Funding Societies

Funding Societies

4.1
(27)
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Ratings Breakdown (27)

4.1
  • 5
    10
  • 4
    11
  • 3
    5
  • 2
    0
  • 1
    0
OperationsFunds handled by escrow agency, Vistra
MethodologyBusiness term loan and Invoice financing
Fees18% on interest earned
Minimum$50 per campaign (initial deposit $1,000)
Default Rate1.28%
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Reviews (27)
Q&A (14)
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  • Alex Chua Cheng En
    Alex Chua Cheng En
    Level 3. Wonderkid
    Updated on 07 Feb 2019
    * Updated with links of my result , and referral code on the comments I have invested in FS for 3 months. 2 late payment. 7 completed invoice payment (on-time), 4 term loan (on-time). Add- on to Jay Liu's review (his reviews touchest almost everything): Pros: -Responsive replies and advice from the SG admins which takes about less than 3 days. Slightly longer for the FS MY as they have more investors - have a p2p lending forum to feedback and enquire any defaulted loan (users are mostly Malaysian). Good culture inside - have been improving their apps and more loans and increasing loan sums are available - loans are notified via phone notification so that you can have a quick-scan and analysis on loans' factsheet -place priority for new investors (, etc) with auto-invest - there is a priority list so that every investors could earn their bits. Interested investors could otherwise manually invest. Cons like what is stated by Jay Liu could be looked at on a different light as it shows that the evaluators are serious and prudent in the assessment of borrowers' funds Link of my 4-5 months results: https://crowdfundtalks.com/topic/725/p2p-lending-5-months-on-fs-sg
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  • Boulder Loong
    Boulder Loong
    Level 1. Freshie
    Reviewed 4w ago
    This by far the most sophisticated P2P lending platform. There are definitely things to improve but I love how detailed the fact sheet of each loan is done
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    • Damian Yeo
      Damian Yeo
      Hi do you possibly have a referral code?
      4w ago
  • Npm Adele
    Npm Adele
    Level 3. Wonderkid
    Reviewed on 21 Mar 2019
    The live Q&A is pretty prompt. Customer service is good, and there are regular loans to fund. However, the min amount has dropped to $20 and sometimes we do not get loans, I guess due to the larger number of users. The low default rate offers a greater peace of mind too!
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  • Kenny Tan
    Kenny Tan
    Level 1. Freshie
    Reviewed on 18 Mar 2019
    Have been in the investing journey with Funding Society for half a year. I have to say it have the best track record with the lowest default rate. I believe they have a stringent credit and efficient collection team. It's app function is amazing to the fact that I prefer to use its mobile app rather than the website. The only drawback is that max investment amount is low if you have a large capital to invest. It can really take a long time to fully utilize it. I hope to see better info on repayment as well as it is not very detailed and complicated to navigate. Hope the FS teams see this feedback! :)
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  • Kelvin Chin
    Kelvin Chin
    Level 2. Rookie
    Reviewed on 06 Mar 2019
    Investor since Jun 2017. Had been through more than 150 investments. Annualised performance in app shows 11.9%. Responsive customer service!
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  • Jay Liu
    Jay Liu
    Level 6. Master
    Reviewed on 05 Sep 2018
    Have invested in Funding Societies for around 3 months now. Invested in total of 10 loans. 3 invoice financing have been completed. 2 paid on time and 1 had a partial early repayment. Here are my views on Funding Societies: Pros: - Process of the account is pretty fast. Took around 1 working day for me to deposit. - Deposits of the $1000 was easy and fast. Took around 2 working days. - Withdrawal was also fast. Took around 2 working days to be in my bank account. - App feature on phone is easy to navigate. Plain and simple. - Factsheets are detailed. - Having good annualized portfolio performance. Cons: - Loans opportunities are pretty low. (This is positive actually as this mean FS screen the borrowers thoroughly, lower defaults). - Having a min and max amount to invest. - A riskier alternative investment. - Loans get filled up quickly. So have to camp few mins before the start time as i manual invest.
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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.

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$1,000. The minimum investment for each campaign is S$50.