Funding Societies was launched in February 2017 and is the first regulated P2P lending platform in Malaysia. Malaysia is the first country in ASEAN to regulate P2P financing.
I first came across this company on Facebook and signed up without giving much thought about it. It was one of those spontaneous moments when I instinctively make decisions; plus I am always ever curious about novel ways to make money and invest.
Funding Societies offers business term financing for SMEs and in a sense functions as an alternative platform for companies to raise funds for capital expenditure. In laymen terms, new companies always need funds to build up their business and going through the traditional route, i.e. banks, might be difficult for some of these companies.
It was only after a few months of signing up with Funding Societies did I finally decided to complete the registration and fund my account. The registration process was slightly tedious but not difficult – just follow the instructions given. It involves filling up some forms and scanning and mailing the hard copy of the forms back to them. My account was approved within 2 days.
After your account is approved, you may login and see all the available investment deals for you to invest in.
Update 22/4/2018: This was how the dashboard looked like previously:
The company has rolled out new updates recently and the interface is much slicker and conveys more useful information.
If you click on the Portfolio tab, you can get a quick overview of your ongoing investments:
You can get a quick estimate of your monthly cashflow:
Below, one can see the complete list of the completed as well as ongoing investments:
Funding Societies has given me good returns and all my investments are being paid on time so far. I have no issue with the platform and would highly recommend it as one of the top P2P platforms to park your money.