MoolahSense Reviews and Comparison - Seedly
MoolahSense
1.3
22 reviews
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Reviews (22)
1.3
Reviews (22)
1.3
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  • Posted on 21 Aug 2019
    Thier debt recovery is horrible, when you email or open a ticket especially with regards to complaints against their recovery efforts they will not reply you. Please avoid, i have about 1.4k loss with them not recovered.
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  • Posted on 08 Aug 2019
    I invested in 224 loans over the last 2 years with Moolahsense. I am making next to nothing (4% return over 2 years for such a risky investment is a terrible return). Moolahsense's due diligence is extremely lacking. A good majority of loans in default, default upon the 1st or 2nd payment and the debtor's can't be found. Such issues clearly show that Moolahsense does not vet the debtors properly.
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  • Posted on 09 Jul 2019
    1. I invested similar amounts in both Funding Societies (FS) and Moolahsense (MS) around early 2018, as an experiment. 2. To me, MS started out as having an edge over FS due to its more intuitive, user-friendly site, and more information on the loans available. 3. Since then, Moolahsense has been lagging behind. They reacted much later to the market offering lower loan quantums (e.g. minimum $500 per loan rather than $10 vs FS), they also were behind in implementing the automatic investments. 4. With automatic investments turned on, and with similar investment criteria (e.g. min. $50, up 3 month loan only, specific sectors only etc.), I personally experienced a default rate of MS loans 4-5 times that of FS. Something like 5 of every 10 in MS compared with 1-2 per 10 in FS. 5. Close to Default and Default handling procedures - I would say FS trumps MS big time. MS basically gave me the feeling that they won't do anything extra to help investors. FS has skin in the game, and to me they seem to go the distance to ensure the success of the loans. 6. Observed the CEOs of both companies at some fintech events. The FS guys seem a lot more genuine than the MS one. Note: this is my subjective opinion. I could go on, but I think the above would perhaps would provide some perspective to help the community decide which platform to try out.
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  • Updated on 13 Jun 2019
    AVOID THIS AT ALL COST. If you want to be a millionaire using P2P platforms such as moolahsense, it's easy! Start with a billion dollars invested in them!
    1 comment
    1
    Thiagarajan Veerappa Chettiar
    Thiagarajan Veerappa Chettiar

    02 Jun 2019

    Moolahsense is the worst P2P platform you MUST avoid. The loss rate is very high and their profiling of the risk is practically NON EXISTENT. They will give you all types of numbers but of no use. I have invested in 19 notes and 2 have gone under receivership and another 3 defaulted (soon will be under receivership). The worst part is the company doesn't bother about your queries and either reply very very late or do not reply at all. God save the investors with this Company.
  • Updated on 13 Jun 2019
    I invested in 45 loans, 31 current, 5 late, 7 past due, 2 doubtful. The numbers say it all about my experience with Moolahsense so far.
    1 comment
    1
    Wong Hong Wei
    Wong Hong Wei

    10 Mar 2019

    Your numbers are terrific, you have a decent shot at breaking even. Compare to my portfolio which is running near 50% NPLs - I will consider myself extremely lucky to make a 10% loss eventually: Paid = 32 Current = 1 Past Due = 5 Doubtful = 4 Loss = 10 Closed off = 9
  • Updated on 13 Jun 2019
    I've invested in Capital Match, Funding Societies and MoolahSense for 2 years. I'm too lazy to share the details but you should AVOID MOOLAHSENSE. SO DISSAPPOINTED WITH THEM.
    1 comment
    2
    Wong Hong Wei
    Wong Hong Wei

    06 Jan 2019

    May you share more about your experience? I wrote quite a bit here: https://forums.hardwarezone.com.sg/money-mind-210/moolahsense-investing-thread-5550357.html... Read more
  • Updated on 13 Jun 2019
    I invested in nearly 50 loans in MoolahSense. Till date, nearly 25% of the loans have been classified as a loss or are late in payments. I think I would be fortunate to even get my principal back...forget about returns. I am disappointed by the follow-up from Moolahsense and the high legal cost which has to be borne by investors. In one instance, the legal cost for action against defaulter of a 100k loan was 8k, with no guarantee of any recovery. What is surprising is that I had a few cases where loan issuers who had reported hundreds of thousands of dollars of yearly profits, started missing payments and ultimately defaulted within a few months. I am not sure whether MoolahSense should have done more due-diligence to reduce this from happening. Invest with extreme caution.
    1 comment
    1
    Wong Hong Wei
    Wong Hong Wei

    27 Dec 2018

    Any updates to your Moolahsense portfolio?
  • Updated on 13 Jun 2019
    atleast 25% of the loans i have funded are either in payment delayed or stressed status for quite sometime now , there is no significant updates around the recovery and not sure if they will be defaulted soon !, pls exercise utmost caution investing through this portal , invest only minimum amount and dont be taken away by campaigns with high interest.
    3 comments
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    Rajesh Ranganathan
    Rajesh Ranganathan

    02 Sep 2018

    Adding to my earlier post , i see one of my investment has already been marked a loss, no sign of recovery i guess , worst part is investor is not informed to covey the write-off, have written a strong note but no response yet , better not venture in moolah
    Wong Hong Wei
    Wong Hong Wei

    03 Oct 2018

    11 of my notes are marked as loss. MoolahSense still refuse to take legal action on most of them. Only a few updates that the issuer promise to pay but refuse to pay...
Questions (2)

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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

Funding Societies

MoolahSense

Investments

P2P Lending

Gabriel Lee
Gabriel Lee
Level 6. Master
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.
About MoolahSense
OperationsLoan agreements in place
MethodologyBusiness term loan and Invoice financing
Fees1% on repayment
Minimum$500 per campaign (initial deposit $1,000)
Default Rate4%

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.