How crowdfunding is democratizing real estate investing

"Crowdfunding means democratizing access, in our case, to large-scale commercial real estate assets," says Rodrigo Niño, founder and CEO of Prodigy Network.
“Crowdfunding means democratizing access, in our case, to large-scale commercial real estate assets,” says Rodrigo Niño, founder and CEO of Prodigy Network. – TIMOTHY A. CLARY/AFP/Getty Images

Facebook recently introduced a crowdfunding feature called Personal Fundraising hoping to emulate successful crowdfunding platforms like GoFundMe. But crowdfunding has also become a popular source of financing for real estate developments. It exploded onto the scene since 2012 when the federal Jumpstart Our Business Startups (JOBS) Act, changed the way individuals could invest in projects or companies. Rodrigo Niño is founder and CEO of a platform called Prodigy Network, which uses crowdfunding to build commercial real estate, like the tallest skyscraper in his home country of Colombia. Marketplace’s Molly Wood talked with Niño about crowdfunding. Below is an edited transcript of their conversation.

Source: How crowdfunding is democratizing real estate investing

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