According to a statement given by CoAssets, a crowdfunding company hailing from Southeast Asia, has seen their listed projects give over S$120,000 in total payouts during the past 16 months. CoAssets is a start-up firm that is funded by a scheme called i.JAM Reload, which is managed by the MDA (Media Development Authority), and has been nurtured by Expara IDM Ventures.
Kingsford Waterbay Payouts
The Co-founder of CoAssets, Getty Goh has stated that crowdfunding platforms, more often than not, shine a light on their ability to raise the funds needed for their projects in Kingsford Waterbay Serangoon. But with CoAssets the focus has been on their users’ experience, as well as on whether or not the companies that they list on their site have the capacity to deliver on their promises.
Mr. Goh further added that, up until now, they are pleased to note that those businesses that are listed with them have already been able to give a redemption/payout of over S$120,000. Users can also expect payouts from these deals to be over S$700,000 over the next twelve months.
Waterbay Projects Upper Serangoon
The projects for Kingsford Waterbay that are listed with CoAssets are comprised of bulk purchase properties, crowdfunding deals and property presales. There are over S$32 million worth of deals that have been done in total. Where the crowdfunding sector is concerned, the figure was cover S$4.5 million.
Goh adds that the funding arrangements for Kingsford Waterbay take place between individual users and Singapore corporations. One of the conditions is that the amount received by business must be over S$100,000 and the duration must not be longer than a year. This is what makes it so attractive for companies that are seeking users looking to make some returns and short term working capital.
Rachel Lim, a 25 year old CoAssets user, has shared that to date, she has given support to 2 companies with funds for Kingsford Waterbay Serangoon that are S$5,000 in total. She adds that it has been a pleasant experience for her so far, and she is pleased with the fact that she is helping Singapore based companies, as well as making a bit of money in the process. She feels it empowers her to decide just how much support she wishes to give and also finds the short term, 1 year commitment very attractive.
CoAssets says that so far they have been fortunate in that there haven’t been any unpleasant experiences. All of the companies who have participated have made their payments in a timely manner and they also give their users constant updates. They are aware that, inevitably, some deals may not go to plan. For this, they have put a number of consumer protection measures in place.
Singapore Upper Serangoon Condo
Co-Founder Dr. She Huan Kiat has shared that, in the event of something not going to plan for Kingsford Waterbay, CoAssets can assist their users in seeking relevant financial and legal resolutions.
Goh added that there are a lot of exciting developments being seen in the crowdfunding area for this region currently. One example is the Malaysian government soon passing equity crowdfunding regulations in the months ahead.
They are also aware that Singapore’s Monetary Authority is closely watching how the crowdfunding space develops. The Singapore Stock Exchange recently announced that it would be exploring the possibility of creating a crowdfunding platform for start-ups. Goh feels that all of this will eventually add to the vibrancy and credibility of the crowdfunding movement. It will take this online innovation from being a niche service to a service that can benefit the masses.