Crowdo announced earlier this week that it had received its full Capital Market Services (CMS) License from the Monetary Authority of Singapore (MAS) to operate as both a P2P lending and Equity Crowdfunding platform.
This news follows after platforms like Funding Societies and New Union announced that they were temporarily pausing their fund matching activities while their CMS license application is in progress.
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.”
Crowdo's co-founder, Leo Shimada
With the awarding of this license, investors who are interested in p2p lending can fund businesses around ASEAN. For instance, if you are an investor from Singapore, you can now lend to fund seekers from Indonesia or Malaysia.
Crowdo in Malaysia
As of last year, Crowdo’s equity crowdfunding platform in Malaysia is already fully licensed and operational, being one of the six awarded the licence by the Securities Commission.
Since then, the Crowdo in Malaysia has gone on to facilitate both the largest equity crowdfunding offer in the region where The Parenthood Venture Sdn Bhd sought to raise MYR2.975 million (about US$730,000).
From a regional standpoint, Crowdo is seen to be the fastest growing community in ASEAN, with about 23,000 members.
Image Source: Crowdo.com