Newly licensed Singapore crowdfunding player kickstarts platform
By Digital News Asia January 23, 2018
- Obtained the Capital Market Services (CMS) licence in December 2017
- Partnered with Vistra Corp Trust, a trust company licensed by MAS
SINGAPORE start-up, FundTier, launched its crowdfunding platform officially after obtaining the Capital Market Services (CMS) licence in December 2017.
Founded by five former bankers, FundTier aims to connect local SMEs seeking alternative funding with investors who have an interest in funding SMEs.
"We wish to create a win-win situation for both parties whose needs have been largely underserved," explained co-founder Shaun Lee.
To protect the interests of its investors, FundTier will curate every funding request by assessing the requesting company's financial position and its growth potential.
All funding requests to FundTier will be listed only upon passing the assessment by FundTier's team of credit assessors.
Lee added: "The stringent process of selection is necessary to instil confidence in our pool of investors as we aim to minimise investment risks for them."
To register an account with FundTier, potential investors need to deposit an initial balance into an escrow account managed by Vistra Corp Trust, a trust company licensed by Monetary Authority of Singapore.
By partnering with Vistra Corp Trust, FundTier is able to promise security and transparency in funds movement to all its investors.
No funds will be disbursed without the authorisation of any investor. Investors can expect to earn an attractive return, depending on the risk and tenor of the funding request.
Interested potential investors and local SMEs seeking to list their funding request may visit www.fundtier.com for more information.