Funding Societies Reviews and Comparison - Seedly
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Funding Societies

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  • Reviews (285)
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P2P Lending/Funding Societies
P2P Lending/Funding Societies
4.0
285 reviews
claimed

Claimed

This product is managed by Funding Societies.

USER RATINGS

User Experience

4.4

Portfolio Transparency

4.0

Customer Support

4.3

Quantity of Deals

3.7

Quality of Deals

3.7

Funding Societies

18% on interest earned

INVESTOR FEES

$20 per campaign ($100 initial deposit)

MINIMUM INVESTMENT

1.89%

DEFAULT RATE (2019)

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

Funding Societies

18% on interest earned

INVESTOR FEES

$20 per campaign ($100 initial deposit)

MINIMUM INVESTMENT

1.89%

DEFAULT RATE (2019)

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

Details

Funding Societies Review 2020

  • Funding Societies is a peer to peer lending platform in Singapore that specialises in short-term financing for SME through crowdfunding.
  • Investors can get up to 9.82% of returns as calculated by Funding Societies in 2019
  • Investment starts from just S$20
  • Majority of Funding Societies' investments are short-term with a maximum tenor of 12 months 
  • Interest rates are typically between 4% - 8% per annum for the guaranteed
  • For those seeking a loan, there are different financing options from Micro, and Term to Invoice financing.
  • For Investors, choose from a variety of loans you'd like to help finance from guaranteed returns investments to revolving credit.
  • Default Rate: 1.89%
  • Funding Societies scores a 4 out of 5 stars on SeedlyReviews
Read More about Funding Societies
Reviews (285)

4.0

285 Reviews

  • 5
    128
  • 4
    101
  • 3
    18
  • 2
    7
  • 1
    31

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Pinned by Funding Societies

  • Updated on 23 Aug 2020

    Purchased

    Funding Societies

    [User Friendliness] The app has a clean and easy to use UI which is a plus Overall, Funding Societies offer good deals such Property backed Investments which lowers the risk for small average investors like us,showing FactSheets before we make a decision in putting into deals and easy tracking of repayments over a loan period. Will definitely recommend others to us it.
    0 comments
    2
    Post
  • Updated 19h ago

    Purchased

    Funding Societies

    I am a new user of funding societies of just 2 months. It has been a fuss free experience so far from setting up a new account to depositing new funds and making investments via the app. This app allows users to invest with a small amount of $20. The interest earned is much higher than the bank interest rate. However, users have to assess the risk involved and remember that there is a default rate of <2%.
    0 comments
    0
    Post
  • Updated 20h ago

    Purchased

    Funding Societies

    i have been with funding societies for some years now. over the years, they have not only expanded their product range to suit different investor needs, they have also improved their platform access and user friendliness. i particularly like the automated investment algorithm where i can choose the type of investments i like and the range of yields acceptable and the system will help me invest where my preferences can be met. it is also good to be on the accredited investor list as it will open up a broader range of investment options. good customer feedback and resolution of issues or questions. keep it up!
    0 comments
    0
    Post
  • Updated 21h ago

    Purchased

    Funding Societies

    Funding Society is an interesting platform for users to get exposure to business loans. The auto-invest feature made it relatively fuss-free for users once they had set the criteria for their investments. The flexible loan sizes is useful for users who are allocating a smaller sum of money for business loans and want to avoid concentration risk at the same time; e.g. 50 loans can be made by starting with $1,000.
    0 comments
    0
    Post
  • Updated 22h ago

    Purchased

    Funding Societies

    [Customer Support] [User Friendliness] Funding Societies (FS) has been very simple to use on its UI and is a great way to have another investment channel in my life. The Customer Support has been very responsive and reliable. For instance, I recently got mixed up with another very similar loan deal and made a mistake and invested in this loan deal that I did not intend to, and received very responsive help through its Chat function. Unlike other organisations that provide "robotic" replies, I believe its Chat function is an actual customer service support person assisting you with your query. I approached the Chat function immediately when I realised my mistake (couple of minutes after confirming the investment) and they were very understanding and helped to reset the investment submission. Eventually, I was able to submit investment to the correct deal I intended to. I'm really glad to have found Funding Societies, and amidst this "testing" months I have tried, it has been very smooth so far and I plan to load up cash next year and power up my account. Also, not to forget it has very fast and hassle free Deposit and Withdrawal processes!
    0 comments
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Funding Societies 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 Lending Work at Funding Societies?

Peer to peer lending allows investors to lend money directly to other individuals via a P2P platform. It works differently from bank loans as it removes the hefty middleman. For P2P, Investors have the choice of selecting which type of loans they prefer to fund.

At Funding Societies, the loans can be crowdfunded from various investors. Which is why it is possible for the minimum investment rate to start from as low as $20.

To assure credibility, thorough checks are made on the enterprises that request for financing before they are eligible for any business loans.

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

Types of Investments with Funding Societies

  • Guaranteed Property-backed Investments
  • Guaranteed Returns Investment
  • Property-backed Secured Investment
  • Invoice Financing Investment
  • Revolving Credit Investment
  • Business Team Investment

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

Funding Societies provides investment opportunities into notes issued by SMEs for financing facilities such as Property-backed Secured Financing, Business Term Financing 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 have guaranteed repayments for both the principal and interests.

What do you need to know as a P2P Investor?

  • Funding Societies' minimum 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
  • Individual Singaporean investors can enjoy tax exemption for their interest returns 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 our investors peace of mind.
  • Sign up through the web or download the Funding Societies mobile app to invest on the go

Types of P2P Loans available

Here are some crowdfunded business loans available for SME in Singapore:

1. Micro Financing

Fast loans with approval within 24 hours¹. Suitable for small businesses that need urgent financing.

2. Term Financing

Funds tailored for working capital, business expansion, and more. Larger financing amounts available.

3. Invoice Financing

Convert your invoices into cash immediately.

Fees for Funding Societies

The minimum investment for Funding Societies is S$20.

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

  • Live Chat on their website, or via Email
  • Phone: 6221 0958