MoolahSense P2P Lending Reviews and Comparison - Seedly
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MoolahSense P2P Lending

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  • Reviews (33)
  • Questions (0)
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P2P Lending/MoolahSense P2P Lending
P2P Lending/MoolahSense P2P Lending
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USER RATINGS

User Experience

3.3

Portfolio Transparency

1.6

Customer Support

1.6

Quantity of Deals

1.9

Quality of Deals

1.0

MoolahSense P2P Lending

1% on all repayments

INVESTOR FEES

$100 per campaign ($1000 initial deposit)

MINIMUM INVESTMENT

13.64%

DEFAULT RATE (2019)

MoolahSense P2P Lending

1% on all repayments

INVESTOR FEES

$100 per campaign ($1000 initial deposit)

MINIMUM INVESTMENT

13.64%

DEFAULT RATE (2019)

Details

MoolahSense Review 2021

MoolahSense is a digital, crowdfunding platform which connects businesses and investors looking to invest in Singapore SMEs. The platform is regulated by the Monetary Authority of Singapore (MAS) and they have been issued with a Capital Markets Services License on 11 November 2016.

Read More about MoolahSense P2P Lending
Reviews (33)

1.2

33 Reviews

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    28

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    Most HelpfulMost RecentLow to HighHigh to Low
      Updated 1w ago

      Purchased

      MoolahSense P2P Lending

      [Lending Experience] [Debt Recovery] [Customer Support] Not the type to post reviews but felt like I should to warn people of how dangerous Moolahsense is. Platform is easy to use but that is the only good thing about them. Had invested in a real estate training centre with Moolahsense and as you can see from the other bad reviews, it defaulted. What was disappointing is that just because the borrower hired a lawyer to reject the loan contract, it scared Moolahsense and now the borrower can run away freely without paying. I mean, what's the point of making a contract in the first place if it does not even have any power?! Mind you, the borrower's company is still operating happily to this day with no cash flow problems. Yes, Moolahsense did state they can proceed with legal proceedings but the costs were at least 5 times higher than other platforms. Like where did you even hire these lawyers from? Heaven? I assume this is to scare us investors from proceeding with legal options as Moolahsense do not gain anything. So even though it was expensive, I still opted for it and guess what, no response from Moolahsense. As expected. So I emailed them only asking about the progress and they replied saying that due to there not being enough funding for legal proceedings, the investment has been closed AKA the borrower gets free money without paying it back. So yes, with this being said, avoid like a plague. This is really a disappointment as they were my first P2P lending platform and I had high hopes for it.

      0

      Post
      Updated on 09 Dec 2020

      Purchased

      MoolahSense P2P Lending

      Similar to all recent experiences. I've lost more than $5K. I've invested in a bunch of their companies since 2016. But super high default rate and now they don't even provide regular updates by mail. You have to log into the site and a lot of the recent issues are 'closed off' due to bankruptcy or some other excuses. Do not invest in this platform.

      0

      Post
      Updated on 19 Nov 2020

      Purchased

      MoolahSense P2P Lending

      Amazing. Those dudes do not answer any phone calls, do not reply to any support messages and they made everything to be unreachable. As a result i cannot take any money out of my account. All lost. As my bank account is closed and wanted to update to the new one but that is not possible. Lodging a police report against the directors and the company...

      2

      Liu

      24 Nov 2020

      Any outcome? i have some funds with them also. :( their website seems to be down

      George

      24 Nov 2020

      No Liu, nothing, i left a voice message to them at the SME line (the only accepting voice msgs) but no reply again. They are totally uncontactable. I lost all my funds and i cannot withdraw now that my old bank account is closed. Someone needs to go to their offices and if nobody there make a police report
      Post
      Updated on 01 Aug 2020

      Purchased

      MoolahSense P2P Lending

      Invested in 3 p2p platforms over 2 yrs. Moolah, is the worst. Infact. They dont even deserve 1 star. With the huge numbers of deal that defaulted, i wonder if they ever bother to check on these borrowers financials, or if they simply approve any deals that come their way.

      0

      Post
      Updated on 24 May 2020

      Purchased

      MoolahSense P2P Lending

      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

      Post
    Questions (0)
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      About MoolahSense

      MoolahSense was started in 2014 by the ex-Vice President of Macquarie Capital, Lawrence Yong.

      As of February 2019, the platform has more than 15,000 registered investors, completed more than 800 campaigns, and raised a total of S$75.38 million in funding.

      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.

      Contact MoolahSense

      Tel: +65 6871 8780

      License

      Capital Market Services License (CMS-100568-1) from the Monetary Authority of Singapore