Singapore-based lending and crowdfunding platform FundedHere started operations promising to connect start-ups in Southeast Asia and China with investors in Singapore.
The equity-based platform promises to get good entrepreneurial ideas funded while offering attractive returns for investors.
FundeHere helps start-ups get access to angel or seed funding, through equity issue or debt. "Our strategy is to leverage on Singapore's well-regarded regulatory framework and stature as an international financial centre to help startups in the region raise funding. We will work closely with startups, incubators and VCs as well as local universities and technology research agencies in Singapore. We will also reach out to startups in Indonesia, Vietnam, the Philippines and China," FundedHere CEO Michael Tee said.
The company said the funding platform is built on a straightforward idea. It connects investors to some of the most promising startups in Asia, helping businesses with great ideas to raise funds in exchange for equity stakes or via tenured loans.
FundedHere started operations on Monday after securing Capital Markets Services license from the Monetary Authority of Singapore (MAS).
FunderHere will rope in only accredited Investors (AI) in the investment platform and they will be allowed to invest from as low as $3,675) each in startups registered on the platform.
The company said it plans to register at least 1,000 AIs by the end of 2016.
Founder Lai Kwok Kin is a former journalist with 30 years of experience in media, capital markets and investor relations. Chief executive Michael Tee is an advisor to high and ultra-high net worth families and their businesses.
