Singapore, 25 July 2016 – Crowdo, one of the largest crowdfunding platforms in Southeast Asia, announced today that it had received its full Capital Market Services (CMS) License from the Monetary Authority of Singapore (MAS) for securities crowdfunding to deliver both P2P lending and Equity Crowdfunding on 18 July. This effectively makes Crowdo the first and only regional operator that can undertake licensed P2P in South East Asia.
The announcement for the license in Singapore comes hot on the heels of Crowdo’s record breaking fundraising in Malaysia and growing traction of its Indonesian platform, further strengthening its position as the region’s foremost securities crowdfunding leader.
Crowdo’s platforms in Malaysia and Indonesia were started within a short time period from each other just a few months ago. Since then, the Malaysian platform has gone on to help facilitate both the largest ECF offer in the region and the first ECF offer lead by a Venture Capital Fund, while the Indonesian platform has processed more than 600 loans with zero defaults. These achievements solidify Crowdo’s position as a professional player in the space with strong credentials to support the launch of the Singapore platform.
Crowdo’s CEO and Co-founder Leo Shimada commented: “Since its inception, Crowdo has innovated and re-invented itself to be always one step ahead of all our competitors. The license granted to us by MAS effectively makes us the first and only operator in South-East Asia that can undertake P2P lending under a full license. We are here to stay and to play our part in making Singapore a truly exciting global fintech hub.”
The addition of the CMS license in Singapore just months after it was approved as a Recognised Market Operator (Equity Crowdfunding Platform) by Securities Commission Malaysia (SC) last year makes Crowdo the only operator to achieve multi-jurisdiction licensing in South East Asia.
Said Shimada: “No other operator can claim our track record and our multi-market presence. Singapore is our home market, Malaysia is our showcase and our business in Indonesia is our growth engine. We are rolling out a host of offers on our platforms in the coming months. There is no greater time to be in the fintech space and no greater time to be in the region. We have a front-row seat to all the amazing innovation that is happening here and we are in a prime position to help in the fundraising efforts of the region’s high growth potential companies“.
Best positioned to offer the strongest combination of international access, quality deal flow, and financial expertise to both entrepreneurs 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. Startups on Crowdo’s platform receive assistance in preparing quality offers. Crowdo’s team of consultants - armed with real-world experience from supporting hundreds of offers since 2013, carefully guide entrepreneurs to improve their Offer details and Offer marketing plans.
Crowdo has the fastest growing community in Southeast Asia, currently with close to 23,000 members and growing by double digits quarterly. Crowdo’s vast expertise in entrepreneurship and startup investments extends beyond Southeast Asia, having helped businesses across six continents raise funding from more than 70 countries.
Crowdo’s business is currently growing rapidly and the platform is hiring for more than 15 positions in Singapore, Malaysia and Indonesia.
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