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Equity and debt crowdfunding platform launched

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FUNDEDHERE, an equity and debt crowdfunding platform set up 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).

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.

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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.

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