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Assetmonk, which lets investors put in their money in fractional ownership of real estate assets, targets attracting ₹500 crore investments in the next one year.
The two-year-old fintech firm with active investor network of 450, had invested ₹120 crore in properties across Hyderabad, Chennai and Bengaluru.
“Besides expanding operations to other cities like Mumbai, we are going to expand the bouquet of offerings. We will tap opportunities in co-living and warehousing,” Prudhvi Chinta, Co-founder and Chief Operating Officer of Assetmonk, said.
Addressing media here on Monday, he said investing in commercial real estate was a complicated and highly expensive matter, making the asset class accessible to only ultra high-networth individuals and and institutional investors.
“While huge entry costs to acquire the asset demotivated several investors, due diligence and managing the asset was an added hassle. We have addressed these challenges and made it available for small investors,” he said.
Investors can put in units of ₹10 lakh each in debt instrument and ₹25 lakh in fractional ownership instrument.
The fintech company has so far invested ₹5.5 crore, with a commitment for another ₹5 crore.
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