MoolahSense closes additional seed funding round

Visual from MoolahSense website

MoolahSense, a Singapore-based peer to peer (P2P) business lending service, has successfully raised undisclosed amount, from an oversubscribed seed round led by East Ventures and Pix Vine Capital.

The capital raised, will go towards talent acquisition for the marketing and business development teams.

MoolahSense functions as an online crowd-financing (i.e. crowdfunding) platform that connects businesses. Their current clientele consists mainly of SMEs seeking short-term loan financing from prospective investors.  It works by allowing a large pool of investors to make direct investments into local businesses for fixed returns.

Describing their mission as cultivating entrepreneurship by empowering businesses and investors to connect directly in a credible and trusted manner, the two co-founders, Lawrence Yong and Wei Tuck Chung, the CEO and COO respectively, possess an extensive portfolio of experience in the financial sector, focused on investment banking.

According to Singapore tech blog e27, Yong, CEO of MoolahSense stated, “SMEs make up 99 per cent of enterprises, employ 70 per cent of our workforce, and contribute more than 50 per cent of our GDP, but they only garner 20 per cent share of loans from the traditional financial system. On the other hand, everyday investors lack accessible options for a decent fixed yield.”

Perceiving market failures in this capital allocation process, MoolahSense aims to capitalise on this opportunity by building an online platform that provides direct finance to growth businesses, in exchange for fixed returns to investors. According to their website, they “…feel that this new route of capital allocation will make the financial system more inclusive and participative for the benefit of the society at large.”

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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.