MONEYSAVE, a peer-to-peer (P2P) crowdfunding platform registered with the Securities Commission (SC), has emerged Malaysia’s fastest P2P platform after clocking a mere 95 seconds in the crowdfunding of Potboy, a leading Malaysian online grocer.
The record was achieved with the clock started to tick from the time Potboy’s investment note was hosted online to 100% subscription.
“It only took 15 investors to fully subscribe the RM180,640.00 investment note offered by Potboy on Moneysave’s P2P crowdfunding platform on Nov 3,” Moneysave CEO Vincent Soh pointed out in a media release. “This is a testament of the speed and power of crowdfunding on our platform.”
Moneysave targets to crowdfund 40,000 SMEs the next five years, according to Soh.
In October, the SC said more than 2,500 micro, small and medium enterprises (MSMEs) have raised more than RM1 bil through the regulated crowdfunding markets of the Malaysian capital market.
For SMEs, Moneysave would be an alternative source of finance to SME loans, factoring, equity fund raising in Bursa Malaysia, private equity and venture capital.
For investors, Moneysave’s investment notes are targeted to yield between 6%-12% p.a. for short tenures of one to four months to assist SMEs with their short-term working capital.
Besides digital/online grocers, Moneysave is also eyeing to crowdfund the suppliers and contractors of Malaysian government ministries, agencies and government linked companies/public listed companies such as Telekom Malaysia Bhd, Tenaga Nasional Bhd, Sime Darby Bhd, Maybank, Petronas, Axiata Group Bhd, Maxis Bhd, Public Bank Bhd and other Top 100 Bursa Malaysia companies.
“Moneysave’s investors were attracted to Potboy being in a sunrise industry, the strong financial growth and performance of Potboy coupled with the attractive returns of 12.25% p.a. that was repayable over two monthly instalments,” revealed Soh. “Also, the margin of financing was 80% of Potboy’s purchase order value to its supplier.”
Besides the attractive yield and the short tenure of two months, risks shouldered by the investor’s are further reduced by Moneysave’s unique incentives that are accorded to Potboy for reducing their credits and business risks. – Nov 24, 2020
