Momfo takes $14m for property financing platform

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.

Copyright © 2016 FINTECH GLOBAL

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst

Investors

The following investor(s) were tagged in this article.