Local Australian investors will be able to access debt-based investment opportunities through the listed crowdfunding platform CoAssets Limited using a newly launched Australian subsidiary in the June quarter.
The company says having recently become a Corporate Authorised Representative of Melbourne Securities
Corporation Ltd it will be ready to target the burgeoning Australian business and real estate crowdfunding market.
While the CoAssets has already been able to assist with financing needs of Australian real estate projects
through its Singapore platform, the Australian platform will allow resident 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 adds its lead generation platform model will allow registered users the ability to view, research,
and ultimately invest, in real estate or small and medium enterprise (SME) debt instruments.
CoAssets 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
As part of its expansion plans, Smith has been tasked with establishing the Australian operations team and working alongside Singapore-based management to leveraging the vast user network and 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.
CoAssets CEO and Founder Getty Goh says CoAssets sees its Australian operations as a key driver of future growth.
"As flagged back in November 2015, the Company will now be operating its leading crowdfunding platform in five countries, targeting a combined population of over 1.5 billion and an addressable market estimated to be US$100 billion annually," Goh says.
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
Goh says the Executive Director operating in Australia Daniel Smith has been involved with the company for 18 months and has played a key role in focusing the CoAssets' efforts in Australia.
"Daniel's knowledge of the business, experience, and his enthusiasm to get more involved with day-to-day operations is crucial to our Australian success,” Goh says.
Dan Smith adds he is really excited about growing the CoAssets business in Australia.
"We have a proven model, track record and see significant potential in applying that same business model here in Australia," Smith says.
"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.”
Smith says the timing of the Australian platform launch coincides with another key milestone, as the registered user base recently exceeded 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," Smith says.