facebookBRDGE P2P Lending Reviews and Comparison - Seedly
P2P Lending/BRDGE P2P Lending
P2P Lending/BRDGE P2P Lending
4.4
228 reviews
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BRDGE Review 2021

BRDGE, previously known as Seedin, is a MAS licensed P2P lending platform that aims to connect businesses to alternative sources of funding.

At the same time, it's also a platform for investors seeking to diversify their investment portfolio.

Based on the reviews left on Seedly, many users have commented that BRDGE is a credible platform with a user-friendly interface, has a diverse range of portfolios to choose from, and an overall low default rate.

As an investor on BRDGE, you will fund short-term loans and receive risk-adjusted returns of between 5% to 17% p.a. repaid monthly. To start investing, the minimum investment for BRDGE is S$1,000.

BRDGE Investors can get to choose the type of businesses they prefer to fund according to the level of risk while businesses can choose what type of financing they require. BRDGE will then help match these 2 parties accordingly. It's really that simple!

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BRDGE P2P Lending

15% on interest earned

INVESTOR FEES

$1000 per campaign

MINIMUM INVESTMENT

2.55%

DEFAULT RATE (2020)

BRDGE P2P Lending

15% on interest earned

INVESTOR FEES

$1000 per campaign

MINIMUM INVESTMENT

2.55%

DEFAULT RATE (2020)

Reviews (228)

4.4

228 Reviews

5
157
4
40
3
11
2
6
1
14

Service Rating

User Experience

4.2

Portfolio Transparency

4.2

Customer Support

4.1

Quantity of Deals

3.7

Quality of Deals

3.9
    Most HelpfulMost RecentLow to HighHigh to Low
      Posted 21h ago

      Purchased

      BRDGE P2P Lending

      It's a horrendous experience. Basically, you will be losing all your money most of the time on this platform. The customer service is not helpful at all.

      0

      What are your thoughts?

      Posted 21d ago

      Purchased

      BRDGE P2P Lending

      Brdge Technology Pte Ltd (previously Seedin Technology Pte Ltd, New Union) 1) Managers are too busy with events & meetings rather than to address investors' concerns in concrete ways most of the time. E.g. Backend technical error, schedule said paid but no fund in, late penalty fee not consistently enforced and calculated wrongly-- 》 no due diligence 2) Things mentioned in the original contract (e.g. security doc) and by right supposed to show investors before entering into a contract but these are classified by Brdge as non-disclosure items. 3) Staff would tell you 'compliance' and thats the reason why they wont give CEO Amos' business email. 4) Brdge facebook reviews got at least 10 fake reviews which after alerting their social media team, nothing has been done so far. 5) Brdge App deleted my comment when I gave feedback to Brdge appointed vendor to quickly resolve the back end technical glitch 6) Intercom is removed for an upgrade. It has been 1 mth plus and it is not back yet. Numbers given very hard to call, likely due to swamp with too much other work. 7) Staff tends to compare themselves to funding society. Funding society charges significant late fee to borrowers. At least, from investors' point of view, this is fair. Brdge is a different story. Why not focus on improving yourself instead of comparing yourself with what you deemed as "worst"? 8) Interest for some companies need to chase. If you enjoy chasing, you invest lor. Why MAS regulated firm still so many issues? :( What are your thoughts?

      0

      What are your thoughts?

      Posted 24 Apr 2022

      Purchased

      BRDGE P2P Lending

      Invest at your own risk. Multiple delays in repayments / defaults with perpetually no chance of recovering your principal invested. Client service is also non existent, giving template responses when asked about repayment plans.

      0

      What are your thoughts?

      Posted 22 Apr 2022

      Purchased

      BRDGE P2P Lending

      Bad experience with default. Customer service not responding and no post default management apart from extending deadline and not getting money back.

      0

      What are your thoughts?

      Posted 13 Apr 2022

      Purchased

      BRDGE P2P Lending

      I have invested in a number of deals on this platform. The first 4 deals that have reached maturity, the borrower is unable to repay capital. I don't even dare think about what will happen for the remaining deals. If a borrower is unable to repay, there should be some sort of explanation. When I needed answers on this, I was only told that all of them had cashflow issues and that is all, same standard answers and no details on why they are not able to repay. They are unwilling to disclose further details. Where is the transparency and accountability towards its investors? The customer service is almost non-existent, no response on intercom chat, email takes 3 days or more (to reply a simple question) and when you get a reply it is always a template answer. There are much more issues which lies in this company so I would advise those are thinking of putting their hard earn money here to think twice before doing so.

      0

      What are your thoughts?

      Posted 24 Mar 2022

      Purchased

      BRDGE P2P Lending

      Used to be better. [Debt Recovery] Default rate more than 50%. [Customer Support] Doesn't respond to queries or update when there's a payment reschedule. [Risk Assessment] Be prepared to lose all your capital. I thought i could help local SMEs (even if i don't get any interest back) but now i would rather donate all my spare money to proper charities. At least i know the recipients won't waste it.

      0

      What are your thoughts?

      Posted 21 Jan 2022

      Purchased

      BRDGE P2P Lending

      [Risk Assessment] [Debt Recovery] [Lending Experience] [Borrowing Experience] [Customer Support] Invested in DP Construction whereby there are lapse in repayment. No updates on the status, just left hanging since last year. Understand capital not protected but least show us there was an attempt to recover the funds? I find that BRDGE is not transparent, even when asked they gave me template reply. I would not recommend using this platform. You are better off investing through other medium

      1

      What are your thoughts?

      Very concerning as the Brdge deal I am involved in is heading down this path! Oh no!

      Posted 10 Nov 2021

      Purchased

      BRDGE P2P Lending

      [Debt Recovery][User Friendliness][Portfolio Diversification][Lending Experience][Customer Support] Have been with seedin/brdge for 3 years now, and have invested a large portion in. However, none of my deals have been successfully returned, with constant extensions and delayed repayments. (One of which has been delayed over a month now). This came along with almost 0 contact with their investors regarding the situation, and any contact you make with brdge will come with a non-reply. The UI/UX for tracking repayments and delays are horrid, possibly intentionally obscuring investors from which deals are delayed. With the limited number of deals, diversification is nigh impossible too. Supporting local SMEs is important, but safeguarding the interest of local investors is too. I hope management could better consider their communication with investors on repayment statuses (at least a weekly update?) And be more transparent about delays/default rates. Until then, I would suggest new investors to seek some other platform like FS that does a better job at this.

      0

      What are your thoughts?

      Posted 06 Oct 2021
      Investing since May 2019 (updated Oct 2011) Pros: - the thing i like most about them is the speed of topping up. typically takes a couple of hours for them to verify the top up of funds. Their deals are also typically quite big with minimum investment of 1k so it is generally quite easy to fund out - i find their factsheets to be quite detailed (similar level to funding societies) Cons: - most of the loans are larger so if you have limited capital then you may not be able to diversify as much - lower quantity of deals compared to other platforms Update (Oct 2021): - a few of the bigger deals have been having problems repaying. I'm ok with this as I have been in the SME lending space myself for 10 years and this is nothing new to me, but the UI doesn't include a "notes" or "updates" for these delinquent loans, making it hard for investors to track. I think the UI needs to be updated as other funders like Minterest and FS do provide these updates for our viewing - recent deals have been increasing but imo credit doesn't look as stringent as before with a few fairly questionable deals. Suggestions to Management: - Not sure on the default rate reporting but IMO anything thats restructured should be reported under NPL/default rate on statistics (even if they <90days late as per repayment schedule). This is for transparency to the newer investors - UI can be improved. Have a dropdown menu under the cases for "Notes" and put updates for cases with delayed payment. More details are needed also, as to what actions the borrowers are taking to get back on the right path (cutting costs, alternative streams of revenue). I believe more pressure needs to be exerted on the borrowers as well - priority needs to be on protecting the retail investors.

      0

      What are your thoughts?

      Posted 05 Oct 2021

      Purchased

      BRDGE P2P Lending

      [Debt Recovery] Have invested in 3 different listings, total investment of 7000. All 7000 in the midst of default, each listings have extended by more than 12 months, monthly payments are not through too. Will not recommend to participate in P2P with Seedin/Brdge, can consider Funding society instead.

      0

      What are your thoughts?

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      BRDGE for Investors

      Here are the benefits and features of investing with BRDGE:

      • Investors can get up to 5% to 17% p.a. of returns paid monthly
      • At BRDGE, investors can choose the types of diverse loans to fund and their respective tenure - from Real Estate Development to Marketing and Communications over a course of 3 to 24 months.
      • The short tenure is ideal for investors looking for shorter term investment opportunities.
      • Choose from a variety of markets from Singapore, Taiwan, Philippines to Cambodia
      • There has been 100% repayment rate to investors since 2013 with the default rate under 1%
      • Additionally, investors get paid monthly which means not having to wait for the loan maturity.
      • If a Borrower fails to make full repayment, BRDGE can charge a late fee which would then be split between the itself and the funders
      • It is a safe and reliable platform licensed under MAS; however, returns on investments and capital are not guaranteed as they are not SDIC protected.

      Risk Level

      % Returns

      Tenure

      Interest payment method

      High

      11%-12%

      1 -24 months

      • Reducing Balance
      • Balloon Payment

      Moderate

      9%-10%

      1 -24 months

      • Reducing Balance
      • Balloon Payment

      Low

      7%-8%

      1 -24 months

      • Reducing Balance
      • Balloon Payment

      Rate of Returns for Investors on BRDGE

      How to Invest with BRDGE?

      Individual investors have to be at least above 18 years old, with a valid mobile number, documents, and an eligible local or foreign qualifying full bank account.

      Corporate investors have to be incorporated in Singapore, with a valid mobile number and an eligible local or foreign qualifying full bank account.

      To create an individual investor's account:

      1. Register online, provide any relevant personal details, and agree to the risk disclosure as well as platform agreement
      2. Wait up to 3 working days for your KYC Approval
      3. Top-up at least S$1,000 to begin investing, when your account is open

      After a successful crowdfunded loan, a loan agreement will be created between investors like you and the business.

      If the crowdfunding campaign is a bust, your funds will be released back to your account and you can try again after doing your analysis of the various SME loans and portfolios out there.

      BRDGE For Borrowers

      Sometimes businesses need a little help with cashflow for things like inventory, equipment costs, unexpected expenses or even expansion. BRDGE can help match those seeking short-term business loans with a pool of willing investors.

      Here are some of the features of BRDGE for Business Financing:

      • BRDGE provides loans in the form of business loans. It helps businesses boost cashflow easily through BRDGE's flexible and fast p2p financing.
      • BRDGE is more likely to fund SMEs than other traditional financiers like banks.
      • Additionally, the repayment of loans is done via fixed rates so there will not be additional hidden costs.
      • Investing can be done through a corporate entity or just individually
      • More about BRDGE for lenders:

      Repayment Term

      1 to 24 months

      Type of Rate

      Fixed Rates
      No hidden fees, simple and transparent

      Early Pay Off

      No penalty for early repayments

      Fund Amount

      from $20,000 to $5,000,000

      Minimum Investment and Fees for BRDGE

      The minimum investment for BRDGE is $1,000.

      Risk Management Fee: 15% of all fees earned

      Account Management Fee: S$88

      Withdrawal Fee: There are no fees required to withdraw your funds from BRDGE

      Success Fee: 3% - 5% p.a. for every successful crowdfunding exercise. (For Borrowers only)

      Contact BRDGE

      • Tel: 6916 1799
      • Address: 57 Mohamed Sultan Rd, #03-05, Sultan-Link, Singapore 238997
      • Visit BRDGE official website for more information

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.