What is CoAssets Platform?
CoAssets (ASX:CA8) aims to be one of the top crowdfunding platforms in the world by connecting business opportunities with investors across different countries through our unique lead generation platform. We serve SMEs and Property Developers that require funds of around $100,000 to $5million, a gap in the funding market that is not well served by the banks and private funds.
What is crowdfunding?
Crowdfunding is defined as "the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet". CoAssets’s model of crowdfunding involves creating an interactive platform for the purpose of bringing together investors to network with borrowers to co-invest in projects.
Is CoAssets truly a regional platform?
We have listed projects from the following countries: 1. Malaysia; 2. Philippines; 3. Thailand; 4. Australia; 5. China; 6. Japan; 7. United Kingdom; and 8. United States. We currently have users from Australia, Singapore, Malaysia and China.
Is crowdfunding regulated by the Monetary Authority of Singapore (MAS)?
Crowdfunding may be regulated by MAS depending on the form or method of fundraising. If an offer of securities is involved, the requirements in the Securities and Futures Act (Cap. 289) will apply. Please refer to the MoneySENSE website more information.
Parties should seek professional advice if in doubt to ensure compliance with all applicable laws and regulations, which could vary depending on the specific features of the crowdfunding activities undertaken. Crowdfunding platform operators and/or any party who wishes to raise funds via crowdfunding activities should take note that the legal and regulatory obligations referred to in the MoneySENSE website are not intended to be exhaustive and do not constitute advice from CoAssets.
Apart from seeing the current real estate projects, what else can CoAssets do for me?
CoAssets aims to empower the consumers. Hence, apart from viewing available projects, users can be updated on the latest regional real estate and crowdfunding news. There are also interactive tools available on the site to help users better understand the regional real estate markets.
At present, there are tools available for Singapore and Malaysia. More will be rolled out in the coming months.
Is CoAssets truly a regional platform?
We have listed projects from the following countries:
7. United Kingdom; and
8. United States.
We currently have users from Singapore and Malaysia.
How much real estate projects have been listed on the site?
Since our launch in 2013 to Apr 2014, more than S$20 million worth of real estate projects have been listed by CoAssets.
I see that there are bulk purchase projects on your site, are they brokered by CoAssets?
No. CoAssets is not a registered property agency and we do not broker projects. These bulk purchase opportunities are usually listed by property agents or developers. Any dealing is directly between the users being the property investors and the OPs.
Does the site offer securities?
No. The site does not constitute an offer of, or an invitation, to subscribe for or to purchase any securities in any jurisdiction. Information contained in the website is for information only and no part of the website shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto.
Do you develop and put your own opportunities up on CoAssets?
No. CoAssets is not a property development company. We do not solicit any funds for our own projects. To maintain neutrality, CoAssets does not invest in any of the listed property projects as well.
I noticed that you put a lot of focus on backers for the listed projects. Can I then check who are the backers of the CoAssets platform?
CoAssets is incubated by Expara Pte Ltd, a venture fund established in Singapore since 2003 and focuses on the Interactive and Digital Media space.
Dr Jeffrey Chi, the Chairman of the Singapore Venture Capitalist and Private Equity Association and the Vice Chairman of Vickers Venture Partners is one of our investors.
How do you charge for your services?
We provide the following services:
1. Premium Advertising on CoAssets;
2. Micro-site for Customer Relationship Management (CRM);
3. Event organising services;
4. Event sponsorship (at major events like EPIC);
5. Booth spaces at our events;
6. Media coverage and write-up;
7. Electronic direct mailer blast;
8. Interactive tools; and
9. Membership fees.
When OPs are keen to engage our services, we will provide an estimated fee package. This quote is derived from our projection of the scope of work required based on the OPs’ targeted project value. It is not pegged to the actual project value after it is successfully concluded. We do not charge commission fees.
Do you provide advice on the projects listed on CoAssets? If not, who can we turn to for advice?
We do NOT provide any advice on the viability or the commercial merits of any projects. Interested users should seek their own professional advice.
Are all CoAssets investments the same?
No, each project listed on CoAssets is unique.
What should I do if I suspect a fraud/scam?
While CoAssets is a web-based targeted leads generation site, we want to ensure that the projects are credible. Hence, if you suspect one of the listings could be a fraud/scam, please send your feedback to "[email protected]" and we will look into your allegation.
Can CoAssets refund the money if the property projects do not materialise?
No. As the collaboration in relation to projects are directly between the OPs and investors, any such discussion should take place between the OPs and the investors.
In relation to P2P Lending Projects, CoAssets has the authority to act on behalf of the investors to remedy any payment defaults, hire third party professional debt collectors to claim unpaid amounts and commence legal proceedings.
How do you track completed projects?
We do not track the outcome of projects listed on CoAssets. We provide an interactive platform for users to indicate their interests in projects as a performance matrix for OPs to assess the effectiveness of their marketing campaigns. Any collaboration in relation to projects is directly between the OPs and investors.
Will CoAssets manage my money?
No. CoAssets does not collect any funds or deposits. Any collaboration in relation to projects are directly between the OPs and investors. We do not act as agent for either the OPs or the investors.
In relation to P2P lending projects, CoAssets handles P2P lending sums as an intermediary. Any investment in P2P lending projects is solely the decision of the investors. We accept and release P2P lending sums only upon written instructions from users.
How do I check if an overseas developer is credible?
MAS maintains an investor alert list, based on information received, on unregulated persons who have been mistaken as being licensed or authorised by MAS. You can click here for more information. Interested users should also seek their own professional advice.
You can also refer to the following articles for more information:
1. Beware of overseas property scams - Yahoo News
2. How to spot overseas property scams
Is there any recourse if the property projects go bad?
The recourse will depend on the collaboration or agreement that is entered into between the OP and the investor. Interested investors should seek their own professional advice before making any such decisions.
Are my monies guaranteed or protected?
No. In Singapore, only deposits placed with banks or finance companies are protected by the Deposit Insurance Scheme. As the OPs are not banks or finance companies, any monies placed with the OPs are not guaranteed or protected.
How can I crowdfund a project on CoAssets?
You can click on the "I'm interested" button in the project listing and provide the amount that you would like to invest in. Once you verified your email address, an e-contract will be generated and send to your email account. Review the contract and e-sign, then follow the steps accordingly to transfer funds with indication of your name and project ID. Once our Accounts has confirmed that the funds is in, we will issue you a receipt within 2 working days.
What are the modes of payment?
We accept FAST (Fast and Secure Transfer) transfer, online banking transfer, ATM transfer, Cashier's Order, Cash or Cheque. For FAST & online banking method, kindly indicate in the remarks column:
(eg. Joanna Chia 123). For Cheque, Cashier's Order and Cash, please pass it to our office or get in touch with us at 65327008 or [email protected] If you have any questions, please feel free to get in touch with our staff at 65327008 during office hours from 9.30am to 6pm, Mondays to Fridays, excluding public holidays.
How will I get my money back?
You will get an alert from us when your payout is approaching. We will issue you the payouts by cheque, either by self-collection in the office or we can mail it out to your residence.