Singapore's First Equity Crowdfunding Platform Fundedhere Plans To Expand To Malaysia And Indonesia

SINGAPORE, March 28 (Bernama) -- FundedHere, Singapore's first licensed equity and debt-based crowdfunding platform, hopes to explore opportunities in Malaysia and Indonesia as part of its plans to bring its crowdfunding platform to Southeast Asia. Leveraging on the platform's foundation in Singapore, the regional expansion would enable companies and investors to conduct cross-border crowdfunding transactions. "Looking ahead, an expansion to Malaysia and Indonesia is the next logical step. "Many startups and smaller listed-companies aim to expand beyond our shores, and by extending our footprint, we will be better positioned to support local businesses in their growth journey," said FundedHere Co-Founder and Executive Director Agnes Siaw in a statement Tuesday. She added that FundedHere had established a strong foundation within Singapore's legal framework and had proven that equity and debt-based crowdfunding can be a vital component in the republic's ecosystem for startups and growth companies. FundedHere is an equity-based and lending crowdfunding platform targeting start-ups in Southeast Asia and China. Launched in March 2015, it obtained its Capital Market Services Licence from Monetary Authority of Singapore (MAS), allowing it to issue shares on March 18, 2016. Last year, FundedHere helped seven Singapore companies to raise S$4 million (US$1 = S$1.39) through its online platform, www.fundedhere.com. Investors can invest from as low as S$5,000. Unlike equity-based crowdfunding, crowdlending enables companies to bridge short-term funding needs without diluting the founder’s stake in the company. -- BERNAMA