Funding Societies
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This product is managed by Funding Societies.
Summary
Product Page Transparency
- Claimed in August 2020
- Pays to access additional features
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 Societiesā 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 youāre potentially looking at is 7.82% ā based on the Singapore weighted average in 2020.
This product is managed by Funding Societies.
Summary
Product Page Transparency
- Claimed in August 2020
- Pays to access additional features
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 Societiesā 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 youāre potentially looking at is 7.82% ā based on the Singapore weighted average in 2020.
Funding Societies
18% on interest earned
INVESTOR FEES
$20 per campaign ($100 initial deposit)
MINIMUM INVESTMENT
1.26%
DEFAULT RATE (2020)
Funding Societies
18% on interest earned
INVESTOR FEES
$20 per campaign ($100 initial deposit)
MINIMUM INVESTMENT
1.26%
DEFAULT RATE (2020)
4.1
559 Reviews
Service Rating
User Experience
Portfolio Transparency
Customer Support
Quantity of Deals
Quality of Deals
Most Helpful
Pinned by Funding Societies
09 Apr 2021
Purchased
Funding Societies
[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 5d ago
Purchased
Funding Societies
[Risk Assessment] Numerous deals for secured/guaranteed debts. [Customer Support] responsive and address problems quickly Onboarding is ok. Some hiccups but customer service resolved it.0
What are your thoughts?Posted 31 Mar 2023
Purchased
Funding Societies
Serious cash drag. Makes it a lousy investment plus a low interest yield. At the least it is stable and has very little default.0
What are your thoughts?Posted 17 Mar 2023
Purchased
Funding Societies
[Lending Experience] Made my initial deposit of $100 three days ago through internet banking and the money was available the next day. Also created an auto investment bot as the current investment all seem to require Auto Invest. Into my third day today with no investments yet. Waiting patiently to strike my first funding.0
What are your thoughts?Posted 16 Mar 2023
Purchased
Funding Societies
[Customer Support] I had issue after depositing through internet banking. Send an email to the CS team and they replied next day and solved the issue. UI is pretty clear and easy to navigate as well.0
What are your thoughts?Posted 14 Feb 2023
Purchased
Funding Societies
I have some expectation of the quantity of the investment present so was pretty disappointed at first and decided to withdraw my deposit after about a week of waiting0
What are your thoughts?Posted 04 Feb 2023
Purchased
Funding Societies
Its a easy to navigate platform, and it has auto-investing features to enable diversification according to your needs. customer support has been good too.0
What are your thoughts?Posted 24 Jan 2023
Purchased
Funding Societies
[Customer Support]-Provide necessary information when requested. [Others]-Auto investment help to save the time for auto allocation of fund.0
What are your thoughts?Posted 18 Jan 2023
Purchased
Funding Societies
[Customer Support]-Provide necessary information when requested. [Others]-Auto investment help to save the time for auto allocation of fund.0
What are your thoughts?Posted 29 Dec 2022
Purchased
Funding Societies
[User Friendliness] Took me a while to understand how the platform and debt lending process works. There were also zero standalone (non-auto invest) funding campaigns to test out the platform with small amounts before investing larger amounts. [Lending Experience] None yet, waiting for new standalone campaigns to appear. [Others] FS provides an innovative avenue to invest in SMEs via debt offerings and I look forward to growing this alternate stream of income once more campaigns appear.0
What are your thoughts?
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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.
Investorsā 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 - Itās 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 Nationsā ITU Telecom World in 2017,
Brands for Good in 2019, recognised by IDC as amongst the 5 fastest growing
FinTechs in Singapore, and the StevieĀ® 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 - āSkin in The Gameā philosophy - Funding Societies co-invests with the platform
investors in most notes - Engages an escrow agency to manage investorsā 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 Nationsā ITU Telecom World in 2017, Brands for Good in 2019, recognised by IDC as amongst the 5 fastest growing FinTechs in Singapore, and the StevieĀ® 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.