Singapore: Crowdo gets MAS licence for P2P lending, equity crowdfunding

Singapore-based crowdfunding platform Crowdo has received its full Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS) for securities crowdfunding (SCF) to deliver both peer-to-peer (P2P lending) and equity crowdfunding.

It had obtained a provisional licence in April this year.

The licence makes Crowdo the first and only regional operator that can undertake licensed P2P in Southeast Asia. It is also the first among to have multi-jurisdiction licensing in the region, the firm noted.

The Securities Commission Malaysia is currently in the midst of operationalising P2P financing for small and medium businesses by 2017. It has called for submissions from those interested in launching P2P financing platforms and had reportedly received about 100 submissions.

Crowdo is one of the leading securities crowdfunding platforms in the region, with several successful fundraising deals in Malaysia and growing traction of its Indonesian platform.

Crowdo’s platforms in Malaysia and Indonesia were started just a few months of each other.

Since then, the ECF platform in Malaysia has gone on to help facilitate both the largest ECF offer in the region and the first ECF offer lead by a venture capital firm Gobi Partners.

On the Indonesian lending platform, it has processed more than 600 loans with zero defaults.

Crowdo believes these achievements solidify its position as a professional player in the space with strong credentials to support the launch of the Singapore platform.

Crowdo chief executive officer and co-founder Leo Shimada commented that the company has innovated and re-invented itself to be always one step ahead of all our competitors, since inception.

“The license granted to us by MAS effectively makes us the first and only operator in Southeast Asia that can undertake P2P lending under a full license. We are here to stay and to play our part in making Singapore a truly exciting global fintech hub,” it said.

The addition of the CMS license in Singapore further reflects Crowdo’s adherence to regulations in the markets it operates in.

In June 2015, it was approved as a Recognised Market Operator for ECF platform by Securities Commission Malaysia.

Also read:

Malaysia: ECF players, Quest Ventures now co-investors with Cradle Fund

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

Malaysia ECF needs to ride out initial phase of gaining critical mass: Jason Best

Malaysia vs Singapore: An inside analysis of crowdfunding regulations

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.