Real Estate and P2P Lending Platform, CoAssets, Goes Public in Australia
- The crowdfunding sector gained its latest public company as CoAssets became listed on the National Stock Exchange of Australia this week.
The Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term sector gained its latest public company as CoAssets became listed on the National Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term of Australia (NSX) this week. Based in Singapore, CoAsstes operates a crowdfunding platform for real estate deals in Southeast Asia and Australia.
Going public at AUD 0.10 a share, CoAssets will be using the new funding from the IPO to expand into other marketplace sectors. According to the firm, the expansion plans will focus on P2P lending. The firm first entered P2P lending in June when SGD 200,000 in short-term loans was raised by Social Media Enterprise using the CoAssets platform.
For the overall marketplace lending and crowdfunding industry, following IPOs by Lending Club and OnDeck Capital at the end of 2014, the IPO market has been quiet despite rising valuations of venture backed deals. As such, the CoAssets IPO could be considered a proxy to discovering investor interest in smaller public deals.
In regards to CoAssets, beyond raising capital, another benefit of going public is greater brand recognition of being a listed firm. In regards to this, CoAssets' CEO Getty Goh remarked, “Being globally recognized, the NSX listing boosts our plans for internationalizing CoAssets.”
Goh added that despite being a Singapore-based company, they chose the list in Australia to gain more exposure in the market. He also explained, “While Singapore has a good start-up ecosystem, more support is needed for certain growth stage companies. With the limited market size here, not many venture capital (VC) funds are in the one to two million dollar funding space, in comparison, the Australian stock market and investors are more receptive of technology businesses.”
The Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term sector gained its latest public company as CoAssets became listed on the National Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term of Australia (NSX) this week. Based in Singapore, CoAsstes operates a crowdfunding platform for real estate deals in Southeast Asia and Australia.
Going public at AUD 0.10 a share, CoAssets will be using the new funding from the IPO to expand into other marketplace sectors. According to the firm, the expansion plans will focus on P2P lending. The firm first entered P2P lending in June when SGD 200,000 in short-term loans was raised by Social Media Enterprise using the CoAssets platform.
For the overall marketplace lending and crowdfunding industry, following IPOs by Lending Club and OnDeck Capital at the end of 2014, the IPO market has been quiet despite rising valuations of venture backed deals. As such, the CoAssets IPO could be considered a proxy to discovering investor interest in smaller public deals.
In regards to CoAssets, beyond raising capital, another benefit of going public is greater brand recognition of being a listed firm. In regards to this, CoAssets' CEO Getty Goh remarked, “Being globally recognized, the NSX listing boosts our plans for internationalizing CoAssets.”
Goh added that despite being a Singapore-based company, they chose the list in Australia to gain more exposure in the market. He also explained, “While Singapore has a good start-up ecosystem, more support is needed for certain growth stage companies. With the limited market size here, not many venture capital (VC) funds are in the one to two million dollar funding space, in comparison, the Australian stock market and investors are more receptive of technology businesses.”