Real estate fintech Max Property Group secures EUR500,000 investment for global expansion
Max Property Group, the owner and operator of the international real estate crowdfunding platform Max Crowdfund, has raised just over EUR500,000 in equity investment. The capital will be used for the international expansion of Max Crowdfund.
Max Crowdfund announced its expansion into New Zealand in January 2021 and is on schedule to launch Maxcrowdfund.co.nz on or before the 1st of April 2021. The company has also since signed contracts for Sweden, the United Kingdom Canada and Australia, as a part of its joint venture scheme.
“We are the only crowdfunding platform we know of that is globally expanding using a joint venture model. Our target is to have launched Max Crowdfund in New Zealand, Australia, Sweden, Canada and the UK by the end of Q2 2021, and we are currently in advanced talks with interested parties in the United States and South Africa, which we aim to launch during 2021 as well,” says Anne Visser, COO at Max Property Group.
Max Crowdfund is the first real estate crowdfunding platform using blockchain technology to receive approval from financial regulators in the Netherlands and adapts its software to comply with new European Union Crowdfunding Regulations which will come into effect in November 2021. The new regulations will facilitate cross-border transactions and allow real estate backed loans as well as equity opportunities across Europe to be listed on Max Crowdfund. They will also allow for a secondary market via a Bulletin Board, providing much needed liquidity to real estate investment products.
Max Crowdfund has already been approved by payment providers which will allow the platform to accept all European currencies by the end of Q2 2021, in line with the platform’s rapid expansion plans.
“Max Crowdfund is hitting many milestones. With tens of thousands of global users, EU financial regulation, new countries joining the joint venture scheme, and our ability to accept all European currencies, we expect the platform to grow exponentially over the next few months and years,” says Max Crowdfund’s CTO Erwin van Kekem.
To keep up with developments, Max Property Group has prepared a Series A equity round, with the intention to raise EUR4.25 million. The funds will be used for the technical development of the platform and obtaining regulatory approvals as it expands into new jurisdictions.
The structure for the equity round has already been set up. Max Property Group issued a total of 12,000,000 shares of which 3,300,000 shares have been assigned to a cooperation, the Max Property Coöperatie UA (MPC). In turn MPC issued 3,300,000 Max Property Group Share Certificates (MPGS), which are maintained in a register of MPGS holders and are of course registered on the blockchain. Each share certificate is valued at EUR2.50 in the series A round and has the same voting rights and right to profit share as common shares.