Channel NewsAsia: “Fans of crowdfunding say its appeal goes beyond financial benefits”
One company says this method of raising funds also creates a PR effect, as it helps firms gain the trust and support of customers and staff.
While the crowdfinancing industry is a growing, billion dollar one, it is relatively new in Singapore and even Asia. However, people are starting to see how this has added benefits for businesses seeking financing compared to traditional means.
This came after a successful crowd-financing campaign by MoolahSense. Ian, CEO of SMaths who raised more than its targeted principle amount, mentioned this in the CNA interview:
“Smaths gained the trust and support of not just our friends and family, but even more importantly, our customers and staff. Also, compared to going a bank with peer-to-peer (P2P) lending under MoolahSense, the PR effect is really the delta. This effect is something that is invaluable and we think that it is not something that traditional means can offer.”
This innovation aims to become a more “people-centric” way of financing.