Funding Societies Reviews and Comparison - Seedly
 

Funding Societies

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  • Reviews (93)
  • Questions (24)
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P2P Lending/Funding Societies
P2P Lending/Funding Societies

Funding Societies

4.3
93 reviews

USER RATINGS

User Experience

4.6

Portfolio Transparency

4.3

Customer Support

4.6

Quantity of Deals

4.0

Quality of Deals

4.1
P2P Lending/Funding Societies

Funding Societies

4.3
93 reviews

USER RATINGS

Read reviews

User Experience

4.6

Portfolio Transparency

4.3

Customer Support

4.6

Quantity of Deals

4.0

Quality of Deals

4.1

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 (93)

4.3

93 Reviews

  • 5
    44
  • 4
    36
  • 3
    9
  • 2
    2
  • 1
    2

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default rate

user friendly

customer support

opportunities invest

mobile app

customer service

loan time

lending experience

user friendliness

fund invest

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  • Updated on 27 Mar 2018
    One of the only platforms with a mobile app. Fast and clean interface. Customer support directly available via the app. Crowdfunding closes out in a very quickly and you might miss out. Auto-investment function helps to a certain extent. Low learning curve for p2p lending is suitable for new investors.
    0 comments
    0
  • Updated 2w ago

    Purchased

    Funding Societies

    So sad, just started to invest and I already have some defaulting... Can Funding Society provide more information presented in a more readable format, on the financial strength of the businesses before we invest? The text in the PDF document is a little small and I am not sure what I am reading, because some of it refers to the person taking the loan, and the rest shows the businesses. Both seemed ok and then they defaulted. Is the information reliable even?
    0 comments
    0
  • Updated 2w ago

    Purchased

    Funding Societies

    Great user friendly app and everything is clear and straightforward to use. Not as intimidating as I thought it would be even for a newbie!
    0 comments
    0
  • Updated 3w ago

    Purchased

    Funding Societies

    Very user friendly interface. Almost idiot proof. If the auto-bot is setup, it is something of passive income/investment. (provided you have enough funds to add into the loans year round, I estimate around 4-10k is enough to loan most of the deals all year round. Depends on your loan amount also) Rate of default is very low right now and probably will continue to be, unless there is a massive recession? Apart from the inherent risk. (of which everyone should be aware of). A massive thumbs up!
    0 comments
    0
  • Updated 3w ago

    Purchased

    Funding Societies

    [Lending Experience] Due to tax on interest returns, steep competitions from other P2P providers and further worsening operating conditions in our Credit Market. I'll advise all to steer clear of P2P lending likewise high yield corporate bond to avoid disaster. Average Annual Yield at 9.82% with astonishingly high default rate of 1.82% at the moment. (Your returns will be taxed 18% on top of this declining performance) There had been many GRI (Guranteed Return) loans for nearly about 6 months now from FS and this is meant to illustrate to you that the risk is not being controlled well instead if skyrocketed and eat up on both your bottom line and top line (Risk goes way up and return goes way down). Last straw that broke the camel's back. Some 39YO Coal/Logistic Co. decided to call Moratorium and default on 2K debt on 4 of my coupons. Literally listed as having STRONG credit LOWEST default risk. The 4 coupon was meant to pay only a low interest rate, yet now the company is not even paying investors even 1 cent on the 2k owed to me (Add up a few Millions including what others have all chipping in to loan). These kind of *safe* loans are infact becoming some of the worse nightmares, not paying a single cent back and asking you to take 100% FULL CAPITAL LOSSES. 2 other coupons with different cos. at $100 each have also bankrupted. Let me explain the decline in Credit in further detail. Eg. your GRI fails and returned you only capital. Your GRI would have generated investment losses due to inflation, the GRI interest rate is only slightly higher than banks (after 18% svc charges). The co. will have your money defaulted anyways if the entire co. closed down on bankruptcy event. Based on the above computations, the companies and the platform has been getting away with bad debts and profits at the investor's demise. So I'm got to say bye.
    0 comments
    0
Questions (24)

Recent Activity

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SeedIn

Funding Societies

P2P Lending

Funding Societies' customer here I am seeing about 3-5 investment opportunities on average every week on FS

P2P Lending

Funding Societies

Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered 21h ago
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%)

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!

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.

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.

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.

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.

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

Funding Societies

Investments

Loans

P2P Lending

Promo Codes

Yingying Li
Yingying Li
Level 2. Rookie
Updated on 07 Jun 2019
Hey there! This is Yingying from Funding Societies. Unfortunately we have regulatory constraints to openly share referral codes :( Do still sign up with Funding Societies though! We have promotions which are exclusive to our investors on a regular basis.

SeedlyTV EP07

Funding Societies

P2P Lending

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 5. Genius
Answered on 20 Jul 2019
Here are some of my thoughts : 1.your minimum sum invested is too small. You can set a higher amount. Or you can try your luck when the loans are listed to put in more. 2 recently, most loans listed are small with maximum of $20-50. Remember you are not the only investors. 3. There is simply too little supply of loans requested by borrowers. You can help recommend your business partners if they need debt financing. So more supply of loans is issued 4. There is a consolidation of loans in views of unfortunate spike in defaults in Q2 2019 faced by p2p and banks 5. There may be a lot of rejection towards borrowers by the platform itself because some borrowers simply have poor cash management. I would like to thank funding societies for the due diligence. Dear borrowers, please help yourself first (understand your business and financial health) before seeking help from others. P. S I am shock to see that u have invested 23k into funding societies alone. Such a large sum. How I wish I have such an amount. I can do a lot of things with it. Lol Advice :maybe it is time to divest and spread your risk. Look into other platforms not just locally but also globally. You could fb msg me for advice or you can go to crowdfundtalks.com to seek advice
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About Funding Societies

Funding Societies is started in year 2017 by ex management consultant Kelvin Teo and ex leading executive, Reynold Wijaya.

Funding Societies is the largest SME digital financing platform in Southeast Asia, licensed and operating in Singapore, Indonesia, and Malaysia. It enables SMEs to get all forms of short-term unsecured financing, crowdfunded by retail, high-net-worth and institutional investors. As a winner of the MAS FinTech Award, it provides fast and customized financing options for SMEs across all sizes and industries. Backed by the prominent Sequoia Capital and Softbank Ventures, Funding Societies has given out S$1 billion loans to 30,000 SMEs and is on a mission to create financial opportunities for everyone in Southeast Asia.

Types of loans by Funding Societies

Funding Societies gives out loans in form of Business Term Loans and Invoice Financing.

Risk Management for Funding Societies

Funding Societies access lenders based on an FS Scoring Grade which is a rating of opinion on both the business' and their owners' capacity and willingness to repay loan.

Funds for Funding Societies are handled by escrow agency, Vistra.

Minimum investment and fees for Funding Societies

The minimum investment for Funding Societies is at S$500. The minimum investment for each campaign is S$20.