SeedIn is a decent P2P investment platform, which provides investors access to short-term investments in SMEs across Asia Pacific, including Singapore, Cambodia, Taiwan and the Philippines. The platform's fee structure is competitive; however it lacks investment opportunities longer than one year and features a much more complicated application than its competitors, rendering it a less than ideal experience for all investors. Still, the fact that SeedIn offers the second largest financing opportunities (up to S$5 million) investments in secured and unsecured business loans, makes it appealing to some investors.
|Summary of SeedIn's Investment Platform|
|Competitive Fee Structure: 15% of interest earned|
|Platform allows investments as large as S$5 million|
|Secured investments available|
Table of Contents
- What Makes SeedIn Stand Out to Investors
- SeedIn Recent Performance
- SeedIn Investor Eligibility Requirements
What Makes SeedIn (formerly New Union) Stand Out to Investors
SeedIn charges investors a lower fee than many of its competitors at 15% on all interest received. Additionally, the platform has provides short-term (1-12 months) loans as large as S$2 million and allows for deals as large as S$5 million. This indicates that investors will have access to large scale investment opportunities. Finally, SeedIn is one of two crowdfunding investing platforms that offers secured and unsecured investment opportunities. Secured business loans are backed by borrowers' collateral, meaning the borrower has provided an asset that it can sell to repay lenders in case of default. Because of this, secured loans may be attractive for risk averse investors.
However, investors seeking longer-term opportunities may be disappointed in SeedIn's offerings, as the platform does not provide financing longer than one year. Short-term investments may present extra hassle due to the more frequent reinvestment process. Additionally, the application process, which includes significant documentation and a suitability test, appears to be more burdensome than other P2P/Crowdfunding investment platforms.
|Total Deal Amounts||Up to S$5 million|
|Investment Durations:||1 - 12 months|
|Investor fee:||15% on repaid interest|
|Security:||Unsecured or secured against invoices/collateral|
SeedIn P2P Lending Platform Recent Performance
SeedIn has delivered impressive results in terms of its low default rates. From 2016 to 2018, the platform had zero non-performing loans (greater 90 days of non-payment). SeedIn's recent returns were slightly less impressive compared to its competitors; however, it is crucial to understand that past performance is not an indicator of future outcomes.
|Year||Weighted Average Annual Return||Non-Performing Loans (90+ days)|
SeedIn Investor Eligibility Requirements
Individual and corporate investors are eligible to invest with SeedIn. Individual investors must be at least 18 years old, a Singapore citizen or permanent resident (with employment, dependent, or student pass), have a mobile phone number, and a have a local or foreign qualifying bank account. Registration may take up to 3 days. Corporate investors must be incorporated in Singapore, have a mobile phone number and a have a local or foreign qualifying bank account. Additionally, SeedIn requires that potential investors take a suitability assessment test to ensure that they understand the risks of investing.
|Singapore Requirement||18+ years old Singapore citizen or permanent resident||Incorporated in Singapore|
|Phone||Must have mobile number||Must have mobile number|
|Bank Account||Local or foreign qualifying full bank||Local or foreign qualifying full bank|
Individual investors must submit proof of identity (NRIC identity card or passport) and residence (utility/phone/internet bill, bank statement, etc.). Corporate investors must submit certified true copy of the Limited Liability Partnership agreement or Memorandum and Articles of Association, proof of identity and residential address of directors/partners/managing partners, and proof of local trading address dated within the last six months.