Driven by rapid user growth and strong financial performance, the fintech platform is cementing its position in the real estate debt investment sector with strategic backing from Aspial Corporation Limited
SINGAPORE, Aug. 28, 2024 /PRNewswire/ -- BigFundr, an innovative and leading fintech platform offering retail investors access to real estate debt investments, is proud to announce significant milestones since its launch in October 2021. Founded in Singapore and licensed and regulated by the Monetary Authority of Singapore (MAS), BigFundr has demonstrated impressive growth over the last three years, becoming a trusted name among both retail and accredited investors while solidifying its presence in the market and significantly expanding its customer base.
The past two years have seen BigFundr experience a near five-fold growth, as the platform's number of total customers skyrocketed from over 1,100 in end-2022 to an impressive 5,200 by mid-2024. BigFundr's financial metrics also reflect its robust growth trajectory. The platform's Total Loans Under Management (LUM), a key indicator of its scalability, has consistently doubled every six months, with current LUM at S$160 million.
Looking ahead, the platform is projected to surpass S$500 million in Total LUM by 2026. These turning points highlight BigFundr's strong market appeal and its capacity to grow in today's competitive retail investment landscape.
A Bright Future for Retail Investors
BigFundr is strategically positioned to capitalise on the growth opportunities in Australia's thriving real estate sector through targeted investments in both commercial and residential real estate debt markets. Since its inception, BigFundr has successfully funded developments exceeding S$275 million, all while maintaining a zero percent default rate, reinforcing its reputation as a reliable investment platform.
Committed to making real estate-backed investments safer and more accessible, BigFundr empowers retail investors to start with as little as S$1,000. This approach has democratised investment opportunities that were once exclusive to those with substantial capital, offering returns comparable to larger-scale investments.
Reflecting on the company's progress, Quah Kay Beng, CEO & Founder of BigFundr, noted, "Our remarkable growth over the past three years is a testament to the strong partnership between Maxi-Cash and BigFundr. We share common values in our desire to be the go-to investment platform for retail customers. The belief in our shared vision has been instrumental in our success, and we're proud to have delivered on our promise to create lasting value together."
Robust Corporate Backing
Incorporated in 2008, Aspial Lifestyle Limited is an investment holding company specialising in consumer lifestyle, housing brands such as 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) which manages a wide spectrum of businesses. Its purview includes jewellery retail, property development, financial services, and hospitality and resort management.
In February 2024, Maxi-Cash Capital Management (a wholly owned subsidiary of Aspial Lifestyle Limited) increased its shareholding in BigFundr from 15% to 70%. This investment not only reinforces confidence in BigFundr's highly scalable business and its mission to make the real estate debt investment sector more accessible to retail investors, but also cements BigFundr's position within the fintech industry. The substantial backing from the Aspial Group of companies ensures a secure and reliable platform for investors, offering robust safeguarding for both principal and interest in real estate debt investments.
"This development marks a significant turning point for BigFundr, poised to greatly enhance its growth trajectory and expand the opportunities available to its investors," commented Koh Wee Seng, CEO of Aspial Corporation Limited. He also remarked that, "Our strategic partnership with BigFundr has seen the business exceeding our initial growth expectations. We are confident that with the current base of loyal investors, as well as new investors, we are set to further surpass our growth trajectory."
"What started as a model to democratise real estate debt investment to the retail market has now proven to be a viable and practical investment opportunity that's highly accessible and scalable," said Meelan Gurung, Senior Director, Corporate Finance & Investments, Aspial Corporation Limited. "With Aspial's strategic support, we look forward to growing BigFundr both in size and scope," he added.
About BigFundr
BigFundr is the first and only MAS-licensed fintech platform that grants retail investors access to real estate-backed investments from as little as $1,000. In February 2024, BigFundr became a subsidiary of Maxi-Cash Capital Management (MCCM) following SGX-listed Aspial Lifestyle Limited's increase in shareholding to 70% from 15%. Bigfundr's mission is to democratise investments, making better returns safer and more accessible to everyone.
For more information, please visit www.bigfundr.com.
About Aspial Lifestyle Limited
Incorporated in 2008, Aspial Lifestyle Limited (formerly known as Maxi-Cash Financial Services Ltd. which also holds Maxi-Cash Capital Management as a subsidiary) is Singapore's first public-listed pawnbroker on the Singapore Exchange (SGX), offering a wide range of services including pawnbroking, retailing of new jewellery, and pre-loved jewellery and branded merchandise. Within the pawnbroking industry, Aspial Lifestyle leads the industry by pioneering digital innovations such as online payment services, e-wallet solutions and the Maxi-Cash E-Shop through the Maxi-Cash App. Committed to reliability, quality, and transparency, Aspial Lifestyle has been recognised as one of Singapore's Best Employers by The Straits Times in 2022 and 2023.
For more information, visit www.aspiallifestyle.com & www.maxi-cash.com
About Aspial
Aspial Corporation Limited, the first publicly listed jewellery retailer on the Singapore Exchange has grown from a traditional jeweller into a leading Asian conglomerate. Aspial owns prominent jewellery retail brands such as Lee Hwa and Goldheart. Beyond jewellery retail, Aspial's diversified portfolio includes real estate, hospitality, financial services, and precious metal trading, reflecting its commitment to building long-term value and strong customer relationships across the region.
For more information, please visit www.aspial.com.
APPENDIX
Koh Wee Seng, CEO of Aspial Corporation Limited
Koh Wee Seng is the CEO of SGX Mainboard-listed Aspial Corporation Limited (ACL), overseeing diverse businesses including jewellery retail, financial services, property development, and hospitality. ACL's real estate arm, World Class Global, is an innovative developer with a presence in Australia and Malaysia, having completed over 39 projects across these regions and Singapore, with a gross realisation value exceeding $4.8 billion. Iconic developments include the $1 billion Australia 108 and the $800 million Citygate project, both recipients of the CTBUH Award of Excellence in 2022 and 2023. An alumnus from the National University of Singapore's Business School, Koh drove Lee Hwa to become the first jeweller to be publicly listed on SGX in 1999 and later led Maxi-Cash Financial Services Limited to become the first publicly listed pawnbroker in 2012.
Meelan Gurung, Senior Director, Corporate Finance & Investments, Aspial Corporation Limited
Meelan is Senior Director of Corporate Finance & Investments at Aspial Corporation Limited, specialising in infrastructure assets, investment management, and private equity. He leads the Private Credit and Real Estate Debt division, managing strategy, portfolios, and compliance. Meelan also drives business turnarounds and digital transformations, with experience in emerging markets and multinational firms. Additionally, he oversees BigFundr, Aspial's major subsidiary, providing strategic leadership and investor engagement.
Quah Kay Beng, CEO & Founder of BigFundr
Kay Beng is the CEO and Founder of BigFundr, a fintech platform established in 2021 that connects retail investors with real estate debt opportunities. Leveraging over 25 years in real estate investment management and a career that includes roles at DTZ, Halverton Fund Management, JPMorgan, and Hongkong Land, he has since overseen assets exceeding US$1 billion globally. Under his leadership, BigFundr has facilitated over S$275 million in loans across 164 Development Notes. The platform, which operates with a Capital Markets Services licence from the Monetary Authority of Singapore, allows investments from $1,000 with tenures of six to 18 months, secured by Maxi-Cash's 70% ownership stake.
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BigFundr Eyes S$500 Million in Total Loans Under Management (LUM) by 2026
