Singapore, 28 April 2016 – Crowdo, one of the largest and fastest growing crowdfunding platforms in South East Asia, announced today that it has received its provisional Capital Market Services (“CMS”) License from the Monetary Authority of Singapore (“MAS”). The CMS license would allow Crowdo to offer both equity crowdfunding and peer to business (P2B) lending solutions in Singapore. This is the latest milestone in Crowdo’s multi-market portfolio push in South East Asia. The announcement for the license in Singapore comes hot on the heels of the synchronized public launches in Malaysia and Indonesia, effectively solidifying Crowdo’s position as the foremost crowdfunding leader in the region.
Crowdo’s CEO and Co-Founder Leo Shimada commented: “We are now gearing up for a full launch in our home market of Singapore and will offer both Equity Crowdfunding (ECF) and P2B Lending solutions. The acquisition of the CMS license here should give confidence to our Investor members and Issuer clients that we are supervised by regulators and operate at the highest level of professional standards.”
Crowdo’s ECF platform in Malaysia is already fully licensed and operational. In early March 2016, Crowdo launched its first fundraising offer in Malaysia. Its very first issuer, The Parenthood, achieved the largest equity crowdfunding offer to date in the region, having raised close to 0.9 million Singapore Dollars, surpassing its target by 250%. A second offer by wedding.com.my, is expected to launch soon to keen investor interest. In early March 2016, Crowdo officially launched to the public its P2B lending platform in Indonesia to intense interest from both local and global investors, after building up the anticipation with a private version of the platform with a closed group of participants since mid last year. On these milestones, Shimada commented: “We have successfully facilitated a record breaking ECF fundraise which has exceeded 0.9 million Singapore Dollars. This is a great testament to the massive potential of alternative financing and a strong sign of Crowdo's credentials and capabilities as a leading operator in the space. We believe that our track record speaks louder than words. The addition of the CMS license in Singapore so soon after we were approved as a Recognised Market Operator by the Securities Commission Malaysia (SC) last year would make Crowdo the only operator to achieve multi-jurisdiction licensing in SE. Asia. We are very proud of these achievements. No other operator has our track record and our multi-market presence”.
Said Shimada: “We have been in business since 2013 and have grown from strength to strength. I see our multi-market licensing and operational presence as an invaluable competitive advantage in an increasingly crowded, yet nascent industry. Each of our markets is important and unique. Singapore is our home market, and passing the rigorous standards of the regulators here will give our investors additional assurance that we mean business. Malaysia is our showcase and I am immensely proud of my team there, having achieved a ground-breaking fundraising record with the first offer. As for our latest market - Indonesia – I see it as our growth engine and I am very optimistic about the growth prospects of P2B lending there.”
Best positioned to offer the strongest combination of market access, quality deal flow, and financial expertise to both businesses and investors, Crowdo has a holistic view of both sides of the marketplace, being a startup led by a team of fintech experts with investment backgrounds. Crowdo’s team of consultants - armed with real-world experience from supporting hundreds of offers since 2013, carefully guide businesses to improve their Offer details and Offer marketing plans.
As for the future, Crowdo has set its sights on expanding its portfolio in each of its current three markets and launching into new countries within the region. "We are currently fundraising for growth capital to extend our leadership position in the multiple markets we target. There is intense investor interest primarily due to the fact that that they recognize Crowdo as a distinctive and credible regional player which can operate professionally in a regulated environment." said Shimada.
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