Epicentre first S'pore-listed firm to use p2p lending

Singapore

MORE listed entities could soon expand their borrowing options to include loans from unregulated peer-to-peer (p2p) lending sites, even as Catalist listing Epicentre Holdings became the first in Singapore to raise at least S$1 million through p2p platform MoolahSense.

In a landmark deal, Apple products retailer Epicentre, though its subsidiary Epicentre Pte Ltd, raised debt for inventory purchases and general working capital through two fundraising tranches at S$500,000 each and at an interest rate of 13.5 per cent per annum. The debt is to be repaid within 12 months.