Momfo, a Shanghai-based property financing platform has raised ¥95m ($14m) in a Series A round of funding. The investment was jointly led by Gobi Partners and Kaitai Capital.
Launched last year the company provides short-terms financing to real estate companies, hotels and landlords to increase property utilisation through crowdfunding campaigns.
Founded in August 2015 Momfo aims to allow ordinary consumers to invest in property with a low threshold for investment of ¥1,000 ($150) and claims to offer an annualised return rate of between 8% and 15% on investments.
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