South African Crypto Asset Marketplace Facilitates $1.64 Million Capital Raise for Reverse Mortgage Provider
A decentralized cross-asset marketplace in South Africa, Mesh.trade, has successfully raised $1.64 million (ZAR30 million) for Water Financial, a reverse mortgage provider. Through this capital raise, Water Financial can offer homeowners the opportunity to earn lucrative returns while continuing to reside in their homes.
Mesh.trade, a regulated alternative capital raising platform, recently completed the capital raise by issuing 30,000 Series A preference shares, which yield 87% of the prime lending rate. This fundraising initiative is the first of many planned by Water Financial to support its growing lending needs.
Connie Bloem, the Managing Director of Mesh.trade, emphasized that their platform allows investors to access previously inaccessible investments and provides entrepreneurs with a regulated pathway to raise capital. In the upcoming months, Mesh.trade plans to offer more alternative and private capital assets to investors.
Chris Loker, the founder and managing director of Water Financial, commended Mesh.trade’s capital raise, highlighting how it benefits elderly homeowners by allowing them to retain ownership of their homes. Loker also mentioned that investors participating in the capital raise will enable Water Financial to offer homeowners potentially high returns without disrupting their lives.
Loker added, “[The] platform gives investors access to higher than inflation returns from an innovative business looking to disintermediate traditional financial institutions that are unable to service this growing market segment.”
Overall, the capital raise orchestrated by Mesh.trade demonstrates the growing interest and potential of the South African crypto asset marketplace. Through innovative approaches like reverse mortgages, the platform aims to offer unique investment opportunities while empowering homeowners at the same time.