Equity and debt crowdfunding platform launched

FUNDEDHERE, an equity and debt crowdfunding platform initially sponsored by Tembusu Partners' co-founder Andy Lim, was launched on Monday after receiving a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS).

It is Singapore's first such platform to "go live", said FundedHere.

Startups can raise angel or seed funding - through equity issue or debt - by registering their business ideas through the platform.

FundedHere has reviewed more than 100 startups (mostly from Singapore) and shortlisted approximately 10 which have potential to be crowdfunded.

Only accredited investors (AIs) - with at least S$2 million in net personal assets, excluding the primary residence, or earn an annual income of at least S$300,000 - are allowed to invest via the platform.

FundedHere targets to register at least 1,000 AIs by end-2016.

Last month, Capbridge - an equity crowdfunding platform by Clearbridge Accelerator and Singapore Exchange - said it has won a provisional CMS licence from the MAS and will soon roll out its platform.