Singapore’s leading fintech firm continues regional expansion with two new platforms: Peer-to-Peer Lending in Indonesia and Equity crowdfunding in Malaysia

Singapore, 7 July 2015 – Crowdo, Singapore’s longest running crowdfunding platform announced today the launch of a Peer-to-Peer (P2P) lending platform for Start-ups and small and medium enterprises (SMEs) in Indonesia. This comes hot on the heels of the developments in Malaysia, where just last month Crowdo was the first Singaporean Fin-tech startup to be awarded regulatory approval to operate an equity crowdfunding platform in Malaysia.

The launch of the two regional platforms makes Crowdo the first South East Asian operator to offer a full portfolio of crowdfunding services, including debt-based and equity-based crowdfunding.

Until recently, Crowdo was known as Crowdonomic. The new name marks a new phase for the firm, where regional expansion and multiple investment product offerings will drive the next stage of growth. “Since we started, our ambitions have grown, and along with that, so have our product and service offerings. With our rapid expansion, we felt it was a natural transition to rebrand ourselves to adapt to our regional aspirations,” Leo Shimada, CEO and Co-Founder of Crowdo.

Catering to a strong market need, Crowdo’s new P2P lending platform in Indonesia is slated to enable collateralized loans to cover the working capital needs of Indonesia’s many businesses which are unserved or underserved by the traditional financial system. These unserved and underserved enterprises account for around 48% of all Micro Small Medium Enterprises in Indonesia, leaving a total credit gap of over US$27.5 billion [i].

“Our clients have robust businesses with sound repayment capabilities but are unable to access traditional financing systems due to the lack of existing relationships with financial institutions. Crowdo’s P2P lending is a powerful enabler for these high growth businesses in Southeast Asia because it bypasses the inefficiencies of the traditional financial system by efficiently matching borrowers and investors while automating much of the processes” said Leo Shimada.

The platform, which is currently in a private, limited invitation phase (http://p2p.crowdo.com)is inviting select investors who are seeking higher yields with new investment opportunities to participate in deals. So far, interest has been strong, as hundreds of loans have already been successfully funded during its pilot phase, with zero defaults. The platform is expected to go live to the public later this year.

[i] Source: IFC Enterprise Finance Gap Database

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