App provides convenience and mobility from sign-up to investing
Singapore, 11 May 2017 – Funding Societies, Singapore’s leading digital lending platform, has announced the launch of its investor mobile app. The app offers the platform’s investors with more ease and practicality; all activities, beginning from sign-up to actual investing, can be done via smartphone anytime and anywhere. The app is available on both iOS and Android devices, in Singapore and in Malaysia.
New users can apply and sign up to become investors entirely on the app, aided by a registration process that provides seamless user experience. Should users have to stop registration midway, they can continue signing up from where they left off. The app also automates certain tasks, such as autofilling address details from postal codes for easier application.
Activated Funding Societies investors can start investing straight away using the app. Additional features, such as advance notification for upcoming loans and low balance reminders, ensure that investors will not miss an investment opportunity.
Funding Societies believes in staying ahead of the curve. It is the first platform in the region to introduce escrow accounts for funds handling and e-signatures for contract signing. Similarly, this app incorporates state-of-the-art security measures, including fingerprint login, advanced encryption, and auto-logout, to ensure the security of investor information and transmission.
“As a marketplace, Funding Societies believes in a win-win relationship for SMEs and investors. In a diversified portfolio, debt investing has proven to be an excellent investment alternative. Investors on our platform can start investing in each loan with just S$ 100 (lowest in Singapore), earning monthly repayments and good risk-adjusted returns. Our investor app will give investors greater access to this investment option,” said Kelvin Teo, Co-Founder of Funding Societies.
Funding Societies connects SMEs with investors through an online marketplace. By investing into SME loans, the platform’s investors could earn returns of up to 14% per year, higher than deposits, bonds and other traditional instruments. The investments typically have a tenor of 1 to 24 months and come with monthly repayments, enabling investors to encash sooner and re- invest.
Since its inception, Funding Societies has funded over S$ 40M SME loans across Singapore, Malaysia, and Indonesia. Funding Societies is one of the largest regional digital lending platforms and is a proud recipient of the MAS FinTech Award. The launch of Funding Societies’ investor mobile app follows the earlier release of FS Bolt, a borrower mobile app for local SMEs and currently the fastest provider of working capital loans in Singapore.
About Funding Societies
Founded in early 2015, Funding Societies Pte Ltd is a Singapore-based Fintech startup that offers a variety of digital lending services for Small and Medium-sized Enterprises (SMEs) to secure funding. It has marked many significant milestones in just 2 years, expanding to Indonesia and Malaysia, while also raising S$10 million in its Sequoia-led Series A funding round in mid 2016 and eventually winning the MAS Fintech award in the SME category in late 2016. With a long-term vision to cultivate stronger communities by helping SMEs and lenders in Southeast Asia, its services have grown to include invoice financing, short-term loans for SMEs, and alternate investment options for retail and institutional investors respectively.
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Funding Societies is Southeast Asia's leading SME digital financing platform. We specialise in all forms of short-term financing for SMEs, funded by individual and institutional investors. We pride ourselves in speed and flexibility, offering the widest range of term loan, trade finance and micro loan products. Backed by SoftBank Ventures Asia Corp and Sequoia India, amongst many others, Funding Societies has helped to finance over S$2 billion in business loans regionally. We are dedicated to the vision of enabling SMEs through equitable financial access, ultimately making a positive impact for our societies in Southeast Asia.
Funding Societies Pte. Ltd. and FS Capital Pte. Ltd. are part of the Funding Societies Brand.
Funding Societies Pte. Ltd.
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FS Capital Pte. Ltd.
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