Moneysave launches P2P crowdfunding platform
KUALA LUMPUR: Moneysave (M) Sdn Bhd has recently launched a peer-to-peer (P2P) crowdfunding platform to assist 40,000 Malaysian small and medium-sized enterprises (SMEs), targeting RM8 billion worth of investments from investors.
In a statement yesterday, Moneysave founder and chief executive officer Vincent Soh said to crowdfund the SMEs, particularly after the Covid19 outbreak which has hit the economy badly, the company is hosting investment notes which offer both retail and institutional investors returns of between 7.0 and 16 per cent returns per annum in the next five years.
He added that Moneysave specialised in short-term Trade Invoice Financing, from 30 days to a maximum of 180 days, with up to 85 per cent margin of the invoice value.
“For example, an invoice value of RM100,000 can be crowdfunded up to RM85,000,” said Soh.
He said to achieve the RM8 billion invetsment target, Moneysave is only tapping on approximately 0.33 per cent of Malaysia’s combined deposits and unit trust investors, estimated to be worth around RM2.4 trillion currently.
To further safeguard the investors, all investment monies are transferred to and are held in investor trust accounts managed by Maybank Trustees Bhd.
Moneysave’s P2P Platform is also regulated by the Securities Commission of Malaysia, and it is also believed to be the first P2P crowdfunding platform in the world to offer multi risk reduction investment strategies to lower the risk of investments.
Soh added that Moneysave aims to expand its business in Indonesia and other Asean countries in the next three years.
At the moment, the platform is preparing its submission to the Securities Commission of Malaysia to be a Shariah-compliant P2P crowdfunding platform by August 2020.
Moneysave offers a free and convenient investment platform that allows investors to register and start investing in less than three minutes through its 100 per cent online portal which is accessible globally.
It also allows SMEs to apply for the funding request and receive a conditional approval from Moneysave within three minutes.
“In order to lower the cost of financing, the SMEs would be rewarded with incentives if they perform or meet certain risk reduction criteria.
“The maximum incentive that can be awarded to any single investment note is 5.0 per cent per annum at any time,” the company said, adding that investors would get to filter and choose investment notes based on the various risk reduction criteria met by the respective SMEs, thus reducing their investments risks.