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SGX partners Crowdo and PwC to improve access to capital for Singapore startups

Nayela Deeba | March 31, 2017
The collaboration also includes mutually developing guidelines for the cross-referral of potential clients in the market.

investment piggy bank

The Singapore Exchange (SGX) has signed two separate Memorandum of Understandings (MOUs) with Crowdonomic Media (Crowdo) and PwC's Venture, to deepen its support for startups and early-stage small and medium-sized enterprises (SMEs).

Crowdo is a global peer-to-peer, lending and equity crowdfunding platform with operations across Singapore, Malaysia and Indonesia. The company has financed a total of 2,000 projects, and received a full Securities Crowdfunding Licence from Monetary Authority of Singapore (MAS).

Meanwhile, PwC's Venture Hub provides entrepreneurs opportunities to expand into their key markets through various in-house solutions and services.

The MOUs aim to raise awareness amongst SMEs and the investing community about the various opportunities and channels available for capital funding in Singapore. The collaboration also includes sharing information with SMEs, and mutually developing guidelines for the cross-referral of potential clients in the market.

"As a market operator, we believe our established infrastructure and network can support and improve access to capital for early-stage companies. We have been involved in the start-up and early stage SMEs space starting from our partnership with CapBridge, as well as the provision of depository services for FundedHere's proprietary bonds platform," said Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX.

Besides that, the partnership includes jointly promoting Singapore as an attractive ecosystem for startups, hosting regular dialogues to further develop leadership within the startup community, and raising awareness on the available opportunities and channels startups have to grow in the Asia Pacific region.

"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. This is great for startups and SMEs who will benefit from broader financing options and a seamless financing journey," said Leo Shimada, Co-Founder and CEO of Crowdo.

 "We are committed to playing an instrumental role in supporting Singapore's fast-growing startups. Important collaborations such as this will go a long way to build up the necessary skills and capabilities in entrepreneurs, thus helping to accelerate the growth and expansion of Singapore's start-ups, both at home and across the region," concluded Antony Eldridge, FinTech and Financial Services Leader, PwC Singapore.


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