Funding Societies Reviews and Comparison - Seedly
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Funding Societies

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  • Reviews (105)
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P2P Lending/Funding Societies
P2P Lending/Funding Societies

Funding Societies

3.8
105 reviews

USER RATINGS

User Experience

4.4

Portfolio Transparency

3.8

Customer Support

4.3

Quantity of Deals

3.7

Quality of Deals

3.6
P2P Lending/Funding Societies

Funding Societies

3.8
105 reviews

USER RATINGS

Read reviews

User Experience

4.4

Portfolio Transparency

3.8

Customer Support

4.3

Quantity of Deals

3.7

Quality of Deals

3.6

Funding Societies

18% on interest earned
INVESTOR FEES
$20 per campaign ($500 initial deposit)
MINIMUM INVESTMENT
1.20%
DEFAULT RATE (2019 Q2)

    Funding Societies

    18% on interest earned
    INVESTOR FEES
    $20 per campaign ($500 initial deposit)
    MINIMUM INVESTMENT
    1.20%
    DEFAULT RATE (2019 Q2)
Reviews (105)

3.8

105 Reviews

  • 5
    42
  • 4
    36
  • 3
    10
  • 2
    3
  • 1
    14

Read Review About...

default rate

debt recovery

user friendly

lending experience

customer support

mobile app

customer service

investment opportunity

loan default

loan time

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  • Updated 2d ago

    Purchased

    Funding Societies

    1) don't get fooled by its low default rate. I don't think it's audited and the actual performance is MUCH HIGHER. they restructure problem loans and roll over to existing and/or new investors (problem loan solved) 2) by restructuring the problem loans, they can continue to collect the fee on interest income whilst they don't solve underlying issue. 3) EXTREMELY POOR debt recovery team. U can guarantee 0% recovery. So good for the borrowers!
    0 comments
    0
  • Updated 2d ago

    Purchased

    Funding Societies

    [Debt Recovery] Poor quality of return, the return rate calculation is also complex and not that transparent. Be careful with relatively high default rate
    0 comments
    0
  • Updated 4d ago

    Purchased

    Funding Societies

    Hi Funding Societies, I appreciate a response because I requested to withdraw from some funding over a week ago and there was no reply; was invested in it nonetheless. Also, please state if the annualised returns are before or after defaults. Defaults are rising, I do not trust your figures already. And I just sent you a chat on more loans I wish to withdraw from that are ongoing. Please withdraw me from them. Thanks
    0 comments
    1
  • Updated 3w ago

    Purchased

    Funding Societies

    [Lending Experience] To be honest, the margin is very low. If you use the money to invest in Reits, you might get better returns over a longer period, say a few years. Although this is something new, this is not really an excellent investment product. Hence, please do your own due diligence before loaning to these companies. Mostly are SMEs that face issues getting loans from banks and FI. During this downturn, they are the ones facing cashflow issues which results in a higher default rate.
    0 comments
    0
  • Updated 4w ago

    Purchased

    Funding Societies

    Well, I would like to share my experience with this platform & anyone who is investing in P2P lending. In the span of the last 2.5 years, I invested around 100000 SGD on which I made around 4K SGD as profit after all the fees after 2.5 years. I thought I was making some real profits, however soon my dreams got shattered when almost 5-6 of my loans got default & resulting in loss of around 9k SG. There you go my 4k profit changes into 5k loss from my own pocket. Now forget about interest or profit I couldn't able to protect my principle. So I would like to warn people to stay away from such P2P platforms as seeking higher return will only take you into losing your principle altogether. If anyone thinks I am lying I can share the screenshot proof over email to validate my statement.
    3 comments
    0

    1 more comments

    Ankit
    Ankit

    3w ago

    Had you done the due diligence, Investors wouldn't have to face the heat.Rest moreover platform like FS do not have any liabilities since out of the 4K you also deducted around 800 in your fees & commission. Weather investors loose or make money, P2P platforms will always make money. So in my opinion after associating with you guys for around 3 years I would still stick to my opinion to stay as far as away you can from such platforms.
    Yuen

    2d ago

    Stay away, their default rate is artificially low and not credible. Its not audited to my understanding.
Questions (26)

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Funding Societies

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Investments

CH
CH
Level 6. Master
Answered 2w ago
Hmm... interested to know too. will be good if the various platforms publish their default rates. i think they have to declare to MAS, but just not sure how frequent do they have to do that.
👍 0

P2P Lending

Funding Societies

CoAssets

Minterest

Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Updated 3w ago
I actually just got this email from Funding Societies... Replicated in full~! Dear Kenneth, We have been monitoring the escalation of the COVID-19 virus since January 2020. Upon its emergence in Wuhan, China, the virus has impacted many associated supply chains and has increased business volatility and risk. Our growth strategy is pivoted on SMEs and their linkages - upstream with their suppliers and downstream with their clients. Through this ongoing outbreak of the COVID-19, we have implemented the following measures to monitor and manage risks to our portfolio during this time. Credit Assessment Approach: We expect non-performing loans (NPLs) of SME-focused lenders to come under more pressure, especially due to possible increased defaults by SMEs operating in F&B, travel, cross-border trade, and service industries that are dependent on labour from affected countries in Southeast Asia. As originators, we have taken the following preventive measures: 1. Assess existing borrowers’ degree of dependency of revenue and/or other linkages on affected countries. We are also taking a reduced exposure of credit limit granted to SMEs. This is being viewed on a case by case basis. 2. Forecast of issuer’s revenue/cash flow for assessment of all new loan submissions and renewals are subjected to a haircut due to a weaker economic outlook. 3. Be agile in reacting to changes in the macro economic environment to tighten the ratios and reduce loan limits and tenor, and increase rates to adjust for increase in risk Short Term Loans: We have started further reducing the average loan tenor on a portfolio basis to mitigate mid to long term risks. For example, issuers that were previously eligible for a 12-month tenor would be provided a shorter term loan, while we assess their debt servicing capability. This allows us to rebalance our portfolio at more frequent intervals and be better placed during the indefinite duration of COVID-19 and its impact on global markets. Closely Work with Borrowers who have Large Exposures : We recognise that SMEs who have borrowed larger quantum are especially vulnerable due to their high credit exposure. In order to mitigate and control the concentration risk across your portfolio, we will either reduce limits or restructure facilities on our borrowers’ loans, on a case by case basis. Credit Monitoring and Remedial Management: We continue to monitor the performance of our portfolio and its underlying risks very closely. On top of existing risk management activities, our collections team has: 1. Inherited recovery efforts from relationship managers (who are normally the first point of collections) instead of stepping in only after 1 month. This will help us to determine early on if borrowers require a restructure in their repayment plan in order to fulfill their obligations to the platform investors 2. Been instructed to proactively restructure loans where we see early warning signs. We will continue to carefully manage our key indicators and evolve our risk management capabilities depending on the global economic situation. On top of this, Funding Societies’ employees have been split into 2 teams to work from home and at the office, on a weekly rotational basis. All employees also go through temperature checks before entering the office premises. We are committed to ensuring our employees are healthy so that our business remains of service to you through this period of volatility. If you have any questions, please contact us at [email protected](mailto:[email protected]) to receive updates. Best regards, Team Funding Societies
👍 2

SeedIn

Funding Societies

P2P Lending

Investments

I would suggest you join their events to be updated of the latest investment opportunities.
👍 0

P2P Lending

Funding Societies

Investments

Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 24 Feb 2020
You have to create an account, get yourself verified. Once done, you will see available investment from time to time. Deposit an amount that you are comfortable with. P2P lending is a high risk investment. You may choose to read every single factsheet for each opportunity then choose to invest. Or generally I think most people like me just set an auto invest rule. There is also a guarantee return investment option. Where it is guaranteed by funding societies, lower risk but lower returns as well. (About 4%)
👍 1

Investments

P2P Lending

Funding Societies

I have used Funding Society for about a year. The return has been around 10%.(Honestly, I am not sure if the return they show on the app is before or after their fees) All in all, I find that it was quite a worthwhile tool to be used as the user interface is easy to understand and they have bots that can make the investment process a lot smoother. However, due to the speculative nature of P2P, I would not recommend using it as your only way to invest (even if Funding society do offer the lowest in terms of loans - the lowest for each loan is $20). P2P is currently around 20% of my total portfolio. :) I hope it helped you!
👍 1

Investments

Promo Codes

Funding Societies

Https://fundingsocieties.com/sign-up-investor?referral=ijnf6a40 Hope the above helps I write cool stuff about personal finance and money-saving hacks here.
👍 0

Investments

Robo-Advisors

P2P Lending

OCBC RoboInvest

StashAway

AutoWealth

Funding Societies

SeedIn

ETF

MoneyOwl

Syfe

Heah Min An
Heah Min An
Level 5. Genius
Answered on 01 Jan 2020
Do you feel happy, confident of your investment selections, able to sleep soundly at night? If you’re, then continue doing it. It’s decent. Investment results are good. Investment results achieved by amount of corresponding amount of risk taken needs to be the conversation in this community. The community can’t quantify risk as easily as investment returns thus it naturally leads to an over fixation on purely returns. Risk comes from not knowing what I’m investing. Thank you for taking your time to read.
👍 2

General

P2P Lending

Funding Societies

Promo Codes

I
Is
Level 2. Rookie
Answered on 04 Jan 2020
Hi. You can sign up using my referral link: https://fundingsocieties.com/sign-up-investor?referral=jh1ocwi0 Thank you.
👍 0

Investments

P2P Lending

Funding Societies

I guess you should look at how much you are willing to risk for the return (high risk high return) aka, your risk appetite. You can try to look at the financial report of the company provided as well to understand if they are strong financially.
👍 0

SeedlyTV EP07

Investments

P2P Lending

Capital Match

CoAssets

Funding Societies

Minterest

JE
Jamie Evans
Level 2. Rookie
Answered on 02 Oct 2019
Margins are compressing due to competition. The platforms need to be innovative in terms of origination of assets (see Capital Match’s merger with procurement platform, Sesami). But ultimately, Singapore will be too small a market and overseas expansion is the only card to then play...or become a digital bank for SMEs
👍 1
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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 4 years, it has helped finance over 1.4 million business loans with over S$1.2 billion in funding. It was awarded the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, Fintech Top 100 by KPMG in 2018 and Brands for Good in 2019.

Types of investments with Funding Societies

Funding Societies provides investment opportunities into notes issued by SMEs for financing facilities such as Property-backed Secured Financing, Business Term Loans and Invoice Financing. The interest charged to the SMEs is the return on investment for the investors who co-invest into the notes through the crowdfunding platform. For certain investments such as the Property-backed one, SMEs need to provide a residential or commercial property, usually with a first charge. Also, certain investments are guaranteed for both principal and interest. 

What do you need to know as an investor?

  • Investment starts from just S$20
  • Majority of the investments are short term with a maximum tenor of 12 months 
  • Monthly repayment for most products provides liquidity and also allows investors to re-invest for a compounding effect
  • 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 and Business Term Loans
  • ‘Skin in The Game’ philosophy -  Funding Societies co-invests with the platform investors in most notes
  • Sign up through the web or download the Funding Societies mobile app to invest on the go

Risk Management for Funding Societies

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 collaterals such as residential or commercial properties owned by the issuers or guarantors are held to mitigate credit risk exposures 

Investors’ funds are handled by a 3rd party escrow agency, Vistra.

Minimum investment and fees for Funding Societies

The minimum investment for Funding Societies is S$20.

Funding Societies can be contacted via