Kuala Lumpur, 20 November 2020 - Moneysave P2P Crowdfunding Platform announced the fastest Malaysian P2P Crowdfunding of Potboy a leading Malaysian online grocer. The record was achieved in 95 seconds starting from the time the Investment Note was hosted online to 100% subscription.
“It only took 15 investors to fully subscribe RM180,640.00 Investment Note offered by Potboy on Moneysave’s P2P Crowdfunding Platform on 03/11/2020. This is a testament of the speed and power of crowdfunding on our platform.
Our investors are very proud to be crowdfunding a rising star in the digital grocery space such as Potboy and look forward to crowdfunding 40,000 SMEs the next 5 years”, said Moneysave’s CEO, Vincent Soh.
The Securities Commission Malaysia (SC) announced at its virtual SCxSC fintech conference in Oct 2020 that more than 2,500 Micro, Small and Medium Enterprises (MSMEs) have raised more than RM1 billion through the regulated crowdfunding markets of the Malaysian capital market.
For SMEs, Moneysave would be an alternative source of finance compared to SME loans, factoring, equity fund raising in BURSA Malaysia, private equity and venture capital.
For Investors, Moneysave’s investment notes are targeted to yield between 6%-12% p.a. for short tenures of 1 to 4 months to assist the SMEs with their short-term working capital. Therefore, we are an alternative investment compared to fixed deposits with banks, bonds or Sukuks, mutual funds, unit trusts, private equities and stock investments in BURSA Malaysia.
“Potboy Group is delighted to be crowdfunded by Moneysave and possibly setting a world record at the same time! We are humbled by the support and trust given by Moneysave’s investors and look forward to becoming Malaysia’s leading online grocer”, said Potboy’s CEO, Eddie Chew.
Besides digital / online grocers, Moneysave is targeting to crowdfund the suppliers and contractors of Malaysian Government Ministries, agencies and government linked companies (GLCs) as well as companies such Telekom Malaysia, Tenaga Nasional, Sime Darby, Maybank, Petronas, Axiata, Maxis, Public Bank and other as Top 100 BURSA companies.
“Moneysave’s investors were attracted to Potboy being in a sunrise industry, the strong financial growth and performance of Potboy coupled with the attractive returns of 12.25% p.a. that was repayable over 2 Monthly Instalments.
Also, the margin of financing was 80% of Potboy’s Purchase Order value to its supplier.
Besides the attractive yield and the short tenure of 2 months, the investor’s risks are further reduced by Moneysave’s unique incentives given to Potboy for reducing their credits and business risks” added Soh.
For this investment, investors risks are reduced as Moneysave helps to secure on behalf of the investors
a) the key directors and corporate guarantee
b) post dated cheques
c) key man / life insurance assignment to Moneysave
d) payment of funds crowdfunded to Potboy’s suppliers directly; and
e) repayment over 2 monthly instalments of principal plus interest
“We have written to Malaysian Book of Records, Asia Book of Records and also Guinness World Records to review our video and validate our feat which was also viewed live during Moneysave’s Live: Crowdfunding Workshop. We have researched worldwide and to date we seem to be the only P2P Crowdfunding Platform that have created such a record” said Soh.
Moneysave targets to Crowdfund 40,000 SMEs in Malaysia the next 5 years and looks forward to value adding to the Malaysian economic well-being.
With its tagline of “Delighting You… Financially”, Moneysave aspires to be the top fintech / P2P Crowdfunding Platform in Malaysia and Asia specialising in the Supply Chain Financing of Trade Invoice / Receivables Financing where Issuers or Small Medium Enterprises (SMEs) come to Moneysave’s platform to seek financing by selling their Trade Invoices or Trade Receivables or Trade Payables (Purchase Order Financing) at a margin of up to 85% of the invoice value. For example, an Invoice Value of RM100k can be funded up to RM85k. The tenure of funding is short term between 30-180 days only.
Moneysave plans to replicate its business to Indonesia and ASEAN the next 3 years and has submitted to the Securities Commission of Malaysia to be a Shariah Compliant P2P Crowdfunding Platform by December 2020.