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P2P Lending/Funding Societies P2P Lending
P2P Lending/Funding Societies P2P Lending
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Funding Societies Review 2021

Funding Societies is a debt investment platform specialising in short-term digital financing for SMEs while providing a convenient and short-term fixed-income investment option for investors.

As a platform, they are committed to providing financial support to SMEs, since four in 10 SMEs lack support from financial institutions. At the same time, they provide financial opportunities for individuals and institutions with their fixed-income investment option.

This way, everyone wins!

The majority of Funding Societies’ investments are short-term with a maximum tenor of 12 months. As an investor, you can start investing with as little as S$20. And the investment returns you’re potentially looking at is 7.82% — based on the Singapore weighted average in 2020.

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Funding Societies P2P Lending

18% on interest earned

INVESTOR FEES

$20 per campaign ($100 initial deposit)

MINIMUM INVESTMENT

1.26%

DEFAULT RATE (2020)

Funding Societies P2P Lending

18% on interest earned

INVESTOR FEES

$20 per campaign ($100 initial deposit)

MINIMUM INVESTMENT

1.26%

DEFAULT RATE (2020)

Reviews (529)

4.1

529 Reviews

5
246
4
203
3
27
2
15
1
38

Service Rating

User Experience

4.5

Portfolio Transparency

4.2

Customer Support

4.4

Quantity of Deals

3.7

Quality of Deals

3.9
    Most HelpfulMost RecentLow to HighHigh to Low
    pinned

    Pinned by Funding Societies

      09 Apr 2021

      Purchased

      Funding Societies P2P Lending

      [Lending Experience] Background: I have been using the platform since Jan 2021, this was simply to see if P2P lending would be something valuable to add to my portfolio. Depositing process: The process was smooth, the transfer was done accurately since I followed their instructions very carefully. I am IT savvy, so no issues here. I imagine some people who are less careful may encounter some issues especially if they forget to put their reference number. Investment/ lending process: Deals / investment opportunities were available and informed in advance via notification in the phone and via email. I didn't want to push too hard and go for the higher risk/ return opportunities, so I went for generally property backed lendings. Defaults: No defaults so far, no late payments, no problems here. Withdrawals: Withdrawals were smooth, I received my money after about 2-3 days.

      0

      What are your thoughts?

      Posted 14d ago

      Purchased

      Funding Societies P2P Lending

      Was recommended by a family member to join. I had not started to have deals yet but had seen his rewards and thats what motivated me to join too.

      0

      What are your thoughts?

      Posted 14d ago

      Purchased

      Funding Societies P2P Lending

      I kena even prior to COVID conditions and "recession" talk. 2 years of gains wiped out because they loan out to companies who do not repay, citing problems, even though got guarantor or property. Declared close case. Oh, and those which do pay back do so late, and no interest on late payment. So you also miss out on new investment opportunities. There are other ways to earn. I won't recommend Funding Societies.

      0

      What are your thoughts?

      Posted 21d ago

      Purchased

      Funding Societies P2P Lending

      Opening an account is easy. Having it activated, well, not so straight forward. Because you need to deposit $100 before anything appears on your home page. Confirmation of a deposit intent also doesn't show until, well, the deposit goes through. So for the skeptical first time investor, well, the 1-2 business days are not easily passed. Pro-tip, do not (like me), deposit on a Friday just before a 4-day long weekend. May be do a Monday. Also, FS, may be turn off the auto emails regarding the first deposit once an intent to deposit has already been made. I mean, I put in $5,000, and keep getting emails to make my first deposit over the long weekend? Plus homepage doesn't show anything except "make your first deposit", which I already did? I mean I understand the business days part, but the user-experience - not so stellar. After activation, tutorials on how to setup investment bots. Ok. Not bad. Except, wow, much nothing. May be it's just a bad time, but there were no portfolios to invest. Like zero. So yeah. What can I say but a whole much of nothing? Well, them FS says I get $10 for writing a review. Let's see how this goes.

      0

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      Posted 21d ago

      Purchased

      Funding Societies P2P Lending

      Reason for lower review was because - 1) Marketing (ads) were thrown all over my face 2) Account sign up was relatively straight forward, but couldn't see any deals before I made the deposit 3) Once deposit was made, had to wait 1 working day to finally realize that there were no deals Curious as to why marketing for sign ups was done when there's no deals on the table

      1

      What are your thoughts?

      Funding Societies Singapore

      Funding Societies Singapore

      7d ago

      Hi Aaron,

      Thank you for taking time to leave us your feedback. Glad that you've found our onboarding process a positive one.

      We're sorry that our marketing efforts bothered you. Marketing is an ongoing business activity and deals are only available when there are suitable ones. As such, the availability of deals may not always be aligned when investors are newly onboarded with us. Nonetheless, we hope to always have a keen pool of investors who are ready to invest when deals are available.

      There were actually several big property-backed deals that were being funded shortly before you signed up. Investors who have a preference for this kind of secured products would have found gainful deployment of their funds. We can expect more of these kinds of big deals in a few weeks’ time.

      To add, with the relaxation of Covid measures and further opening of the economy hopefully, there would be more SMEs who are able to finance with us which would mean more deals for our investors. Do keep lookout for our push and email notifications for new funding opportunities!

      As a new investor, you may also receive several one-off educational email materials on how the platform functions on features like auto-invest. If preferred, there’s also the option to unsubscribe from our mailing list. Kindly note that in doing so, it would also mean that you would not receive notifications about upcoming deals.

      Should you require any further assistance or have any enquiries, you may also reach us via live chat at https://fundingsocieties.com or email [email protected].

      Thank you.

      Posted 20 Apr 2022

      Purchased

      Funding Societies P2P Lending

      [User Friendliness] the apps is easy to use, fast setup and fund received within a day. [Portfolio Diversification] lots of different funding opportunity.

      0

      What are your thoughts?

      Posted 09 Apr 2022

      Purchased

      Funding Societies P2P Lending

      [Portfolio Diversification] I like the Auto Investment features. It help us to automate our Portfolio Diversification based on our risk profile. We only have to monitor our accounts on weekly basis. [User Friendliness] The mobile apps is user-friendly even to a newbie to p2p lending.

      0

      What are your thoughts?

      Posted 06 Apr 2022

      Purchased

      Funding Societies P2P Lending

      [Customer Support] Very swift response and good understanding of the domain [User Friendliness] Simple onboarding, easy to use and the next steps are clear

      0

      What are your thoughts?

      Posted 05 Apr 2022

      Purchased

      Funding Societies P2P Lending

      Love the app and interface. Easy to use and very customer friendly! Will highly recommend to join this p2p lending platform

      0

      What are your thoughts?

      Posted 01 Apr 2022

      Purchased

      Funding Societies P2P Lending

      I just signed up a few days ago to both the MY and SG site. There are more lending deals on MY vs on SG. Perhaps the economy is doing much better here or no one has heard of Funding societies as much as in MY. Would be good to have more deals available. I find the experience to be very intuitive to use, and easy, and the sheets were helpful but it might be nice to still have a bit more information to the receiver of the loan (I've seen that with other funds) including client name, though I'm unsure of the privacy agreements FS might have with them. But it could give more confidence to the loaners to research and weigh their risk appetite against holistic factors of a particular business.

      0

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    Discussions (0)
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      How does P2P Investing Work at Funding Societies?

      Peer to peer Investment (P2P Investment), also known as P2P lending, is an investment concept where individuals & institutions jointly invest in financing to SMEs and earn returns in the form of interests. Funding Societies connects SMEs sourcing for business financing directly with investors who are looking to participate in P2P Investment as part of their investment portfolio.

      Risk Management

      Default by the issuer is the primary risk that investors get exposed to with this type of investment. Funding Societies conducts a detailed assessment on the SMEs based on a framework which combines a mixture of hard and soft data including but not limited to credit bureau ratings, bank & financial statements, cash flow projections, site visits, strength of guarantors, marketability of collaterals and business's capacity to repay the facility.

      Specifically for Property-backed investments collaterals such as residential or commercial properties owned by the issuers or guarantors, are held with a first lien/charge to mitigate credit risk exposures. These properties may be auctioned to recover the investment amount in case of default.

      Investors’ funds are handled by a 3rd party escrow agency, Vistra. Funding Societies also has an inhouse Compliance team and internal and external legal counsel to support regulatory and legal matters.

      What do you need to know as an Investor with Funding Societies?

      • Funding Societies is the largest SME lending P2P investment platform in Southeast
        Asia and licensed in Singapore, Indonesia and Malaysia
      • It’s shareholders include the likes of Sequoia, Softbank and SGInnovate amongst
        many others
      • Funding Societies has won many awards including MAS FinTech Award in 2016, the
        Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017,
        Brands for Good in 2019, recognised by IDC as amongst the 5 fastest growing
        FinTechs in Singapore, and the Stevie® Award in 2020.
      • Funding Societies' minimum investment starts from just S$20
      • Majority of the investments are short term with average tenor of 5-6 months and
        maximum tenor of 12 months
      • Monthly repayment for most products provides liquidity and also allows investors to
        re-invest quickly
      • Interest rates are typically between 4% - 8% per annum for the guaranteed and
        property backed notes and goes up to 8% - 18% per annum for Invoice Financing,
        Business Term Loans and other products.
      • Individuals who are Singapore residents can enjoy tax exemption for their interest
        returns on investments from year 2020 onwards
      • ‘Skin in The Game’ philosophy - Funding Societies co-invests with the platform
        investors in most notes
      • Engages an escrow agency to manage investors’ money to give investors peace of
        mind.
      • Sign up through the web or download the Funding Societies mobile app to invest on
        the go

      Types of Investments with Funding Societies

      Type of P2P Investment

      Description

      Interest Rate

      Guaranteed Property-backed Investment

      Investment into a property-backed financing with repayments effectively guaranteed

      3% - 8% p.a.

      Guaranteed Returns Investment

      Investment into a micro financing with repayments effectively guaranteed

      2% - 8% p.a.

      Property-backed Secured Investment

      Investment into a property-backed financing

      4% - 8% p.a.

      Invoice Financing Investment

      Investment into a invoice backed financing

      8% - 18% p.a

      Revolving Credit Investment

      Investment into a revolving credit line granted to SMEs

      8% - 18% p.a

      Business Term Investment

      Investment into a business term financing

      8% - 18% p.a

      Type of P2P Investments at FS and Interest rates

      Fees for Funding Societies

      • Service Fee: 18% on the interest earned. This fee is deducted only after the repayment has been received.

      About Funding Societies

      Funding Societies | Modalku is the largest debt crowdfunding platform in Southeast Asia. It is licensed in Singapore, Indonesia, and Malaysia, and backed by Sequoia India and Softbank Ventures Asia Corp amongst many others.

      It provides business financing to small and medium-sized enterprises (SMEs), which is crowdfunded by individual and institutional investors.

      In 5 years, it has helped finance over 3.2 million business loans with over S$1.8 billion in funding. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, Brands for Good in 2019, recognised by IDC as amongst the 5 fastest growing FinTechs in Singapore, and the Stevie® Award in 2020.

      Contact Funding Societies

      • Tel: 6221 0958
      • Visit Funding Societies' official website for more information

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