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Funding Societies P2P Lending

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  • Reviews (457)
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P2P Lending/Funding Societies P2P Lending
P2P Lending/Funding Societies P2P Lending
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USER RATINGS

User Experience

4.4

Portfolio Transparency

4.1

Customer Support

4.3

Quantity of Deals

3.7

Quality of Deals

3.8

Funding Societies P2P Lending

18% on interest earned

INVESTOR FEES

$20 per campaign ($100 initial deposit)

MINIMUM INVESTMENT

1.26%

DEFAULT RATE (2020)

[EXCLUSIVE] S$20 cashback for new users with promo code "SEEDLY20". View promotion under "More Details".

Funding Societies P2P Lending

18% on interest earned

INVESTOR FEES

$20 per campaign ($100 initial deposit)

MINIMUM INVESTMENT

1.26%

DEFAULT RATE (2020)

[EXCLUSIVE] S$20 cashback for new users with promo code "SEEDLY20". View promotion under "More Details".

Details

Product Page Transparency

  • Claimed in August 2020
  • Pays to access additional features

Funding Societies Review 2021

Funding Societies is a peer-to-peer lending platform which specialises in short-term financing for SMEs through crowdfunding.

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 by providing short-term fixed-income investment options.

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 9.82% — based on the Singapore weighted average in 2019.

Read More about Funding Societies P2P Lending
Reviews (457)

4.1

457 Reviews

  • 5
    209
  • 4
    176
  • 3
    25
  • 2
    14
  • 1
    33

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    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.

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      Posted 16h ago

      Purchased

      Funding Societies P2P Lending

      Dashboard needs improvement so that accurate information is presented. There's better P2P platforms out there

      0

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      Posted 14d ago

      Purchased

      Funding Societies P2P Lending

      I haven't invest in any portfolio yet but I have go through this platform which is user friendly and full of information. It will helps for the beginner to invest.

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      Posted 16d ago

      Purchased

      Funding Societies P2P Lending

      I have yet invest in any portfolio yet but I have go thru the platform which is friendly user and full of information

      0

      What are your thoughts?

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      18d ago

      Purchased

      Funding Societies P2P Lending

      The platform easy to use but i still unable to make any investment yet. Hopefully get to invest soon

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      Exclusive Promotion with Seedly

      • Sign up with the promo code 'SEEDLY20' and make a total investment of at least S$200 within 30 days of signing up to be eligible for the $20 cashback
      • Cashback will be credited into your account by the end of the following month when the 30-day period ends
      • Click on the "Visit Site" link or "Apply Now" button to sign up
      • Promotion is applicable for new users only
      • Funding Societies' investor T&Cs apply

      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 2.7 million business loans with over S$1.6 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.