Channel NewsAsia: The Collaborative Economy
The Collaborative Economy is an ecosystem built upon the peer-to-peer sharing of human and physical resources. MoolahSense has joined Henry Golding as he embarked on his journey across South Korea, China and Singapore to discover how the collaborative economy has transformed the way people live and interact.
On the 10th episode (Sharing of Money) of the special documentary series ‘New World Without Strangers’ by Channel NewsAsia (CNA), aired on 6th June 2016, MoolahSense shared more about how businesses benefit from Crowdfunding.
Henry Golding chats with MoolahSense
MoolahSense CEO, Lawrence Yong, was interviewed in the said episode to tell more stories about the crowdfunding scene in Singapore for SMEs and investors.
“The beauty of Crowdfunding is that, the investors can start participating in small amounts of fund. That’s one way for investors to reduce their risk. Of course, when it comes to lending, the main risk is that of a default by small businesses. The main way to mitigate that risk is to diversify participation across multiple campaigns”, Lawrence said.
CNA also visited one of our regular info sessions with investors and had the chance to chat with one of our members, who was one of those who invested in the crowdlending campaign for First Media Design School (FMDS) – one of the first businesses to launch on MoolahSense.
FMDS raised funds to support its business expansion into Southeast Asia. Mark Phooi, Founder of FMDS, has listed two campaigns in February 2015 and March 2016, raising over $300,000 to support his business growth.
“The experience has been tremendously pleasant in a sense that they (MoolahSense) have made the entire assessment process easy. It will literally give a lot of SMEs a second wing of opportunity. This is something that definitely gives a new avenue, a new platform that would help SMEs grow much faster”, Mark Phooi shared.
Refer to the timestamps below.
Video length – 23:34
- 1:48 – Crowdfunding in Korea
- 8:43 – Crowdfunding in Singapore
- 16:20 – Crowdfunding in China
The coverage on MoolahSense can be viewed from 12:22 – 16:19. Watch the full episode by clicking the image below.
Click the image to watch the full episode.