MONEYSAVE CROWDFUNDS RM190 MLN IN PAST 18 MONTHS
KUALA LUMPUR, Nov 24 -- Moneysave (M) Sdn Bhd has crowdfunded over RM190 million as of Nov 19, 2021, with over 800 investment campaigns in the past 18 months since going live in May 2020.
Founder and chief executive officer Vincent Soh said the peer-to-peer (P2P) financing platform is also proud to manage a zero per cent default rate across all approved investments.
“This makes Moneysave to be the fastest and best performing P2P crowdfunding platform that is regulated by the Securities Commission Malaysia,” he said in a statement today.
Moneysave added that its investment platform directly benefits Malaysian small and medium enterprises (SMEs) as it provides working capital and project financing from various industries such as aerospace engineering, food manufacturing and distribution, and agriculture technology.
“We have benefited a supply chain of over 5,000 SMEs, with more than 50 per cent of them being crowdfunded in less than 30 minutes and receiving the investments within the same day,” he said.
According to the statement, Moneysave is the first crowdfunding platform in the world to use a patented Risk Reduction Incentive Score where SMEs enjoy a lower cost of financing if they lower their credit risks.
The company said it targets to benefit over 100,000 SMEs over the next five years and enrich a million families.
-- BERNAMA
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