In an ASX announcement, DomaCom said it has entered an agreement with Domain which will connect Domain’s vast property listing data with DomaCom’s crowdfunding technology.
The agreements will also see Domain’s market intelligence integrated into the DomaCom crowdfunding platform in order to provide analytics to investors.
DomaCom said the arrangement will help the platform target the consumer market directly, particularly the Generation Y market.
Once a campaign starts, DomaCom said its crowdfunding platform facilitates external independent due diligence on the selected property bringing additional rigour to the analysis of the selected property before investment.
DomaCom chief executive Arthur Naoumidis said this new integration will be critical for taking property crowdfunding into the mainstream.
"The highly regarded, proprietary crowdfunding campaign technology the DomaCom platform brings, combined with Domain’s extensive property listing data will enable Gen Y and Millennials to get on the property ladder by crowdfunding a property of their choice with their friends or family,” said Mr Naoumidis.
“Additionally, this innovation will give property owners access to the new crowdfunding revolution simply by listing their properties on Domain and at the same time open up a vast new pool of potential investors to the DomaCom platform.”