- CoAssets partners with the Linca Group and the Government of Fuzhou to organise the first EPIC international expo in China
- EPIC China is part of the EPIC series developed by CoAssets to promote crowdfunding and generate investment opportunities on the platform
- More than S$4 million in deals already secured for the inaugural EPIC China
- CoAssets China’s early traction of more than 2,500 registered lenders and successful funding of RMB2.1million (circa A$400,000) will be further strengthened via EPIC China
Crowdfunding platform, specialised in real estate and small to medium-sized enterprises, CoAssets Limited (“CoAssets” or the “Company”) (ASX: CA8), is pleased to announce the Company will be hosting its inaugural Expo in Property, Investing and Crowdfunding (“EPIC”) China on 12-14 November 2016. The EPIC China event is being held in collaboration with experienced real estate developer, the Linca Group and the Government of Fuzhou, capital of the Fujian province in China and a city designated as a Free Trade Zone.
EPIC China, with its theme “One Belt, One Road – Infinite Possibilities”, aims to raise awareness on crowdfunding and investments, as well as bringing stakeholders together in one large exhibition space. It promises to be the marque event that brings opportunity providers seeking investment from Southeast Asia (SEA) and beyond to China, leveraging on the region’s economic potential and growth. CoAssets aims to support local small and medium size enterprises (SMEs) through its EPIC event, while being a source for future crowdfunding deals. More than S$4 million in deals have already been secured for the inaugural EPIC event in Fuzhou.
With the opening of an office at the end of last year, China is a key growth region for CoAssets. CoAssets’ registered user base in China currently stands at 2,500, while the Company successfully funded RMB2.1million (circa A$400,000) worth of deals in the month of September alone.
The Company has crowdfunded three Chinese SME projects to date, raising S$243,000 for Jun Cheng Foods Co. Ltd in only four days, 124% more than the initial target amount. Following the success of the first deal, Jun Cheng Foods Co. Ltd sought funds for a second project raising S$166,000 in just three hours of going live. A total of S$407,000 was raised under a week for the two projects. In addition CoAssets was commissioned to crowdfund the renovation of a private social venue in the Gulou District in Fuzhou, and the amount of S$206,000 was raised in just 7 days. Payouts from these crowdfunding projects have already started to occur.
CEO and Co-Founder of CoAssets, Mr Getty Goh, said, “We are very excited to bring our EPIC series to Fuzhou, China and hope that this EPIC event will be a launch pad for many Southeast Asian businesses to venture into China. We have established great relations with the Linca Group as well as the local Fuzhou Government to ensure the promotion and development of crowdfunding in the region.”
“We were appointed the organising partner by virtue of our strong presence, expertise in successfully delivering high quality large-scale expos across the region, as well as our thought leadership in the FinTech crowdfunding space. We are excited by the pipeline of opportunities that lie ahead.“
CoAssets’ EPIC China will be one of five pavilions at the major event which forms part of the 2016 Maritime Silk Road International Tourism Festival China. The other pavilions include travel and tourism, home living and wedding services. The whole event is expected to draw an attendance of 200,000+ with over 1,000 booths on display. Attendees will include Chinese investors, business leaders and the general public. China is the largest online alternative finance market in Asia Pacific by transaction value and a large market for CoAssets to tap into as peer to peer lending is estimated to grow to $127 billion in the region by 2020.