CNBV authorizes real estate firm for real estate crowdfunding

410

According to estimates by the firm, real estate crowdfunding in Mexico could grow up to 200% by the end of 2021 with a clear and defined regulatory framework.

Real estate crowdfunding proptech M2Crowd, specialized in financing for housing developments in Mexico, received authorization from the National Banking and Securities Commission (CNBV) to operate as a Collective Financing Institution (IFC).

The foregoing, under the guidelines of the Law to Regulate Financial Technology Institutions, is better known as the Fintech Law.

As will be recalled, in February 2019, it was the first fintech company to request authorization from the CNBV as a Financial Technology Institution (ITF), but due to the pandemic, a little more than two years later the platform received notification of its authorization from the Commission to continue its work.

M2Crowd has 30 thousand users and they have raised 300 million pesos to fund 60 projects in CDMX and Querétaro. With the authorization, the company maintains an expectation of positive growth, and they estimate to reach 75 thousand users in 2021, in addition to completing funding campaigns for 120 million pesos.

“The authorization supports the viability of our processes, which from the beginning have been aligned with the regulations of national institutions, such as AFICO, and international ones, such as the Financial Conduct Authority (FCA) of the United Kingdom. It will allow us to continue growing and boosting both the real estate market in Mexico, as well as the growing fintech industry, ”said Simon Dalgleish, CEO of M2Crowd.

According to estimates by the firm, real estate crowdfunding in Mexico could grow up to 200% by the end of 2021 with a clear and defined regulatory framework.

Source: realestatemarket.com.mx

Mexico Daily Post

Yucatan Beachfront Real Estate