SINGAPORE (March 21): FundedHere has launched Singapore’s first licensed equity and debt crowdfunding platform, bridging start-ups in South East Asia and China with investments or venture debt from as low as $5,000 each.
This comes after Fundedhere received its Capital Markets Services Licence from Singapore’s Monetary Authority of Singapore on March 18.
Start-ups can raise angel or seed funding – through equity issue and/or debt – by registering their business ideas through the platform. As the startups mature they can seek more traditional venture capital or private equity.
FundedHere says it has reviewed more than 100 start-ups, mostly from Singapore, and has short-listed approximately ten which have potential to be crowdfunded.
Only accredited investors (AIs) -- defined as those with at least $2 million in net personal assets, excluding the primary residence, or earn an annual income of at least $300,000 --are allowed to invest via the platform.
FundedHere aims to register at least 1,000 AIs by year-end. Over the longer term, it hopes to register up top 10 per cent of AIs in Singapore.