I guess it is the timing of the market. We saw real estate breakdown around 2012 and then people started investing heavily in mutual funds. Mutual-Funds-Sahi-Hai campaign was run so aggressively but now people are disappointed by the returns esp. debt funds( frankly, the returns are not great for the risk they carry). So they are is a large void/ need for new asset classes. At least this is my understanding.

There are also attempts which are seeing early success such as KredX, SmallCase etc.

What is your understanding/ guess?