Crowdo gets licence to operate equity crowdfunding, P2B lending in Singapore

Crowdfunding platform Crowdo has received its provisional Capital Market Services (CMS) License from the Monetary Authority of Singapore (MAS) which would allow the company to offer both equity crowdfunding and peer-to-business (P2B) lending solutions in Singapore.

Crowdo, a leading crowdfunding player in the region, said this is the latest milestone in its multi-market portfolio push in Southeast Asia.

The company has also made synchronised public launches in Malaysia and Indonesia.

Crowdo chief executive and co-founder Leo Shimada commented that the platform is now gearing up for a full launch in its home market of Singapore and will offer both equity crowdfunding (ECF) and P2B Lending solutions.

“The acquisition of the CMS license here should give confidence to our Investor members and Issuer clients that we are supervised by regulators and operate at the highest level of professional standards,” he said in a statement.

Crowdo’s ECF platform in Malaysia is already fully licensed and operational, being one of the six awarded the licence by the Securities Commission last year.

In early March 2016, Crowdo launched its first fundraising offer in Malaysia. Its very first issuer, The Parenthood, achieved the largest equity crowdfunding offer to date in the region, having raised close to S$900,000, surpassing its target by 250 per cent.

A second offer by Wedding.com.my, is expected to launch soon.

In the same month, Crowdo also launched its P2B lending platform in Indonesia to the public, garnering interest from both local and global investors. It ran a private version of the platform with a closed group of participants since mid last year.

Shimada added: “I see our multi-market licensing and operational presence as an invaluable competitive advantage in an increasingly crowded, yet nascent industry.”

“Each of our markets is important and unique. Singapore is our home market, and passing the rigorous standards of the regulators here will give our investors additional assurance that we mean business. Malaysia is our showcase and I am immensely proud of my team there, having achieved a ground-breaking fundraising record with the first offer. As for our latest market – Indonesia – I see it as our growth engine and I am very optimistic about the growth prospects of P2B lending there,” he said.

Also read:

Parenthood Venture seeks up to $670k on Crowdo’s ECF platform to develop theme park

Malaysia: Crowdo launches ECF platform. Local startup, Wedding.com.my first to preview on platform

Exclusive: Crowdo to focus on pre-Series A deals in Malaysia, plans to launch operations in Indonesia by year-end

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.