seen from Germany
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CoAssets has received the CMS licence, which implies that the platform can host crowdfunding projects in Singapore. Singapore-based CoAssets has received the Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS).
Dr Jeffrey Chi, Chairman of Singapore Venture Capital Association, speaks about #SME capitalising opportunities in current market as well as how #FinTech is going to change the current banking industry. #coassets #SVCA (at Singapore Marriott Tang Plaza Hotel)
Singapore’s Crowdfunding Scene Leaps Forward with Three-Party Alliance
CoAssets, FundedByMe, and New Union come together to form an international platform to up the crowdfunding game in Southeast Asia
Singapore, 26 May 2015—Crowdfunding platforms CoAssets, FundedByMe, and New Union bring their specializations together in an official alliance to grow the crowdfunding industry in Southeast Asia. Altogether, the alliance has recorded over S$200 million dollars raised through international campaigns to date, and have exciting plans to accelerate this growth in the coming months.
With the crowdfunding industry in Southeast Asia still relatively young, the alliance sees huge potential in developing the region, beginning with market education, and later moving towards building the industry as a credible, trustworthy environment to grow. Crowdfunding’s exponential growth in Asia shows that there is indeed a great opportunity to initiate advancements in this space.
“We hope to shed positive light on the crowdfunding industry and attract stakeholders to help us further grow the crowdfunding scene in Southeast Asia,” says Getty Goh, founder and CEO of CoAssets.
By forming an alliance from three different crowdfunding backgrounds, the members aim to provide both an alternative financing scheme for SMEs and entrepreneurs, while simultaneously providing another platform of investment to interested parties.
“Through this alliance, we are able to pool together our networks, bringing together the biggest and most influential players in each industry, with both international reach, and local expertise. It is truly exciting to begin working with such capable and likeminded partners in the industry,” says Daniel Daboczy, Founder and CEO of FundedByMe.
With strong goals to ramp up the crowdfunding scene in Southeast Asia and to firmly establish crowdfunding as the next big thing in finance, the alliance has lined up a combined project for Q3, and is also looking towards joint conferences in the next few months.
“This alliance represents the emerging wave of financial services that will meet crucial business needs. We are extremely excited to bring a new avenue to connect drivers of business, and allow them access to funds that weren’t previously available to them,” says Eddie Lee, Managing Director of New Union Singapore.
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About CoAssets:
CoAssets Platform is Southeast Asia’s leading real estate crowdfunding platform. Since its launch in July 2013, it has more than 9,000 registered investors and has more than US$30 million closed deals to date. Find out more at www.coassets.com.
About FundedByMe:
FundedByMe is one of the fastest-growing investment platforms in the world, and is now expanding across Asia. They are a trusted, one-stop crowd investment partner with deep connections within the funding ecosystem. Find out more at www.fundedbyme.com.
About New Union:
New Union is one of the largest platforms in the debt-based crowdfunding sectors in the APAC region. The site has over 50,000 registered members across Singapore, China, and a large growing user base in Taiwan. New Union has funded SG$160 million to over 500 SMEs, generating more than SG$5 million of investment returns to their funding members. Find out more at www.newunion.sg.
Media Contacts:
PRecious Communications for FundedByMe
Serene Chow [email protected] +65-3151 4760
Soraya Rosadha [email protected] +65-3151 4760
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CoAssets.com is South East Asia’s first real estate crowdfunding site. It also operates CrowdFunders.Asia, Asia’s leading portal on crowdfunding, property, start-up and business related news. To contact the editor to contribute your story, please email [email protected].
“Crowdfunding: Without the crowd, there’s no funds.”
When we mention the word – Crowdfunding, first thing that comes to people’s mind is about social movement whereby people are gathered to raise funds for a particular purpose. Indeed, in fact, Crowdfunding covers a wide segment from product, donation, equity to peer-to-peer lending, and of course, real estate. This brought us to CoAssets, South East Asia’s first Real Estate Crowdfunding platform whereby they connect opportunity providers such as property developers, agents, and owners with investors for real estate opportunities.
When asked about the source of idea that starts CoAssets, Getty Goh, Chief Executive Officer and founder of CoAssets shared:
“When seeking for funding, if you are a big guy that is looking for hundreds of million. It is not a problem, there are many established institutions prepared to give you that loan. If you are a small guy looking for less than a million, there are banks. But there is a twilight zone between 1-5 million. It is too big for the small guys and too small for the big guys. Hence, there are many deals that don’t happen at 1-5 million range.”
With that in mind, CoAssets, being the man in the center between the opportunity providers and investors, aims to leverage technology in hope to help the system or the market to be more transparent and give people the resources that they need to make their decision.
When questioned about how CoAssets make money, Dr Seh Huan Kiat, Chief Technical Officer and Founder of CoAssets shared that CoAssets charge a service fee on developer’s side. Apart from that, they have many other channels, one of which is the magazine that has recently established (See the press release: http://www.crowdfundinsider.com/2014/12/60347-se-asia-real-estate-platform-coassets-will-launch-crowdfunders-magazine/). They have received many questions regarding about why would an online company came out with the magazine. “People don’t want to go online and invest. They want to see the physical products so we have magazine and we organise events to cater to their needs”, said Dr Seh.
Getty Goh shared that they are fortunate to be in the space whereby they have many partners that they work with, hence, it is not that difficult for them to get attention for their own deals and deals that come on their site. A case in point, one of the first Singapore’s crowdfunded martial arts action comedy movie, came to CoAssets and use one of our channels to get the words out on the street (See their 1-min trailer: http://magazine.coassets.com/2015/02/09/impossible-1-minute-trailer/).
“It is not about real estate, it is about making dreams come true.”
Want to know more about where are their chief developments and what should the investors need to know before they come on board, you can click the above video for the full interview on 93.8FM Breakfast Club.
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This article is written by the Crowdfunders Editorial Team. Crowdfunders.Asia is Asia’s leading portal on crowdfunding, property, start-up and business related news operate CoAssets.com. CoAssets.com is South East Asia’s first real estate crowdfunding site. If you wish to contribute your story, you may write to [email protected].
