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MoolahSense P2P Lending

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Summary

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.

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Summary

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.

MoolahSense P2P Lending

1% on all repayments
INVESTOR FEES
$100 per campaign ($1000 initial deposit)
MINIMUM INVESTMENT
0%
DEFAULT RATE (2020)

MoolahSense P2P Lending

1% on all repayments

INVESTOR FEES

$100 per campaign ($1000 initial deposit)

MINIMUM INVESTMENT

0%

DEFAULT RATE (2020)

Reviews (34)

1.2

34 Reviews

5
0
4
0
3
2
2
3
1
29

Service Rating

User Experience

3.3

Portfolio Transparency

1.6

Customer Support

1.6

Quantity of Deals

1.8

Quality of Deals

1.0

      27 Mar 2018

      Been using since 2016 Pros: - Has auto investing feature - Company and loan details are very detailed - Low minimum required, $100 - Loans come in many flavours, such as callable, monthly equal installments, bullet etc Cons: - Not as user friendly as other platforms. Might be daunting to new P2P investors. - Many types of loans and interest payments schedules, requires a learning curve for newbies. - Few cases of defaults, and the update frequency is not as regular

      0

      What are your thoughts?

      12 Jan 2018

      Dated interface, lesser loans available, reporting/update really slow.

      0

      What are your thoughts?

      17 Feb 2020

      Purchased

      MoolahSense P2P Lending

      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.

      1

      What are your thoughts?

      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. <- Agreed. Doesn't seem like they're doing anything in 2021 anyway

    • 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

      What are your thoughts?

      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...

      View 2 other comments

      21 Mar 2019

      Took months for my application to be approved. It was my second application that got approved. Never tried using it thereafter as there were no ongoing loans, and the reviews online were not very positive.

      0

      What are your thoughts?

      Posted 25 Apr 2022

      Purchased

      MoolahSense P2P Lending

      MS really should just fire all its human auditor and require the borrower to submit documents via blockchain where the information submitted , can be verified by everyone . If you like to donate money or lose money , you are welcome to park money here as even putting your money in bank will yield better returns than putting money here .

      0

      What are your thoughts?

      05 Feb 2021

      Purchased

      MoolahSense P2P Lending

      [Debt Recovery] [Lending Experience] Thought I could at least breakeven after a slew of defaults in 2019 where I was only borderline 4 digits in the red. I continued with auto invest set at $100. Covid-19 was the straw that broke the already broken camel's back & I'm now closer to $3k down.. I've contacted them and they tried to reassure me by saying "The "Closed off" status is only a representation to the status of the Note. A closed off note does not mean that active recovery have ceased until an official update has been published on the note's update." Hoping for the best! In Funding 0 Paid 80 Current 0 Late 0 Past Due 2 Doubtful 0 Loss 2 Restructured 2 Closed Off 38 One-Time Sett 1

      0

      What are your thoughts?

      14 Jan 2021

      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.

      3

      What are your thoughts?

      Pse email me at aol.com - terence_tan. I have some information about the real estate training company.

      View 3 other comments

      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

      What are your thoughts?

      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...

      3

      What are your thoughts?

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

      View 2 other comments

    Discussions (0)

      No Posts Found.

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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

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.