BigFundr hits $160 mil in loans under management, eyes $500 mil by 2026
Real estate debt investment platform BigFundr has announced in an Aug 27 announcement that the system’s total loans under management (LUM) now sets at $160 million.
BigFundr’s total LUM has nearly multiplied every six months for the past year. According to the platform, its overall LUM grew from $44.6 million since July 2023 to $77.5 million since January, just before growing to $160 million as of this month. The platform states it is on track to go across $500 million in whole LUM by 2026.
Ever since the platform’s kick off in 2021, it has actually financed over $275 million in progression fundings and asserts a 0% default price.
Released in October 2021, BigFundr is the first fintech platform certified by the Monetary Authority of Singapore (MAS) in Singapore to offer retail financiers access to property financial obligation investment prospects starting from $1,000. Instead of downright real estate procurement, BigFundr crowdsources a credit line to property developers and gains interest rate on the primary amount over a predetermined period.
Maxi-Cash Capital Management (MCCM) at the moment owns a 70% risk in BigFundr and supplies safeguards for both primary and interest in the platform’s realty financial debt investments. MCCM is a wholly owned subsidiary of financial investment holding firm Aspial Lifestyle, which is a unit of Aspial Corp.
” What began as a design to democratise property finance investment to the retail market has presently proven to become a viable and efficient investment opportunity that’s highly accessible and scalable,” says Meelan Gurung, senior supervisor of company financing and investments at Aspial Corp. “With Aspial’s strategic assistance, we expect growing BigFundr both in volume and range.”
BigFundr’s growth in entire LUM was built by its development in customers. The number of financiers on the platform surged from 1,100 since end-2022 to 5,200 as of mid-2024.
In February, MCCM increased its shareholding in BigFundr from an initial 15% to the existing 70% stake.
” Our amazing growth over the past three years is a testament to the solid collaboration between
Maxi-Cash and BigFundr. We share common values in our need to be the go-to financial investment system for retail customers,” states Quah Kay Beng, CEO of BigFundr.
