MoolahSense launches world’s 1st ‘Cooling-Off Day’
As campaign listings of SMEs (Small-to-Medium Enterprises) get funded in record time at MoolahSense, the first and legally compliant crowdlending platform in Singapore, the ‘Cooling-Off Day’ feature has been launched on the platform last 13 April 2016 to provide investors sufficient time in evaluating campaign listings.
Through the ‘Cooling-Off Day’ feature, investors will be able to review full details of crowd-financing campaigns at least one (1) day prior to their actual launch. A countdown timer will indicate the time a campaign goes ‘live’ and at such point, the ‘Invest’ button gets activated.
“We are excited by investors’ interest to crowd-finance SME campaigns at MoolahSense which have led to campaigns being funded in record time. At the same time, we would like our investors to be given the opportunity to evaluate and participate. Hence, we have taken the lead to set standards in this industry by launching a world’s first ‘Cooling-Off Day’ feature for the benefit of investors,” MoolahSense CEO Lawrence Yong said.
At MoolahSense, SMEs are encouraged to provide accurate, relevant and transparent information at all times. The platform provides its investors with tools to aid them in making sound investment decisions. Each campaign cites relevant financial information and documentations submitted by the SMEs upon listing, which will empower investors in conducting their own due diligence and fact-finding to fulfil their unique investment criteria.
Investors then select who they wish to invest in by submitting note subscription offers. Investors can spread their risks by investing across different businesses.
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