New invoice financing to back Singapore SMEs
Capital Springboard (S) Pte Ltd launched a peer-to-peer financing platform for accredited investors seeking high returns on short-term invoices.
Investors benefit from annualized returns of 11-25% depending on the grade of risk of the invoice, during a 90 day investment window. The higher the grade of risk, the higher the returns. The Singapore pilot that started in July 2015, has already seen S$80million worth of invoices being traded.
Roger Crook, CEO of Capital Springboard says, “Singapore is a global financial hub and a market with a sizable SME sector that requires access to capital. Our Singapore pilot proved very encouraging with over 1,300 invoices worth $80 million funded and we look forward to keeping the momentum. Capital Springboard’s peer-to-peer investing platform is intuitive and user-friendly."
"We will provide accredited investors the opportunity to invest in an exciting new asset class, and to earn an attractive return when the invoice is paid. We also look forward to providing accessible capital for SMEs in Singapore to fund their growth. Importantly all investors and SMEs have to undergo a rigorous on-boarding and screening process before qualifying to participate with us,” he adds.
Accredited Investors can open a Capital Springboard trading account held by escrow agent, Vistra Trust (Singapore) Pte, with a minimum investment of S$50,000 and withdraw their undeployed funds at any time. Vistra Trust is regulated by the Monetary Authority of Singapore (MAS).
Capital Springboard’s platform will innovate the way small-to-medium enterprises (SMEs) fund their growth through accessible capital upon three days of the invoice being successfully submitted. SMEs will only incur a one-off origination fee of 2% of the amount advanced to them. SMEs with an invoice minimum of $25,000, registered in Singapore and in business for at least a year, will be allowed to participate in the peer-to-peer investing platform. SMEs are vetted by Capital Springboard’s experts for credit worthiness and financial strength in order to minimise risks imposed on investors.
Backed by Centurion Portfolio Managers, a London based FCA regulated investment advisor, the Capital Springboard team is comprised of a team of experts with a strong track record in business and finance.
23 Jun 2016