Shojin Property Partners to launch eBay-esque secondary market
Shojin Property Partners will soon launch a bespoke eBay-style secondary market.
Speaking at the P2P Investing Summit, a virtual event hosted by Peer2Peer Finance News and AngelNews, Jatin Ondhia, chief executive at the peer-to-peer lending property investment platform, said that his platform will soon launch an online secondary market to accommodate bespoke deals.
He said investors will be able to buy and sell investments to each other with the capability to negotiate the price.
Read more: Collaboration between platforms forecast this year
“For quite a while now we’ve looked at various versions of a secondary marketplace and we will soon be launching it,” said Ondhia.
“The one we settled on is a very bespoke type of secondary marketplace, a little like eBay, where if an investor wants to sell interest on a project they can put it on the platform, put it at the price they want to sell it and someone makes an offer and you can negotiate.
“Unlike P2P where you process thousands of loans at par in the marketplace, this would be a handful of more expensive loans.”
Ondhia said Shojin Property Partners also aims to lower its minimum investment from the current £5,000 requirement.
Read more: Shojin swings into the black and readies for Series A fundraise
“Our core vision is to enable anyone around the world to create wealth by investing a fractional amount in this space,” he said.
“One day we will allow £50 investments but at the moment the market is not quite mature enough.”
Ondhia added that investors are becoming savvier and looking at details more, which allows the better platforms to flourish and stand up to scrutiny.
He said has also been talking to other P2P lending platforms to collaborate and create a European super-marketplace with a centralised set of statistics and documentation among other things.
Read more: Every IFISA that is open for investment right now
“This is to facilitate a deeper liquidity marketplace and if we get that done I think we’ll finally get toward something we all had visions of, lots of people trading lots of things at one time,” Ondhia said.