Singapore-based P2P lender changes name, plans expansion
Singapore-based peer-to-peer lending platform SeedIn has been renamed Bridge and plans to expand into Indonesia.
Bridge, which focuses primarily on supporting local small and medium-sized enterprises (SMEs), said the new name aims to better reflect its mission and goals.
According to Fintechnews Singapore, the platform is in the process of obtaining the relevant regulatory clearances to expand its operations in Indonesia.
Read more: Four Ways to Access the P2P Industry as a Retail Investor
“With our new identity as Bridge, we want to better reflect our core interest: to be the bridge where every investor and SME meet and enable everyone to grow,” the platform said in a blog post on its website.
The platform has helped fund over S $ 72million (£ 40.7million) of capital to Singapore-based SMEs since its launch in 2014.
Bridge helps businesses achieve their long-term goal of maintaining operations and provides businesses with a way to gain financial support.
The rebranding follows Bridge’s recent MoU with V3 Fintech to improve liquidity options for SMEs and help educate them on how to close funding gaps.
“The Covid-19 epidemic has caused many companies to grapple with deteriorating business conditions and liquidity shortages,” said Kevin Wong, Managing Director of Bridge.
“Our rebranding effort is to better reflect our mission to serve Singapore SMEs. “
Likewise, Robocash Group, which launched in Singapore last year, is considering a stock market float to expand to another country with the launch of a digital bank in the Philippines.