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P2P Lending Singapore: Comparison of Top Platforms

p2p lending singapore

Peer-to-peer (P2P) lending in Singapore is a growing alternative financing option, particularly for small and medium-sized enterprises (SMEs). It is a fintech solution that connects borrowers with investors through a digital platform, providing SMEs with more accessible sources of funding. 

In recent times, SMEs in Singapore faced various macroeconomic challenges, such as rising costs and inflation. In fact, over half of the Singapore SMEs surveyed in the Global Business Monitor survey by Bibby Financial Services cited inflation as their top concern. Despite inflation rates trending downward since late 2022, price levels are still elevated, with headline inflation at 4% in August.

For SMEs seeking alternative financing options, P2P lending can be a viable option. To apply for P2P loans in Singapore, you need to choose a reputable P2P lending platform, research available options, compare interest rates and fees, and understand the potential risks involved. By doing so, you can find an investment that aligns with your financial goals and risk tolerance.

Overview of P2P Lending in Singapore

Peer-to-peer lending in Singapore, a FinTech innovation, allows borrowing and lending money without traditional banks, gaining popularity, especially among SMEs and startups for its accessibility and relaxed criteria.

It stands out as an alternative investment option in Singapore, offering attractive returns and providing borrowers with a more efficient funding channel, as investors can directly fund loans on P2P platforms, bypassing financial intermediaries and expediting capital access for businesses.

However, P2P lending involves risks like cybersecurity threats, limited regulatory oversight, and potential high default rates. It’s vital for lenders to be aware of platform fees and to conduct thorough research before engaging. For both borrowers and lenders, staying informed about the latest trends in P2P lending is crucial for making well-informed decisions and fully utilizing the benefits of this innovative financial service.

Pros and Cons of P2P Lending

For Borrowers


  • Access to funds with more flexible repayment options than a traditional bank or financial institution.
  • No need for collateral, reducing the risk of losing assets.
  • Faster funding process with less documentation required.


  • The application process can be time-consuming.
  • Additional costs due to platform fees.
  • Risk of legal consequences for non-repayment of loans.
  • Potential security issues due to data breaches on the platform.
  • Uncertainty about the final loan amount that can be secured.

For Lenders


  • Potential for lucrative returns.
  • Opportunity for investment diversification.
  • Lower capital requirements compared to other investment types, aiding in portfolio balance.


  • High risk of repayment defaults, leading to potential losses.
  • Platform fees that can reduce overall returns.
  • Competitive environment leading to potentially lower interest rates.
  • Security risks affecting personal information and platform stability.

According to Investopedia, individuals considering lending money via a P2P lending platform should be aware of the risk that borrowers may fail to repay their loans, a concern similar to that faced by traditional banks.

As such, it’s crucial for lenders to thoroughly research and understand the specific features of different P2P lending platforms in Singapore before deciding, in order to align with their financial goals and risk tolerance.

Top P2P Lending Platforms in Singapore

P2P LendingLoan AmountInterest RateMinimum Investment AmountInvestor Fees (on interest earned)
BRDGEUp to S$2 million0.077% (cumulative) S$1,000 per campaign15%
Funding SocietiesTerm Loan: S$100,000 and S$1 million
Micro Loan: S$100,000
As low as 0.8% per monthS$20 per campaign (S$100 initial deposit)18%
MinterestS$10,000 to S$3 million8% to 18% p.a.S$50 per campaign (S$500 initial deposit)15%
MoolahSenseS$50,000 to S$5 million (Small Offers Exemption)
above S$5 million under Private Exemption
18% p.a.S$100 per campaign1%
ValidusUp to S$150,000As low as 1.3% per monthS$50,000/portfolio20%
Crowd Genie Financial ServicesS$30,000 to S$2 million per loanStarts at 9% p.a.
Capital Springboard SingaporeS$25,000 (invoice minimum)2% (origination fee)


BRDGE is a P2P lending platform that offers short-term financing solutions to small and medium-sized enterprises (SMEs) in Singapore. They provide loans of up to S$2 million, with a repayment period of up to 12 months. With competitive interest rates and swift processing times, BRDGE has become an attractive choice for businesses needing immediate funding.

funding societies logo

2. Funding Societies

As the first lending platform in Singapore, Funding Societies has become a popular choice among investors and borrowers alike. This platform facilitates loans for SMEs, invoice financing, and even property-backed loans. Funding Societies has funded more than S$1.95 billion in loans as of December 2020. With a simple online application process and quick approvals, Funding Societies provides a user-friendly experience.

One investor wrote in Google Reviews that they have had a positive experience with Funding Societies, highlighting the user-friendliness of its mobile app and the platform’s prompt customer service. 

minterest logo

3. Minterest

Minterest offers both secured and unsecured loans to SMEs, with loan amounts ranging from S$10,000 to S$3 million. They have a robust credit assessment system in place, which ensures that only creditworthy borrowers are approved. This focus on credit quality helps mitigate risks for investors.

Wenni Tan, an investor of Minterest, shared, “Minterest is just a perfect investing platform for a new investor like me, allowing me to start with small capital from $50 while allowing me to browse through all the deals and investments on the go. I can easily diversify my investment and have a full glance of my investment portfolio.”

moolahsense logo

4. MoolahSense

MoolahSense, established in 2013, holds the distinction of being the first digital lending platform to be granted a full Capital Markets Services license by the Monetary Authority of Singapore (MAS). This P2P lending platform focuses on increasing financial inclusion for SMEs by offering them loans at competitive rates. They use advanced algorithms and credit assessment tools to provide various types of loans, including working capital loans and business expansion loans.

Additionally, they are known for exceeding its funding targets, often raising more than double the intended amount, MoolahSense attracts investors with the promise of appealing interest rates, comprehensive details on each project, and a strong emphasis on cultivating a diversified investment portfolio. 

Gabriel Tham wrote in a Seedly review that among the pros of the MoolahSense platform is that the loan is very detailed, has an auto investing feature, and Loans come in many flavours, such as callable, monthly equal installments, and bullet.

validus logo

5. Validus

With a focus on securing financing for SMEs, Validus offers various lending options such as invoice financing, purchase order financing, and working capital loans. Their quick processing time and competitive fees make them a go-to choice for many businesses in need of assistance.

Roy Chua wrote in a Google Review that the Validus P2P lending platform offers fast approvals and really low rates, especially for repeat SME borrowers.

crowd-genie logo

6. Crowd Genie Financial Services

Crowd Genie Financial Services is a MAS-licensed peer-to-peer lending platform in Singapore. They provide SMEs with access to quick and simple loans, and investors with opportunities to finance these loans. This platform offers both secured and unsecured loans, allowing for more investment options to cater to the investor’s risk appetite.

In an interview with The Silicon Review, Akshay Mehra, CEO of Crowd Genie Financial Services, said, “In our business, we have over-invested in making sure that our credit assessments, regulatory approvals, and customer yields are always best-in-class.”

capital springboard logo

7. Capital Springboard Singapore

Last but not least, Capital Springboard is a P2P platform that focuses on invoice financing for SMEs. Through their platform, businesses can raise funds by selling their unpaid invoices at a discount. This not only provides businesses with immediate access to cash but also allows investors to earn returns on these investments.

Each P2P lending platform in Singapore offers unique features and opportunities for borrowers and investors. Do thorough research and consider your options before committing to any platform.

Risks Associated with P2P Lending

For Borrowers

When engaging in P2P lending in Singapore, you should be aware of the potential risks associated with this financial practice:

  • Since the process requires you to share your personal information on the platform, there is a possibility of cybersecurity risk and potential misuse of your data. 
  • Variable interest rates based on credit score.
  • If your loan request does not attract enough interest from investors, you may not be able to secure your desired loan amount through the platform.
  • Potential conflicts with lenders since P2P lending involves multiple lenders, causing delays or funding withdrawal.

For Lenders

As a lender, you also need to consider several risks before participating in P2P lending:

  • Cybersecurity risks.
  • High non-repayment risk. Diversifying your investments across multiple borrowers can help mitigate this risk.
  • P2P loans can be illiquid, making it difficult to sell your investment or withdraw funds quickly if needed.
  • Potential loss of returns, particularly if borrowers default on their loans.
  • Risk of fraudulent applications. As a P2P lender, it’s important to conduct thorough due diligence and be cautious of potentially fraudulent loan applications.

P2P Lending vs. Personal Loans

Comparison FactorsP2P LendingPersonal Loans
Loan ProvidersBorrowing from individual lenders/investors via online platforms.Provided by licensed financial institutions or banks.
Eligibility and Interest RatesMore lenient eligibility criteria. Interest rates are based on the borrower’s profile.Strict income and creditworthiness standards. Competitive interest rates.
Loan Amounts and Repayment TermsVariable loan amounts and flexible repayment terms.Financial institutions or traditional bank loans typically amount to 4-6 times monthly income with a fixed repayment period.
Approval Time and SecurityFaster approval process but potentially less robust security measures.Longer approval times but better security due to bank regulations.
Additional FeesService fees for using the platform.Potential prepayment and late payment fees.

Read Also: Best Wealth Management Firms in Singapore & Best Business Bank Account


P2P lending in Singapore offers a flexible and inclusive alternative for both borrowers, particularly SMEs, and investors seeking diversified portfolios. This fintech-driven approach provides accessible funding with potentially lucrative returns, characterized by its quick access to funds, flexible terms, and simpler documentation. 

Key Takeaways

  • P2P lending platforms provide an opportunity for small businesses and entrepreneurs who may not be eligible for traditional loans. 
  • The Monetary Authority of Singapore (MAS) issues digital bank licenses, allowing technology firms and non-banks in various sectors, including P2P lending, to offer banking services.
  • P2P lending in Singapore offers a unique blend of investment attributes, making it a favorable choice for those who seek higher returns while diversifying their investment portfolios.

Quickly get out of a tough financial situation with the help of 1 Fullerton Credit. One of the top licensed moneylenders in Singapore, 1 Fullerton Credit offers fast approval business loan, with processes as quick as 30 minutes! Request a quote today.

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