Crowdfunding investment platform Shojin Financial Services Limited, which claimed to offer "next level property investment", has entered administration after funding projects worth £615m.
Simon Carvill-Biggs and Ian Corfield of FRP Trading Advisory Limited have been appointed as joint administrators, according to an FCA notice this week.
Shojin (FRN 716765) allowed customers to make investments that were used to fund loans in property developments.
According to the FCA Register, Shojin Financial Services received authorisation in August 2017. It has also traded as Shojin Property Partners and as Smartlands Platform.
On its website the firm states: “Shojin is a fractional property investment platform. We share opportunities for global investors to gain exceptional returns. Our approach is proven to outperform mainstream investments.”
It said its original company launched in 2009 as Shojin Capital, “developing property and inviting 'friends and family' investors to join.”
In 2015 it switched to backing external developers moving from investing in its own projects, towards backing other developers requiring junior funding. After receiving FCA authorisation in 2017 Shojin launched its online investment platform.
By 2023 more than £60m had been raised through the Shoijn platform, to fund projects worth more than £615m of gross development value, the firm said.
It went into administration on 23 March with the joint administrators responsible for acting in the best interests of the people who are owed money by Shojin.
The FCA said in a statement: “While investors are not always classed as creditors, they should still benefit if the joint administrators can recover as much value as possible from the property development companies involved.”
It advised anyone affected by Shojin entering administration, that the joint administrators will get in touch with them directly.
The FCA said it was engaging with the firm and the joint administrators to ensure the best outcomes for investors.
• Anyone with questions for the joint administrators should email