Crowd Funding Singapore Story
Fund Singapore started from the dream of investing in Singapore start-ups and companies. The idea of using local money to invest in local companies is not new. However, it is the act of doing it that makes the impact. Fund Singapore is founded on this principle that the founders share. We believe that no good company or startup should be allowed to fail due to the lack of funding. It is about making Singapore economy and business strong again. Fund Singapore is about channelling Singapore money to Singapore-based companies and businesses.
The role of small and medium-sized enterprises (SMEs) are critical to the economy. There are close to 200,000 SMEs in Singapore and that constitute 99% of the companies in Singapore. These SMEs contribute almost half of Singapore's GDP and employs 70% of the workforce. SMEs are the backbone of the economy. Access to funds for working capital, expansion, and business needs are important for these SMEs. Fund Singapore through its crowdfunding platform complement the financial institutions by offering smaller loan amounts over a shorter time horizon to these SMEs. The funds will help the SMEs be more resilient during tough times by providing the much needed working capital and help SMEs to grow and expand. Stronger and more vibrant SMEs will help to boost the economy and also provide stable employment.
Start-ups are essential for the continual growth and relevance for Singapore. Singapore's next stage of economic development cannot be competing on just being more efficient or having better implementation than our competitors. It has to be through innovation. Entrepreneurship is crucial to Singapore's drive towards becoming an innovation-centric economy and financing are integral to a start-up's survival and growth. As a startup, it is not easy to obtain venture capital or angel funds. Fund Singapore will bridge this gap by doing the first-mile vesting. By extending equity investments to these startups, Fund Singapore will potentially bring these startups to fruition, and deliver change and process. While these startups bear higher risk, these risks are partially mitigated through our PRIS framework and expert panellists. We bring in variety of views and knowledge to access these startups to reduce the chances of failure and loss of capital. Through Fund Singapore, we want to challenge innovators to focus on their ideas, work hard and dream big. No great idea should halt due to lack of funding. Investors will get to participate and benefit in the profits if these startups succeed.
The real estate and construction industry provides one in five jobs in Singapore. It embodies a diverse eco-system in Singapore, supporting the overall larger broad economy. The importance of the real estate industry spills over to other sectors (accounting, finance, legal, etc) where it provides employment and businesses. Fund Singapore supports this industry by extending financing for growth and expansion.
How it works
Fund Singapore positions itself to be the most secure platform in Singapore. It uses trustee (via escrow accounts) to handle investors' funds. In addition, it uses enets and a local bank's bill payment gateway for funds transfer to prevent data entry errors and for secure processing.
Fund Singapore adopts a stringent credit due diligence process for the companies listed on its platform. All startups listed on the platform are assessed with the Fund Singapore's PRIS framework and reviewed by our resident and guest panellists. Most of these startups are pre-validated by universities or other incubators before being referred to Fund Singapore. Corporate loans are subjected to scrutiny using intricate data analytics and volatility modelling. Multi-pronged valuation techniques are used to determine risk in real estate projects. Fund Singapore also drive financial technology innovations by working with universities and researchers to further enhance our credit due diligence methodology, increase productivity and reduce transaction costs.
At Fund Singapore, we revolutionise financial services.