Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Real estate crowdfunding in Canada: portal insights for 2017/18
IT Business | Bret Conkin | June 12, 2018
Real estate and fintech have been integrating in exciting new ways in recent years.
Real estate online investment or crowdfunding has been a sector that has attracted significant interest in the U.S. over the last several years, with more than 100 portals launched to serve rapidly growing developer and investor interest. In fact, industry research hub crowdsourcing.org estimates that the industry will be worth more than $300 billion USD by 2025.
Why would developers consider an online and alternative financing route? A big reason, beyond the capital, is the significant marketing benefits that campaigns can generate, including community building.
Check out: GAME-CHANGERS: Crowdfunding real estate projects in the GTA
To investigate where the Canadian market for real estate crowdfunding is going in the next 12 months, we interviewed the two leading portals in Canada, online investment platform NexusCrowd and private equity firm R2 (though R2 notes that they position themselves as an online marketplace or fintech in commercial real estate, not as “crowdfunders”).
Learn more below.
Bret Conkin: How many projects and capital were raised via your portal in 2017? To date in 2018?
Amar Nijar, CEO of R2 Capital & Investments: Since our launch two years ago, R2 has funded 12 projects with $25 million of equity and more than $200 million of debt.
Hitesh Rathod, CEO of NexusCrowd Inc.: In 2017 – three deals worth $2 million. For 2018 to date – one deal worth $1 million, but we’re expecting at least two more deals near term for $3 million in additional capital raised. Keep in mind that we are very selective about the deals we put on the platform and that all deals have been fully subscribed. Of note, two deals closed within four weeks and two deals closed within 2 weeks.
ITB: What are your overall metrics now since the launch of your portal?
R2: We have 2,500-plus investors on our platform, with thousands more on our emails, newsletters, and social media platforms.
NexusCrowd: Eight deals completed, with more than $5 million raised, and more than $240 million in project value.
ITB: What (ballpark) portion of the capital stack has the “online marketplace” contributed to your recent projects?
R2: 75 per cent of the equity we funded has come via online as lead generation or execution.
NexusCrowd: We’ve contributed anywhere between 15 and 100 per cent of the total capital raise (debt or equity) for specific projects. As a percentage of total capital stack (debt and equity required for a project), between five and 20 per cent.
ITB: What was your biggest online raise to date for a project?
R2: Close to $5 million on our $90 million mixed-use project across from Bayview village Mall, located on Sheppard Avenue between Bayview Avenue and Leslie Street in Toronto’s high-end housing area.
See: Blockchain in Real Estate: You Can Now Buy Fraction of House
NexusCrowd: Two projects each raised $1 million. Deal 1 – Debt financing for a town home development in Markham, Ontario. Deal 2 – Preferred equity financing for the development of 10 luxury homes in Richmond Hill, Ontario.
ITB: Has the market for alternative finance unfolded at the pace you expected? Faster? Slower? Why?
R2: Very slow, due to the regulatory burdens of compliance. Currently Canada is not the right country for such innovation, despite the talk by politicians, as it’s not meeting the policy objectives in reality.
NexusCrowd: Slower than expected. It’s a combination of a couple of factors in my opinion – 1) Canadians are generally risk-averse and slower adopters of new products, and 2) Individuals aren’t aware of these alternative methods of investing.
ITB: What do you foresee for real estate “online marketplaces” in Canada over the next 12 months?
R2: Everybody is trying to carve his or her niche. Many think that having an online ID and password-based website with a docusign feature is an “online marketplace.” However, the players who truly engage the digital footprint with their good underlying investments, along with blockchain and security tokens, will be the clear winners over the next four years. Our current model is to provide a balanced risk-return portfolio via our online portal so investors have a dashboard to track their investments in real time. We are aiming to be the first ones in Canada to incorporate blockchain and security tokens into our platform by end of this year.
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ESG | Nov 28, 2023 The Monetary Authority of Singapore (MAS) has recently launched 'Project Greenprint' (Gprnt), an innovative digital platform to streamline the collection and access of Environmental, Social, and Governance (ESG) data View release This initiative, part of Project Greenprint, aims to simplify sustainability reporting and decision-making processes for both large corporations and small and medium enterprises (SMEs). Gprnt integrates four key utilities: a disclosure portal, a data registry, a solutions marketplace, and data orchestration capabilities, offering a comprehensive solution for ESG data management. See: ‘Lazy’ ESG Fund Managers Are Caught Swimming Naked as SVB Exposes Scheduled for a progressive rollout starting from Q1 2024, Gprnt promises to automate ESG reporting, providing timely insights and enhanced data access for the ESG community. Gprnt enables businesses to automatically convert economic data into sustainability-related information. This includes integrations with various digital systems like utilities, payroll solutions, and AIoT sensors. The platform will collect data through APIs and compute ESG-related outputs. It will also use AI tools for data extraction from documents and a GPT4-powered chatbot for crafting sustainability disclosures. Gprnt's data registry and marketplace functions, launching next year, will facilitate access to aggregated data and connect solution providers with investors ...
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Funding | Nov 27, 2023 Victoria-based Payments fintech, Peloton Technologies, successfully closes a $2 million late seed funding round to simplify payment processes for Small and Medium-Sized Enterprises (SMEs) in Canada. Highlights The $2 million investment round, led by a group of undisclosed investors with expertise in payments, banking, and risk management, reflects strong confidence in Peloton's business model and growth potential. Peloton's platform is distinguished by its ability to integrate multiple payment methods across various financial institutions, offering a comprehensive and unified payments platform that is scalable and adaptable, growing alongside businesses. ISOs (Independent Sales Organizations): They provide a customizable and white-labeled solution for ISOs, ensuring a unified approach to payment processing. Merchants: The platform offers all the necessary tools for merchants to support their business growth. CEO/CFO Solution: This solution is tailored to maximize the benefits of corporate rewards cards for high-level executives. See: CB Insights Global Fintech Q3 2023 & Canada Spotlight The Pacific Economic Development Agency of Canada declared a substantial investment in July 2023. This initiative, part of the Business Scale-Up and Productivity Program, led to Peloton Technologies receiving a notable $1.5 million funding, marking it as the highest-funded FinTech by PacifiCan. Building on this ...
Crowdfunding | Nov 24, 2023 The Kickstarter campaign for the Cascade Pro | Trackable Performance Wallets by MANI WONDERS is an exciting development in the world of personal accessories. This product is designed to offer both style and functionality, making it an ideal choice for those who appreciate efficiency and security in their everyday carry items. Here's a brief overview of the Cascade Pro wallet: RFID Secure Wallet: The Cascade Pro wallet comes with RFID blocking technology, ensuring your cards are protected from unauthorized scanning and fraud. Quick-Access Card Ejection: This feature allows for easy access to your cards, making transactions faster and more convenient. Hideaway Money Clip: The wallet includes a hideaway money clip for those who prefer to carry cash, providing a secure and discreet way to hold bills. Detachable Cover: For days when you need to carry more, the wallet comes with a detachable cover, offering flexibility and additional space. Loss Prevention Tracker: One of the standout features of the Cascade Pro is its trackable technology, which helps in preventing loss or theft of the wallet. The campaign is based in Toronto, Canada, and has set a funding goal of CA$ 20,000. It operates on an "all ...
Regulation | Nov 24, 2023 UK's Approach to CBDCs and Privacy On November 7, 2023, a question raised in the UK Parliament by Mr. David Davis, a Conservative MP, brought to light the critical issue of privacy in the context of a UK CBDC. The response from Andrew Griffith, also a Conservative MP, emphasized the UK Government's commitment to ensuring rigorous standards of privacy and data protection in the design of a digital pound. Notably, the government assures that neither it nor the Bank of England would have access to personal data or insights into consumer spending habits. A recent development in the UK Parliament highlights the growing concern and attention towards the privacy implications of these digital currencies. As Canada's fintech community closely monitors global trends, the discussion around the UK's potential digital pound offers valuable insights. Implications for Fintechs and Canada For fintech companies and stakeholders in Canada, the UK's stance on privacy in the realm of digital currencies is both a benchmark and a learning opportunity. It highlights the importance of balancing innovation with consumer rights, particularly in a domain as sensitive as financial transactions. The UK's consultative approach, involving feedback from February to June 2023, also ...
Payments Regulation | Nov 24, 2023 The final regulations for the Retail Payment Activities Act (RPAA) have been published in the Canada Gazette, Part II. These regulations help clarify the details of the legislation and outline the intentions of the law. Payment service providers (PSPs) will be required to register with the Bank of Canada starting on November 1, 2024. The Bank’s related supervisory requirements will follow in September 2025. More information is now available. More resources: Canada’s New Retail Payment Regulations: Registration and Compliance Summary: This article explores Canada's Retail Payment Activities Framework, impacting PSPs in 2024. It discusses compliance, exemptions, and its effect on the fintech sector. Published: Nov 16, 2023 Read more Preparing for Retail Payment Act Changes Summary: Discusses the final regulations under the Retail Payment Activities Act in Canada, expected to be published in the Canada Gazette II, and the significant changes and preparations in retail payments supervision. Read more Regulatory Consultation (Feedback by March 28, 2023): Retail Payment Activities Act (RPAA) Summary: Covers the Department of Finance Canada’s proposed regulations on the RPAA, published for public comment, and the importance of the public comment period. Read more McCarthy Tetrault: Fintech Regulatory Developments: 2021 Year ...
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org
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