Funding Societies Reviews and Comparison - Seedly
 

Funding Societies

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  • Reviews (77)
  • Questions (19)
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P2P Lending/Funding Societies
P2P Lending/Funding Societies
Funding Societies
4.3
77 reviews

USER RATINGS

User Experience

4.7

Portfolio Transparency

4.4

Customer Support

4.7

Quantity of Deals

4.1

Quality of Deals

4.2
P2P Lending/Funding Societies
Funding Societies
4.3
77 reviews

USER RATINGS

Read reviews

User Experience

4.7

Portfolio Transparency

4.4

Customer Support

4.7

Quantity of Deals

4.1

Quality of Deals

4.2

Funding Societies

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

    Funding Societies

    18% on interest earned
    INVESTOR FEES
    $20/campaign ($500 initial deposit)
    MINIMUM INVESTMENT
    1.20%
    DEFAULT RATE (2019 Q2)
Reviews (77)

4.3

77 Reviews

  • 5
    38
  • 4
    30
  • 3
    6
  • 2
    2
  • 1
    1

Read Review About...

default rate

user friendly

opportunities invest

customer service

mobile app

customer support

platform great

loans invest

not invest

app easy

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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
  • Posted 9h ago

    Purchased

    Funding Societies

    [Lending Experience] Joined the FS platform in November as recommended by a colleague. Surprise to see that the signup verification was relatively fast. Deposit is not as straightforward as you must submit proof of deposit manually via a screenshot. Investment opportunities are plenty, roughly 1 or 2 openings every day. Notifications are excellent through emails and apps push notification. Investment opening tend to get snapped up within 10 minutes and so inbuild autobot (automatic investment) is good to have. I would recommend FS if you are willing to go through the initial signup, manual deposit and setting up autobot to your likings. It might be worth your initial effort if you are planning to invest large sum of money and over a long timeframe. FS could improve by automating deposit (like xfers), integrating MyInfo in the signup process, allows 2FA via Google Authenticator and improving the slightly confusing web interface (mobile app is good).
    0 comments
    0
  • Posted 22h ago

    Purchased

    Funding Societies

    [Lending Experience] I have been using this app for a few months now and I really enjoy using it! It has good, simple customer user interface which is a breeze to set up an account, top up and start investing. Another feature worth mentioning is the autobot set up for investing, it’s an awesome function as the system will allocate for you and start to opt-in for deals. It is also easy to monitor portfolio and payments via the icon tabs, looking forward to future enhancements. [Risk Assessment] Detailed factsheet materials provided for own’s self assessment prior to investing. Any doubts you can send a chat message. [Customer Support] I look forward when there are new deals announced via app and email notification. The level of responsiveness from funding societies is so efficient as they have a chatbot via the app and even after working hours you can use it and leave your message and receive a reply the next day, replies are often quick and resolves your doubts. Funding societies also organize monthly investors session to meet at their office to understand more about the product and company and for them to address any doubts, this is good for beginners who are intending to invest.
    0 comments
    0
  • Posted 23h ago

    Purchased

    Funding Societies

    Good financial products that provides exposure to private investment opportunities which retail investors have little access to
    0 comments
    0
  • Posted 1d ago

    Purchased

    Funding Societies

    I exceptionally love the customer support whereby very prompt and helpful responses are given! Although, I'd wish for more learning support for beginners and more projects on sustainability :)
    0 comments
    0
Questions (19)

Recent Activity

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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.

General

P2P Lending

Funding Societies

Promo Codes

TY
Trisha Yeong
Level 2. Rookie
Answered 3w ago
You can use "FINTECH20" until 31st December 2019 with condition of total S$500 investment for S$20 cash back.

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

Investments

Funding Societies

P2P Lending

Kenny Tan
Kenny Tan
Level 3. Wonderkid
Answered on 14 Jul 2019
What i am very sure is that funding societies is not 0% default rate. I have invested over 150 campaigns with them. currently I have 7 loans defaulted, and no regular update from funding societies on how they are recovering the funds. FYI, my portfolio is in red.

SeedlyTV EP07

Investments

P2P Lending

Minterest

CoAssets

Capital Match

Funding Societies

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 5. Genius
Updated on 20 Jul 2019
Here are my 2-cents thoughts. As much as p2p is a tech driven fintech, it is still a service industry nevertheless. To me, whatever technology features such as auto-invest will soon be commonly used by the platforms. Without them, they will lose an edge. So you could start by asking yourself what would you like to have as an investor or a borrower. For a borrower, would be probably necessary financial advice so that they will get sufficient funds. Etc. For an investor, you want as lower risk loan as possible. Is there a sufficient supply of loans? Which platform provides a better investing experience? the extensiveness of platform providing the loans. How receptive are the platform to feedback and their responsiveness in changes? Having a good customer base, along with a good support team could improve your rewards and user experience. Furthermore, having 0% default rate is ideal. However, is your funds put into desirable rewards investment? This also questions the response of the platform in a situation of defaults. In choosing the platform, ask yourself what gives you a better piece of mind. Is it within your risk-reward? Which loan product do you prefer? (there is some difference in loans offered among the platform) what is your ability? (your fund size and risk tolerance ). You should also filter the reviews and forums of the platform. Remember this is a service industry. In my opinion, a good service, or user experience should be the main factors in choosing the platform. A good service attracts more borrowers and in turn attracts more investors. A good service is what drives the platform to innovate and constant improve themselves. Do your due diligence. Feel free to Facebook msg me if you have any queries.

P2P Lending

Funding Societies

CoAssets

MoolahSense

Capital Match

Minterest

SeedIn

Cassandra Tho
Cassandra Tho
Level 5. Genius
Updated on 18 Apr 2019
I'm Cassandra, the community specialist from CoAssets. Allow me to give you the objective view of my findings. All calculations except for Capital Match are according to MAS's standards. Rate of returns per annum in 2018, ranked according to weighted average returns) 1. Minterest: 3.5-24% (Weighted ave: 12.95%) 2. CoAssets: 9-10% (Weighted Ave: 9.91%) 3. Moolahsense 5.90%-16.82% (Weighted Ave: 9.9%) 4. Funding Societies: 6.51-17.79% (Weighted Ave: 9.32%) 5. SeedIn: 7-20% (Weighted Ave: 8.33%) 6. Capital Match: 15-20% APR (Weighted Ave: unknown) Default rates (measured as non-performing loan rate beyond 30days) in 2018, ranked in descending order 1. Moolahsense: 14.82% 2. Minterest: 0.59% 3. Funding Societies: 0.47% 4. SeedIn: 0.32% 5. Capital Match: 0.20% 6. CoAssets: 0.00% Note that stats are according to internal standards and not MAS's criteria. Even after 90 days, Capital Match does not classify it as a default, unless the company is in the windup, has undergoing lawsuits, or the director(s) declare bankruptcy. Furthermore, Capital Match does not have an updated statistic based on 2018; thus this internally calculated rate is for 2017. In summary, the services these platforms provide are similar. All these platforms provide opportunities for retail investors to invest in a variety of projects. The difference is that CoAssets is the only listed online funding platform which means that they're obliged to give transparent performance updates twice a year. Their rate of returns, default rates and profits are under the scrutiny of the Australian exchange and the public, bare for all to see. As for the rest, the data provided above was based on the information provided on their website. Another factor to consider is hidden costs like service fees or surcharges within the rate of returns. For CoAssets specifically, the investors get the full interest back. For others, for example, the interest rate may be 20% but they may charge a 1% service fee resulting in an actual return of 19% only. I'm open to discussing any of the mentioned points should someone else's findings be different. I hope this helps. References: MAS guidelines: http://www.mas.gov.sg//media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Securities%20Futures%20and%20Fund%20Management/Regulations%20Guidance%20and%20Licensing/Circulars/CMI%2027%202018%20Controls%20and%20Disclosures%20to%20be%20Implemented%20by%20Licensed%20Securities%20Based%20Crowdfunding%20Operators.pdf Moolahsense: https://www.moolahsense.com/statistics/ Minterest: https://www.minterest.sg/statistics Funding Societies:https://fundingsocieties.com/ SeedIn: https://sg.seedin.tech/statistics CoAssets: https://coassets.com/asx/about/ Capital Match: https://lending.capital-match.com/statistics.html

Funding Societies

P2P Lending

Investments

SeedlyTV EP07

Jacky Yap
Jacky Yap
Level 5. Genius
Updated on 07 Jun 2019
hello! Yes i think it is ok. p2p lending is run by experienced team who will screen all the loans before they take them in and open the loans to public investors. im not in the p2p business but i think this is the process: 1) loan application by SME from P2P 2) P2P platform screens, does audit of the SME's business and determines risk and suitability + loan quantum 3) If business is sound, P2P approves the loan, if it is a bad business, P2P platform wont approve 4) Once loan approved, P2P platform publishes the loan and avails it for investment by public investor 5) public investor can take a look at the summary of the SME, the risk assessment and decides if he wants to invest in the SME's loan. So you can choose which business loan you want to back. And you can choose the amount. It is also in P2P platform's interest to ensure that the default rate is very low so that investors will continue to invest, because a bad apple will really break investor's confidence in the P2P platform. Funding society's default rate is <2% overall so is actually not that bad. For me, ive been on Funding society for almost 1 year now, no defaults so far. Returns should be around 7-9% after deducting the fees by funding societies. Overall experience is not bad, would personally recommend it for investors with medium to high risk profile. :)

Singapore Saving Bonds (SSB)

Funding Societies

P2P Lending

Investments

Alex Chua Cheng En
Alex Chua Cheng En
Level 5. Genius
Updated on 08 Apr 2019
Everyone have their own definition of good. The most important thing is to do your due diligence to understand the platform to reduce risk. You should be asking if you are comfortable with the risk. SSB is lending money to government VS p2p lending, FS, is lending money to SMEs (mostly). I would personally say the management team of FS is good and they r responsive and responsible with the updates of late repayment. From the late repayment, you can learn the nature of the business and the borrower. If u r uncomfortable with the borrower, opt out of their company next time. I would encourage to try out and understand it. FS minimum deposit is $500 with each campaign mostly min. Of $20, default rate of 0.91%, lesser in SG. U can have a maximum Diversification of 25 campaigns. Let your overall interest rate is 10% p. A . Each campaign u earn $2. 25 campaigns u earn $50 profit (interest). U could risk at most 2-3defaults of campaigns to break even from your campaigns (edited) you can go crowdfundtalks.com (FS forum). You could see some results by some kind investors. Most people there are Malaysians. Friendly people like seedly people :) If you r comfortable with risk, the question to u is Y not?
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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.