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BigFundr hits $160 mil in loans under management, eyes $500 mil by 2026

By Nicholas Lam

/ EdgeProp Singapore |

August 28, 2024 11:42 AM SGT

From left, Quah Kay Beng, CEO of BigFundr, Koh Wee Seng, CEO of Aspial Corporation and Meelan Gurung, senior director of corporate finance & investments at Aspial Corporation (Credit: BigFundr)

Real estate debt investment platform BigFundr has announced in an Aug 27 press release that the platform’s total loans under management (LUM) now stands at $160 million.

BigFundr’s total LUM has roughly doubled every six months for the past year. According to the platform, its total LUM grew from $44.6 million as of July 2023 to $77.5 million as of January, before growing to $160 million as of this month. The platform says it is on track to cross $500 million in total LUM by 2026.

BigFundr’s growth in total LUM was underpinned by its growth in customers. The number of investors on the platform surged from 1,100 as of end-2022 to 5,200 as of mid-2024.

Launched in October 2021, BigFundr is the first fintech platform licensed by the Monetary Authority of Singapore (MAS) in Singapore to provide retail investors access to real estate debt investment opportunities starting from $1,000. As opposed to outright property acquisition, BigFundr crowdsources a line of credit to real estate developers and earns interest on the principal amount over a fixed period.

Since the platform’s launch in 2021, it has funded over $275 million in development loans and claims a 0% default rate.

“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,” says Quah Kay Beng, CEO of BigFundr.

Maxi-Cash Capital Management (MCCM) currently owns a 70% stake in BigFundr and offers safeguards for both principal and interest in the platform’s real estate debt investments. MCCM is a wholly owned subsidiary of investment holding company Aspial Lifestyle, which is a unit of Aspial Corp.

In February, MCCM upped its shareholding in BigFundr from an initial 15% to the current 70% stake.

“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,” says Meelan Gurung, senior director of corporate finance and investments at Aspial Corp. “With Aspial's strategic support, we look forward to growing BigFundr both in size and scope.”

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