Toronto mall shops for crowdfunding investors

Toronto

A SHOPPING mall in northern Toronto is set to be among the first Canadian real estate projects to be financed partly through crowdfunding.

NexusCrowd Inc is opening its online platform Wednesday to accredited investors who want to contribute a minimum of C$10,000 (S$10,750) for a stake in the property. The company says it's the first in Canada to partner with institutions at the real estate development stage to use crowdfunding, an investing model that has become popular in the US in recent years and is growing worldwide.