Fundaztic.com aims to raise RM40 million in first year

KUALA LUMPUR: Fundaztic. com, a peer-to-peer ( P2P) lending platform in Malaysia, aims to attract investors attention to crowdfund RM40 million within the first year of its operations and to use that funds to invest in 500 micro and small and medium enterprises (SMEs).

Peoplender Sdn Bhd chief executive officer Kristine Ng said by the fifth year of operations, Fundaztic aimed to disburse RM500 million to more than 2,500 SMEs.

“These are indeed ambitious goals which we will pursue. It means growing the economy by enhancing access to financing to deserving SMEs. It would also help small time investors gain access to a powerful alternative investment vehicle with strong returns on investments,” she told reporters after jointly launching Fundaztic. com with company chairman Jeffrey Chew Sun Teong yesterday.

To date, Fundaztic has disbursed RM720,000 with 286 investors supporting the funded notes.

Fundaztic, which is a financial technology start- up, is one of the six P2P financial platform that was licenced as a recognised market operator by the Securities Commission of Malaysia.

Ng, who manages Fundaztic said the website was currently working on further enhancements in user experience through the development of a mobile application, as well as, smart investment features. — Bernama