Bigfundr Hits 160 Mil Loans Under Management Eyes 500 Mil 2026
BigFundr, a real estate debt investment platform, has announced in a press release on Aug 27 that its total loans under management (LUM) have reached $160 million.
The platform’s LUM has seen a steady increase in the past year, doubling roughly every six months. In July 2023, the LUM was $44.6 million, which grew to $77.5 million in January and now stands at $160 million as of this month. The platform is aiming to hit $500 million in total LUM by 2026.
The growth of BigFundr’s LUM can be attributed to an increase in its customer base. From 1,100 investors at the end of 2022, the platform now boasts of 5,200 investors as of mid-2024.
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Launched in October 2021, BigFundr is the first fintech platform in Singapore licensed by the Monetary Authority of Singapore (MAS) to provide retail investors with access to real estate debt opportunities starting at just $1,000. Instead of purchasing properties outright, BigFundr utilizes a crowdfunding model to provide loans to real estate developers and earns interest on the principal amount over a fixed period.
Since its inception, BigFundr has funded over $275 million in development loans and boasts of a 0% default rate. “Our impressive growth over the past three years is a testament to the strong partnership between Maxi-Cash and BigFundr. We both share a common goal of being the leading investment platform for retail customers,” says Quah Kay Beng, CEO of BigFundr.
Maxi-Cash Capital Management (MCCM) currently holds a 70% stake in BigFundr and provides protection for both principal and interest in the platform’s real estate debt investments. MCCM is a subsidiary of Aspial Lifestyle, which is a unit of Aspial Corp, an investment holding company.
In February, MCCM increased its shareholding in BigFundr from 15% to 70%. “Our initial aim was to democratize real estate debt investment for the retail market, and it has proven to be a successful and accessible opportunity,” says Meelan Gurung, senior director of corporate finance and investments at Aspial Corp. “With Aspial’s support, we are confident in the growth and expansion of BigFundr.”