisticated investors will be able to access debt-based investment opportunities through the platform.
The company’s unique Lead Generation platform model allows registered users the ability to view, research, and ultimately invest, in real estate or Small and Medium Enterprise (SME) debt instruments. The company is currently looking at its first business crowdfunding project in Australia.
As the Company will commence operations in Australia, non-executive director Dan Smith will move to an executive role. As part of its expansion plans, Smith has been tasked with establishing the Australian operations team, and working alongside Singapore-based management, in leveraging the vast user network, to replicate the company’s success in Australia.
The start of Australian operations will provide CoAssets with exposure to five key markets: Singapore, China, Indonesia, Australia and Malaysia.
Co-founder Getty Goh, commenting on the Australian operations said: “As flagged back in November 2015, CoAssets sees its Australian operations as a key driver of future growth.
“The company will now be operating its leading crowdfunding platform in five countries, targeting a combined population of more than 1.5 billion, and an addressable market estimated to be US$ 100 billion annually.
“The Australian Government has set a big focus on innovation with crowdfunding and P2P lending being a part of this, and following our record of accomplishment in different countries, now is the right time to expand our offering in Australia.
Goh added that Dan has been involved with the Company for 18 months, and he has played a key role in focusing the company’s efforts in Australia.
“His knowledge of the business, experience, and his enthusiasm to get more involved with day-to-day operations is crucial to our Australian success.”
Executive Director of CoAssets, Dan Smith, added: “We are really excited about growing our business in Australia. We have a proven model, track record, and see significant potential in applying that same business model here in Australia. Australian investors are financially well educated, with an acute understanding of risk versus return; we feel that there will be strong interest for the type of opportunities found on our platform.
“We are an alternative source of capital for Australian property developers and SMEs, and look forward to facilitating them with competitively priced capital in a timely fashion.”
The timing of the Australian platform launch coincides with another key milestone, as the registered user base recently passed 44,000. The company continues to see strong organic growth in its user base, while also experiencing improved conversion rates thanks to big data analytics. Successful marketing activities, coupled with the Company’s EPIC events and Crowdfunders magazine has ensured that the demand for capital via CoAssets matches the demand for yield from investors.
