MoolahSense Reviews and Comparison - Seedly
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MoolahSense

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  • Reviews (29)
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MoolahSense

1% on all repayments
INVESTOR FEES
$100 per campaign ($1000 initial deposit)
MINIMUM INVESTMENT
13.64%
DEFAULT RATE (2019 Q2)

    MoolahSense

    1% on all repayments
    INVESTOR FEES
    $100 per campaign ($1000 initial deposit)
    MINIMUM INVESTMENT
    13.64%
    DEFAULT RATE (2019 Q2)
Reviews (29)

1.2

29 Reviews

  • 5
    0
  • 4
    0
  • 3
    2
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    24

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  • Updated on 24 May 2020

    Purchased

    MoolahSense

    Been with them since their first deal with the Seoul yummy, the default rate is so bad, I think I stand a higher chance of taking it to the casino table.
    0 comments
    0
  • Updated on 09 May 2020
    Probably stuffed with analysts with just psle cert... ought to improve on how they do their due diligence [Debt Recovery] Poor experience on debt recovery, don't think they have recovered any of the stuff I invested in. [Portfolio Diversification] DYOD, it is really a high-risk platform and I think the returns do not justify the risk. [Risk Assessment] Poor. [Customer Support] Passive-aggressive in saving their own name despite how bad their platform is.
    0 comments
    2
  • Been using since 2015, The company, description of the loan's and company's financials are detailed. Out of the 11 I have invested, I have experienced 3 defaults. When it comes to defaults, the frequency of the updates is not regular and the resolution of it not very fast. Till now the 3 defaults, are still in default with no final outcome. In my opinion, the current batches of loans seems to have a higher chance of default (2 of my defaults were from loans which were issued in 2017. Prior to that, I feel Moolahsense's "credit writing" of loans in 2015 and 2016 were much better. Perhaps MS has to do more QC of its P2P loans- less quantity of P2P loan but of higher quality? Update as of May 2020 No longer using Moolahsense. This is because what I have come to realise is the default resolution takes very very long and because the lenders in Moolahsesne has to bear hefty legal cost to claim defaults My first experience was with a well known local Indian Entrepreneur then who had defaulted. It took a while and the group of lenders needed to hire a lawyer which took up funds. The second was an engineering company who is sill struggling to repay its loans despite it being 2+ years. All in all, with the current Covid crisis, more and more of such company loans under MS is now in default. Not advisable to undertake P2P loans while the returns are high, the risk outweighs it
    3 comments
    1

    1 more comments

    Choon Yuan Chan
    Choon Yuan Chan

    06 Oct 2018

    Quick update the last P2P loan I have with Moolahsense did not pay back their full interest too. Moolahsense did a settlement with them and I was only able to cover my principle and a little interest, got back less than 1% return. So it makes it 4 default out of 12.
    Wai Kuan

    11 Jun 2020

    Hi Choon Yuan Chan, May I ask if "The second was an engineering company who is still struggling to repay its loans despite it being 2+ years." refers to BTech Engineering?
  • Updated on 30 Mar 2020

    Purchased

    MoolahSense

    Started when the platform first launch, it was doing okay for the first year, but when the number of deals got more and more the default rate increase at a shocking rate too. Currently have 25% deals closed off, quite a bad experience, will not recommend.
    0 comments
    0
  • Updated on 16 Mar 2020

    Purchased

    MoolahSense

    Current loss of about $2-3k out of $29k capital put in. Bad investment. Good lesson on the dangers of C2B lending.
    0 comments
    0
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About MoolahSense

MoolahSense started in year 2014 by Ex Vice President of Macquarie Capital, Lawrence Yong.

Types of loans by MoolahSense

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

Risk Management for MoolahSense

MoolahSense access lenders based on the nature and outlook of the industry they operate in, the strength of their financials and overall business model as well as the background and character of its Directors.

Funds for MoolahSense are held separately with OCBC.

Minimum investment and fees for MoolahSense

The minimum investment for Funding Societies is at S$1,000. The minimum investment for each campaign is S$100.