KUALA LUMPUR: Peer-to-peer financing platform Moneysave (M) Sdn Bhd has crowdfunded about RM200 million as of November 19 2021 with more than 800 investment campaigns in the past 18 months since May 2020.
The platform has also managed a zero per cent default rate across all approved investments, making Moneysave the fastest and best performing P2P crowdfunding platform that the Securities Commission regulates.
Investments using Moneysave platform benefits Malaysian small and medium enterprises (SME) directly as it provides working capital and project financing required by the SMEs from various industries such as aerospace engineering, food manufacturing and distribution, fast-moving consumer goods (FMCG), agritech, powertech and energy, oil and gas services and many others.
According to Moneysave founder and chief executive officer Vincent Soh, since its launch 18 months ago, Moneysave had crowdfunded more than RM190 million, benefitting a supply chain of more than 5,000 SMEs.
The platform has also provided a safer investment platform with a zero per cent default rate by the SMEs since launch and provided investor returns of more than 16 per cent per annum.
Further, the platform also saw more than 50 per cent of SMEs crowdfund in less than 30 minutes, and the SMEs receive the investments within the same day.
Moneysave crowdfunds companies from six months old incorporation and do not need any collateral as security for financing up to RM25 million currently.
Over the next five years, Moneysave aims to be an economic multiplier with funding expected to be more than RM160 billion based on RM16 billion of SME funded.
The platform's success would benefit more than 100,000 SMEs and enrich one million families.