DoshEx launches property investment crowdfunding service for SA investors

SA blockchain startup DoshEx has launched DoshProp, a new property investment crowdfunding service which allows ordinary South Africans to invest in property — and the startup is offering investors a 20% return over 18 months to 24 months in an Australian property development.

DoshEx CEO Alex de Bruyn (pictured above) said in a statement on Sunday (13 October) that The Paradiso, to be constructed in the upmarket Como district of Perth in Western Australia, promises a 20% return on investment over 18 to 24 months.

Every DoshEx user will get the chance to invest in a luxury apartment complex for only R100 per share.

“However, shares are limited and are expected to be snapped up when the offer is released to global traders on 1 November,” he said in the statement.

DoshEx users will get the chance to invest in a luxury apartment complex for only R100 per share

He said as the investment is through a publicly registered SA company, Paradiso COMO Limited, the public can avoid the constraints of SA foreign exchange regulations.

Hosted on blockchain

The fund is hosted on blockchain trading technology, “which is immutable and tamper resistant”, said De Bruyn.

In addition, DoshEx, he said, will be partnering with Edgars Club to bring DoshProp to its over 400 000 members.

“The retail giant has recognised the potential in offering its customers this innovative approach to inclusive wealth creation. Plus, Club members will enjoy additional rewards.” he said in the statement.

The Johannesburg startup launched its exchange platform in August last year. The platform is aimed at assisting those the startup helps develop cryptocurrency and blockchain solutions to buy and sell digital tokens.

The startup secured an undisclosed investment from SA angel investors based in Australia in return for a 20% stake in the company. In December last year De Bruyn told Ventureburn that his startup had already done work for Virgin Money SA (see this story).

Mulling further investment opportunities

De Bruyn told Ventureburn in a call on Tuesday (15 October) that DoshEx is looking at a number of other property opportunities through its DoshProp service. One of these is in South Africa, while two are offshore.

“They’re still in our regulatory and review stage,” he added, explaining that the company is assessing whether the investments comply with exchange control and securities trading regulations.

De Bruyn pointed out he and his team had spent “numerous hours” with the Companies and Intellectual Property Commission (CIPC) and Financial Sector Conduct Authority (FSCA) to ensure the offering is in keeping with regulations.

He said thus far, the company has received “quite a lot” of interest since announcing the new investment offering on Sunday. Most of the interest had come from fund managers that look after investments for those who are not high net-worth individuals, he added.

Read more: Blockchain fad is wearing off says man behind Jozi crypto startup DoshEx

Featured image: DoshEx CEO Alex de Bruyn (Facebook)

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