Realty Access is proud to announce their involvement in the official arrival in Singapore of the most successful crowd funding platform in the world, Prodigy Network.
At the end of April, Bloomberg interviewed the CEO of Prodigy Network, Rodrigo Nino. The same New York city investment company was featured in the Today and the Straits Times on the 29 th of January and reported a successful $173 USD million fund raised in the US and a 5 billion Yuan China fund raised in just three days. In the live interview Mr. Nino revealed that the top corporate industries only survived the Global Financial Crisis because they collectively invested their capital in the top commercial sites globally, however the public were not given access to the same asset security due to a contradiction in the law that the general public could not have access to due to open solicitation of private offerings. This securities law blockade on the small investor was lifted in 2013 and by 2014 Wikipedia reported that the small investor public funds in crowd funding was worth $ 5.1 billion USD in the first year, and an average of 446 campaigns an hour started globally in 2015. The public have flocked to property crowd funding for exactly the reason stated by Mr. Nino in his Bloomberg interview, “There hasn’t been a single case of fraud in the crowdfunding industry because its heavily regulated by the government to ensure safe operations between the companies, the public and the developers”. His sentiments were echoed by Karim Lakhani from the Harvard Business school stating, “In developed countries, crowdfunding provided access to commercial real estate assets that were privy to large investors before. Crowdfunding will disrupt the status quo of traditional equity investment in real estate.”
Welcome to the future: Bloomberg closed by stating that the new Financial Technology Industry termed Fintech is focused on providing financial services through technology. We have seen the success of this with household names like PayPal and Uber. Now property crowdfunding too is heading the same way. Collectively changing the traditional methods of financial profits made by consumers.
Back to Realty Access:
Official Asian main dealer Icon Solutons Pte. Ltd. was invited to participate in the launch, Mr. Marc Revan Icon Solution sales director attended as a guest in person. What were his thoughts after personally communicating with Marc the head of Prodigy Network? “It’s fantastic to see our company’s business model endorsed by the mainstream big boys joining as new entrants to the industry some five years behind us. Our clients have already seen cash dividend payouts and equity increases by the time they open their doors. But great to have them here, Our industry is now above reproach and beyond question of any reasonable high end investor”.