CoAssets, a Southeast Asian real estate crowdfunding platform, closed a Series A S$1m investment round.
The round, led by private investors, valued CoAssets at S$13m.
The company intends to use the funds for platform enhancements and regional expansion. It will launch in Australia in the next few months.
Launched in Singapore on July 2013 by Mr Getty Goh, Chief Executive Officer, CoAssets is a real estate group buying and crowdfunding with more than 6,000 registered users. In terms of deals, since December 2014, the total value of deals listed on CoAssets is more than S$40 million (US$32 million) and the amount funded currently stands at more than S$36 million (US$28 million).
The company had previously raised funding from Expara IDM Ventures and private investor Dr Jeffrey Chi, Managing Director of Vickers Venture Partners (VVP) and Chairman of the Singapore Venture Capital & Private Equity Association.