SINGAPORE: Aimed at helping startups find access to capital, Singapore’s stock exchange (SGX) signed two separate Memorandums of Understandings (MOUs) with separate stakeholders in the startup economy.
The agreement that can be considered unique to our modern economy is an MOU signed with Crowdo, a regional lending platform with P2P and equity crowdfunding options. To date, it has financed about 2,000 projects.
Crowdo is extremely new to Singapore, having also announced its official launch in the city today. The company has two separate branches in Malaysia and Indonesia. It has obtained a full Securities Crowdfunding License from the Monetary Authority of Singapore.
“This partnership creates a powerful combination of a regional early stage and pre-IPO financing platform via Crowdo, and a competitive public market solution via SGX,” said Leo Shimada, Co-Founder and CEO of Crowdo in a statement.
From the perspective of SGX, the motivation for these agreements is to build an infrastructure to educate companies on ways they can access capital.
The end goal is to create more efficient avenues for raising money.
