addy, Real Estate Crowdfunding Investment Platform, Fined $100K By BCSC

Vancouver-based Addy Technology Corp., a real estate crowdfunding platform, has agreed to pay a $100,000 fine to the British Columbia Securities Commission (BCSC) for operating without proper registration. The BCSC found that Addy had been functioning as an unregistered trader since its inception in 2018.

Addy allows individuals to invest in real estate projects with as little as $1 by purchasing shares or limited partnership units through its online platform. Between July 9, 2018, and February 14, 2025, the company facilitated approximately $26 million in securities trades, with the average investment being around $700 per investor.

The BCSC determined that Addy was required to register as a securities dealer due to its activities, which included soliciting investments via its online platform, emails, and social media; acting as an intermediary in securities trades; and receiving compensation through fees. The commission noted that Addy attempted to rely on certain registration exemptions, but these were deemed inapplicable.

Specifically, Addy sought to use the "crowdfunding" exemption, which was not applicable because some of the issuers had principals in common with Addy. Additionally, the exemption involving the use of registered exempt market dealers (EMDs) did not apply, as Addy continued to solicit prospective purchasers, contrary to national rules regarding the use of such dealers.

The BCSC acknowledged that Addy has no prior history of securities regulatory misconduct and that the company voluntarily provided information during the investigation. Addy has since applied for registration as a dealer, aiming to ensure compliance with regulatory requirements moving forward.

Co-founder Stephen Jagger expressed optimism about the company's future, stating that becoming a registered exempt market dealer is a significant milestone. He emphasized that this development will allow Addy to continue building innovative technology that makes real estate investing accessible to all Canadians, while operating with greater oversight and transparency.