Alternative investment platform technology provider Goji has made a slight change of gear to provide the functionality behind classic car investment fintech TheCarCrowd.
TheCarCrowd lets investors purchase fractional shares in classic cars and earn returns from growth in the value and fees from TV, music, press and rentals.
It will use the Goji platform to provide the investor onboarding, client money and asset registration processes.
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“Goji is delighted to partner with innovative companies like TheCarCrowd that give clients access to assets that typically are out of reach for most investors,” David Genn, chief executive of Goji, said.
“By leveraging Goji’s platform technology, firms can rely on our technology-driven, regulatory and operational capabilities. This gives investors a great user experience and allows them to focus on securing the best investment opportunities.”
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Shares range in value from £20 up to £200, with average investment levels expected to be around £1,000.
Once fully funded the vehicle is owned outright by its shareholders and will only be sold if the majority of shareholders agree.
However part-owners can still post their shares for sale at any point using a bulletin board should they wish to release equity.
“TheCarCrowd will use Goji to facilitate investor’s access to a previously unobtainable, yet high returning alternative investment category,” David Spickett, chief executive at TheCarCrowd, said.
“Goji’s platform and expertise enable us to enter this market with a comprehensive premium service to investors and look to scale up our investor base in 2021.”