What does Monific, the new regulated real estate crowdfunding, do? It will seek to fund projects for 70 million pesos in 2023

Monific will be a company regulated under the terms of the Law to Regulate Financial Technology Institutions, known as Ley Fintechso it joins the universe of platforms collective real estate funding that have attained authorization.

Currently, the National Banking and Securities Commission has given the final endorsement to five trading platforms crowdfunding real estatewhich are:

• 100 Ladrillos.
• M2Crowd.
• Arces.mx.
• TopKapital
• Monific (Awaiting its publication in the Official Gazette of the Federation).

What these entities basically do is connect investors to allocate funds to the development of real estate projects in exchange for returns that can be from 10 percent.

Currently, the companies in this field that are seeking to obtain their final endorsement are:

Related Post

Ford, GM, Arm, Adobe, Nucor, KeyCorp, and More Stock Market Movers

September 15, 2023

Ford, GM, Nvidia, AMC, Norwegian, HP Inc., Delta, and More Stock Market Movers

September 14, 2023

Some Chinese Stocks Are a Real Bargain Now. Alibaba Is One of Them.

September 13, 2023

C3.ai, Apple, GameStop, UiPath, ChargePoint, Yext, BlackBerry, and More Market Movers

September 7, 2023

• Expansive.
• Briq.mx.
• PM2.mx.

However, Monific sets itself apart from the rest by looking real estate projects focused on tourism.

According to information from the company founded by David Agmon and Ted Senado, by 2023 it seeks to fund more than 70 million pesos in six projects in touristic destinationswhich will be added to those that have already anchored in Tulum, Bacalar, Playa del Carmen, Puerto Escondido, Mexico City, San Miguel de Allende, La Paz and Baja California Sur.

“Investing in real estate allows you to back your money in a tangible asset that, in addition to generating capital gains, offers returns from one of the leading sectors in the country such as tourism through vacation rentals,” the firm recently highlighted when reporting on the results for 2022 and prospects for 2023.

Results 2022

Monific is a platform that was founded in January 2018, in order to form groups of people interested in investing in real estate developments of experience, in order to have returns that can be attractive.

“The investment can be made from $1,000 pesos with an average annual return of 12% to 15%,” said the firm.

According to David Agmon, co-CEO of Monific, during 2022 the platform organized seven funding campaigns and reached 31,615 investors; delivered yields for 14 million pesos and raised resources for more than 155 million pesos.

“2022 was a year full of challenges for the majority of Mexicans, where we fought against the inflationHowever, Monific continues with its shirt on to continue creating investment opportunities that allow it to safeguard the value of the money of all its investors”, Agmon commented.

Likewise, last year it expanded its financing scope with projects such as Monific Travel, to combine options for vacation reservation offers, quality in accommodation destinations and professionalism in property management.

During 2022, the firm expanded its reach to destinations such as Puerto Escondido, San Miguel de Allende and La Paz and this 2023 it hopes to reach more regions.

It is expected that, in the coming days, the document of its final authorization under the Ley Fintech be published in the Official Gazette of the Federation.