It provides peer-to-peer (P2P) lending services, where borrowers (potential SMEs) can get unsecured business capital loans of up to SGD0,000 funded by platform lenders (individuals or institutions seeking … All content is posted anonymously by employees working at Funding Societies. FUNDING Societies, a peer-to-peer (P2P) lending platform in Southeast Asia, surpassed the S$200 million (US$145.35 million) mark in total crowdfunded SME loans. Funding Societies vs StashAway. Funding Societies Malaysia Mobile App Review. This is also my first response on Glassdoor, in part to test out the "review response" feature, so picked a friendly post, sorry if it looks bad! What fees do you charge? Funding Societies is a P2P lending platform that allows you to earn interest when you lend your money to a SME. Is it a good platform for investment? Well, at least in ... , Kah Meng co-founder, Funding Societies Malaysia. Let’s It made its debut in Malaysia in February 2017. It is also one of the nation’s leading P2P Investment platforms, where anyone can invest in up and coming Malaysian enterprises to earn high returns at low investment. Hi everyone,Does anyone here do invest in funding societies? We are taking this opportunity to streamline the business and conclusively bring the company to profitability. Wong Kah Meng, Co-founder and CEO, Funding Societies Malaysia. This achievement comes six months after crossing S$100 million (US$72.67 million) in January this year. With Curlec’s integrated […] This is the Funding Societies company profile. Service fees charges. 2020 performance review. https://ringgitohringgit.com/.../funding-societies-malaysia Nonetheless, due to … Funding Societies is Singapore and Malaysia's safest, fastest growing, and most innovative peer to peer (P2P) lending marketplace. Glassdoor gives you an inside look at what it's like to work at Funding Societies, including salaries, reviews, office photos, and more. Funding Societies has achieved less than 1.5% in default rate . Thanks for leaving a review, and we agree that loan/deal flow is extremely important for platform like ours. Written by Shaun Updated over a week ago Service fees are deducted when repayments is repaid to you. 40 Funding Societies reviews. Should they become insolvent one day, the funds will continue to be handled escrow agency Vistra Trust. Investors. I am a fresh graduate that been worked for 1yr+6m, then I realise I should start taking some saving out for investment. The platform has disbursed more than RM400 million (US$102.7 million) in financing to SMEs across Southeast Asia whilst maintaining one of the lowest default rates of less than 1.5%. Funding Societies provides business financing through crowdfunding from individuals like you and me. Funding Societies, which was founded by Kelvin Teo and Reynold Wijaya, is a P2P lending platform that connects SMEs in Malaysia, Singapore, and Indonesia with retail and institutional investors. KUALA LUMPUR, Malaysia, Jan. 12, 2021 /PRNewswire/ -- Whilst the global economic effect of the COVID-19 pandemic has posed challenges at almost all industries in 2020, Funding Societies believes that it has also served as an accelerator for FinTech adoption – and, in the case of financial services – it has led to an increased use of digital financing solutions. By Leckas on Saturday, May 4, 2019. KUALA LUMPUR, Malaysia, Jan. 12, 2021 /PRNewswire/ — Whilst the global economic effect of the COVID-19 pandemic has posed challenges at almost all industries in 2020, Funding Societies believes that it has also served as an accelerator for FinTech adoption – and, in the case of financial services – it has led to an increased […] Meanwhile, StashAway is a robo-advisor that invests your money into a globally diversified portfolio that includes stocks, bonds and commodities. Default rates are currently at around 1.5% across the countries Funding Societies operate in – Indonesia, Singapore and Malaysia. To-date, their default rate stands at 1.14% which is relatively decent in my books. Service fees charges. Your response will be removed from the review – this cannot be undone. Platform: Funding Societies holds the investors’ funds in a trust account. English (39 reviews) Other. Go to Funding Societies Malaysia. Both forms of investments are risky. # Funding Societies Malaysia # Funding Societies Malaysia is part of Modalku Ventures Sdn Bhd Licensed by the Securities Commission Malaysia (SC) - 1190266X Please contact info@fundingsocieties.com.my or call us at +603 2202 1013 from Mondays to Fridays 9:00 AM to 6:00 PM MYT (excluding public holidays) Stocks, bonds, ETFs, mutual Funding Societies: Key digital financing and FinTech vertical to continue momentum in 2021 KUALA LUMPUR, Malaysia, Jan. 12, 2021 /PRNewswire/ -- Whilst the global economic effect of the COVID-19 pandemic has posed challenges at almost all industries in 2020, Funding Societies believes that it has also served as an accelerator for FinTech adoption – and, in the case of … Funding Societies do themselves vet through the various SME issuers through its rigorous and rigid scorecard-based risk assessment. Go to Funding Societies Malaysia. Kuala Lumpur, 1 August 2018 – Curlec, the payments company simplifying online Direct Debit, is pleased to announce a partnership with Funding Societies, the first and largest peer-to-peer (P2P) financing platform in Malaysia. When it comes to investing, there are many investment options to choose from. As I write, Funding Societies had progressed as they had funded a total of RM 643.71 million to local SMEs. Understanding Defaults. Interest Rate, Service Fee, and Tax. 30 were here. All Collections. Funding Societies RM1 Billion in 2020. Thus, if you are interested in investing via Funding Societies, you may sign up via the link below: Link: Sign Up to Invest at Funding Societies Investors. And our renewed commitment to the local business community in future. Funding Societies is a Southeast Asia leading P2P lending platform headquartered in Singapore.. Kelvin Teo and Reynold Wijaya founded Funding Societies in 2015 while they were studying at Harvard Business School. What fees do you charge? THE country’s largest peer-to-peer (P2P) financing platform operator, Invest now for attractive and reliable returns or apply for business loans! Getting started. Loan agreements in place will not be dissolved and a reputable agency … Funding Societies is now Malaysia’s leading P2P Financing platform, making it the preferred alternative financing option for SMEs across Malaysia. No hidden fees and costs, and service fees are deducted only when you earn on interest I . All Collections. FUNDING SOCIETIES Review: Peer to Peer Lending group page. KUALA LUMPUR, Malaysia, Jan. 12, 2021 /PRNewswire/ — Whilst the global economic effect of the COVID-19 pandemic has posed challenges at almost all industries in 2020, Funding Societies believes that it has also served as an accelerator for FinTech adoption – and, in the case of financial services – it has led to an increased use of digital financing solutions. ... while Singapore and Malaysia are not far behind. Although I knew about Funding Societies Malaysia mobile app for quite some time, I have only installed it recently as I prefer to use the website instead. Ok, some background story. Why it happens Written by Shaun Updated over a week ago Repayment delays and defaults are the investment risk associated with P2P lending, especially in the SME lending space. Then one day my friend told me about funding societies but he still not very clear with this platform.I did some research by … The tenure of financing is also relatively short (between 1 to 12 months). All Collections. 2019 was a strong year for Malaysia’s peer-to-peer (P2P) financing industry as total financing increased to RM521 million cumulatively and is expected to continue to thrive in 2020 with RM 1 billion in total financing, according to Funding Societies Malaysia. Go to Funding Societies. With this partnership, Funding Societies will become the first Malaysian P2P platform to adopt an online Direct Debit solution. 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