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Singapore-based CoAssets expands into Australia; broadens P2P lending for businesses

Zafirah Salim | July 8, 2015
The crowdfunding startup is now listed on the NSX, and it believes that this listing will help support CoAsset’s expansion efforts as well as increase its investment potential.

Singapore-based crowdfunding platform CoAssets recently announced that it has been listed on the National Stock Exchange of Australia (NSX). The NSX is a secondary board in Australia and the second largest listing market in the country, according to the company.

Launched in July 2013, CoAssets crowdfunds for residential and commercial properties in Asia, Australia, the UK and the US. The platform provides developers, agents and home or land owners with an alternative source of funding for their properties, linking them to investors who are keen to co-develop projects and co-purchase units.

Getty Goh, co-founder and CEO of CoAssets, said that the NSX listing will help support the company's expansion efforts and increase its investment potential.

"Being globally recognised, the NSX listing boosts our plans for internationalising CoAssets. Listing on the Australian board also further supports our outreach to crowdfunders by providing us with more exposure to the market, seeing that crowdfunding for real estate is still new in Australia," he said.

Dr Seh Huan Kiat, Co-Founder and Chief Technical Officer of CoAssets, added that the listing will also help to support expansion plans into other countries within the region. He expressed his interest in looking to grow the company's presence in Malaysia, adding that CoAssets also have several partnership deals with companies in China and Indonesia.

Following this listing announcement, CoAssets will also broaden its offerings to include peer-to-peer (P2P) lending for businesses outside of the real estate industry. Businesses looking for short-term trade financing of more than S$100,000 can now look to CoAssets' online platform for crowdfunding within a maximum period of one year.

 

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