MoolahSense Reviews and Comparison - Seedly
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MoolahSense

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P2P Lending/MoolahSense

MoolahSense

1.3
28 reviews

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 (28)

1.3

28 Reviews

  • 5
    0
  • 4
    0
  • 3
    2
  • 2
    3
  • 1
    23

Read Review About...

default rate

invested loans

deals default

company loan

launch year

rate increase

bad experience

year number

increase shocking

platform launch

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  • Updated 19h ago

    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 2w ago

    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
  • Updated 2w ago

    Purchased

    MoolahSense

    The only investment I put was in debt. It was a 'recurring' one somemore. Only realised that many others were in similar positions and I simply stopped. Regretted so badly. Even though it was a small sum, I only recovered 50% of the funds over a course of 2 years.
    0 comments
    0
  • Updated 4w ago

    Purchased

    MoolahSense

    I wouldn't recommend this to anyone at all! It was the very first platform I tried using since graduation as a foray into investment. While I understand the high risks associated with crowdfunding, I had the belief that the staff of Moolahsense would at least do simple due diligence on the companies for them to qualify for crowdfunding. While this may have been true back when Moolahsense started, the quality of the companies have deteriorated since then. To make matters worse, you do not get the sense that the company is even doing much to help you recover your money. While they always promise to provide updates, no updates ever come and if they do, it will always be the same few generic statements. Since then I have tried Funding Societies and it is so much better. The default rate is much lower and overall at least you still walk away with a net profit. For Moolahsense, the chances of you breaking even are slim, not to mention profit.
    0 comments
    0
  • Updated on 17 Feb 2020

    Purchased

    MoolahSense

    Whelp, looks like Moolahsense can't even sustain the people who support them. My review used to be a 5-star but now I've decided to give it 2 stars. Not 1 star but 2 stars. Why? Because I'm a nice guy who's willing to give the benefit of a doubt even where it is largely undeserved. I'd like to think that Moolahsense can work - but only for a select few people. I have a friend who's thriving there - so I guess I'm not one of them. It isn't because it's not commercially viable. The way they set it up, you have to be a 10-star guru to be able to thrive in Moolahsense. Apparently, even companies that look good may not make it - and this happens way too often. Either that, or this is a scam altogether. Moolahsense places too much burden on the customers, something which you should never do. Their crisis response is weak too. They expect the customers to take on the burden of recovering defaulted assets. Their 'debt collection specialist' couldn't do jack about it, and he gave up in days. What kind of specialist is that? So what's next, the defaultees get to go free? This is not how you run a business. It's how you run a business into the ground. I might have lost some profits, but Moolahsense, the way you're going, you might as well shut down your operations and be done with it.
    0 comments
    0
Questions (2)

Recent Activity

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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
šŸ‘ 14

Funding Societies

MoolahSense

Investments

P2P Lending

Gabriel
Gabriel
Level 8. Wizard
Answered on 14 Nov 2018
You can consider using Funding Societies (FS) as they have a pretty good track record of on time repayment and low default rate. You can check out their statistics and our community's experience with FS in the link below. As for regular investments with FS, you can make use of their Auto-Invest function which allows you to choose the type of loan and amount that you would like to invest. Then when a new loan is available and matches your criteria, funds will be allocated to that loan automatically. You can also choose to opt out of it.
šŸ‘ 0

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.