With strategic support from Aspial Corporation Limited, the fintech platform is consolidating its leadership in the real estate debt investment sector thanks to its rapid expansion and strong financial performance.
and Meelan Gurung, Senior Director, Corporate Finance & Investments, Aspial Corporation Ltd
SINGAPORE, August 2024 – BigFundr, an innovative fintech platform that offers retail investors access to real estate debt investments, is pleased to announce several significant milestones since its launch in October 2021. Established in Singapore and operating under the regulation of the Monetary Authority of Singapore (MAS), BigFundr has witnessed remarkable growth over the past three years. The platform has quickly become a trusted option for both retail and accredited investors, enhancing its market presence and substantially increasing its customer base.
Over the last two years, BigFundr has experienced nearly fivefold growth, with its customer base expanding from just over 1,100 at the end of 2022 to an impressive 5,200 by mid-2024. This rapid growth is reflected in the platform’s financial metrics as well. The Total Loans Under Management (LUM), a critical measure of BigFundr’s scalability, has consistently doubled every six months, reaching S$160 million to date.
Looking forward, BigFundr is on track to exceed S$500 million in Total LUM by 2026. These achievements underscore the platform’s strong market appeal and its potential for continued expansion in the competitive retail investment sector.
A Promising Future for Retail Investors
BigFundr is strategically positioned to leverage opportunities in Australia’s flourishing real estate market, focusing on both commercial and residential real estate debt investments. Since its inception, the platform has successfully funded projects totalling over S$275 million, all while maintaining a flawless zero percent default rate, further enhancing its reputation as a reliable investment option.
BigFundr is committed to making real estate-backed investments both safer and more accessible, allowing retail investors to start with as little as S$1,000. This inclusive approach has opened up investment opportunities that were previously reserved for those with significant capital, offering returns on par with larger-scale investments.
Quah Kay Beng, CEO & Founder of BigFundr, remarked, “Our extraordinary growth over the past three years reflects the strong synergy between Maxi-Cash and BigFundr. We share a common vision to be the premier investment platform for retail customers. This shared commitment has been crucial to our success, and we are proud to have delivered lasting value.”
Strong Corporate Support
Aspial Lifestyle Limited, incorporated in 2008, is an investment holding company with a focus on consumer lifestyle brands, including Maxi-Cash, Lee Hwa Jewellery, and Goldheart. Its parent company, Aspial Corporation Limited, is the first publicly-listed jewellery retailer on the Singapore Exchange (SGX) and manages a diverse portfolio of businesses, including jewellery retail, property development, financial services, and hospitality.
In February 2024, Maxi-Cash Capital Management, a wholly owned subsidiary of Aspial Lifestyle Limited, increased its stake in BigFundr from 15% to 70%. This investment not only reinforces confidence in BigFundr’s scalable business model and its mission to democratise real estate debt investments for retail investors but also strengthens its position within the fintech industry. The substantial backing from the Aspial Group of companies provides a secure and reliable platform for investors, ensuring robust protection for both principal and interest in real estate debt investments.
Koh Wee Seng, CEO of Aspial Corporation Limited, added, “This development is a significant milestone for BigFundr, set to greatly accelerate its growth and broaden the opportunities available to investors. Our strategic partnership with BigFundr has exceeded our initial growth expectations. With our loyal investor base and new investors on board, we are confident that we will continue to surpass our growth targets.”
Meelan Gurung, Senior Director of Corporate Finance & Investments at Aspial Corporation Limited, echoed this sentiment, saying, “What began as a model to democratise real estate debt investment for the retail market has proven to be a viable and scalable investment opportunity. With Aspial’s strategic backing, we look forward to further expanding BigFundr’s reach and impact.”
