Bigfundr Hits 160 Mil Loans Under Management Eyes 500 Mil 2026
BigFundr, a platform specializing in real estate debt investments, has recently announced that their total loans under management (LUM) have reached an impressive $160 million, according to their Aug 27 press release.
This marks a significant growth for BigFundr, as their total LUM has doubled every six months for the past year. In July 2023, their total LUM was at $44.6 million, before increasing to $77.5 million in January and finally reaching $160 million in August of this year. The platform is on track to achieve a total LUM of $500 million by 2026.
BigFundr attributes its substantial growth to its increasing number of customers. From 1,100 investors in the end of 2022, their customer base has grown to 5,200 by mid-2024.
BigFundr has differentiated themselves in the market by offering real estate-backed investment opportunities with a guaranteed return of 6%, backed by Maxi-Cash. This has made them the first fintech platform in Singapore to be licensed by the Monetary Authority of Singapore (MAS) to provide retail investors with access to such investment opportunities, starting from as low as $1,000. Rather than directly acquiring properties, BigFundr opts to crowdsource a line of credit to real estate developers, earning interest on the principal amount over a fixed period.
Since its launch in October 2021, BigFundr has successfully funded over $275 million in development loans and boasts a 0% default rate. This is a testament to the platform’s strong partnership with Maxi-Cash and their shared goal of becoming the go-to investment platform for retail customers.
Quah Kay Beng, CEO of BigFundr, attributes their remarkable growth to the partnership with Maxi-Cash, stating, “We share common values in our desire to be the go-to investment platform for retail customers.”
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Maxi-Cash Capital Management (MCCM), a subsidiary of Aspial Lifestyle which is owned by Aspial Corp, currently holds a 70% stake in BigFundr. This provides added security for investors as MCCM offers safeguards for both principal and interest in the platform’s real estate debt investments. In February, MCCM increased their shareholding in BigFundr from 15% to 70%.
Meelan Gurung, senior director of corporate finance and investments at Aspial Corp, highlights the success of BigFundr’s mission to make real estate debt investment accessible and scalable to the retail market. With the strategic support of Aspial, BigFundr looks forward to further growing their platform in terms of size and scope.