Crowdfunding startups sprouting up in Hong Kong

Real estate opportunities roll out.

Hong Kong-based real estate crowdfunding platform Crowdbaron said it has secured an unspecified amount of funding from GrowVC Group, a leading global pioneer of securities crowd funding and new investment models established in 2009.

Crowdbaron allows investors to purchase as little as a 1% stake in real estate opportunities. It claims to have 500 registered users who have built up a property portfolio worth some US$3 million.

Another Hong Kong-based crowdfunding startup, fund2.me, seeks to launch a hybrid crowdfunding platform that aims to offer three forms of crowdfunding. The platform is expected to launch in December.

Crowdfunding is the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations. It is also called crowd financing and crowd-sourced fundraising.