Top 5 P2P Lending Platforms in Singapore for 2024

In Singapore, SMEs face financial challenges, particularly with cash flow and inflation, which was at 4% in August. A survey by Bibby Financial Services revealed that over half of the SMEs in Singapore are primarily concerned about inflation. 

In response, peer-to-peer (P2P) lending platforms have become a crucial alternative for businesses struggling to get bank loans, supporting those needing funds or lacking substantial financial records. These platforms, including partnerships by DBS with Funding Societies and Moolahsense, are becoming increasingly popular, offering a new way for SMEs to access financing. 

Our 2024 guide explores Singapore’s leading P2P lending platforms, highlighting their impact on SME financing, advantages, disadvantages, and how they differ from traditional bank loans.

What is P2P Lending?

Peer-to-peer (P2P) lending enables direct financial transactions between individuals, bypassing traditional banking intermediaries. 

According to Investopedia, this model not only streamlines the lending process but also democratizes access to finance, making it a popular alternative financing method.

Online P2P lending platforms have significantly contributed to the widespread adoption of this financing method. By offering a user-friendly interface, these platforms simplify the process of lending and borrowing, making it accessible to a wider audience. 

Rest assured that the Monetary Authority of Singapore (MAS) oversees its regulation, guaranteeing a well-defined framework for borrowers and lenders alike. To function, these platforms must adhere to strict regulatory standards, offering a safe setting for your financial transactions.

How P2P Platforms Work

P2P platforms are the technological backbone of this lending model, providing a secure online environment for transactions. Here’s how they facilitate the lending process:

1. Application: Borrowers fill out an online loan application on the P2P platform.
2. Evaluation: The platform evaluates the application, assigning a risk and credit score, and sets an interest rate.
3. Lender Terms: The lender will provide a contract with their loan terms, including the loan amount, interest rate, and tenure. The terms are tailored to the borrower’s creditworthiness.
4. Choosing the Best Offer: Borrowers review and select the most suitable offer.
5. Borrower Receives Money: After signing the contract, the borrower will receive the money through electronic wire transfer.
6. Borrower Makes Payment: Commitment to regular (often monthly) repayments is required from the borrower.

Pros and Cons of P2P Lending


In a Business Insider article, Johannes Larsson, CEO of, a website for loan and financial product comparison, remarked, “The recent buzz around decentralized finance shows us the growth potential of peer-to-peer lending. I expect it to not only become more popular in the future but also become the norm one day, as society slowly but surely moves toward decentralization.” 

Larsson’s statement underscores the anticipated rise and eventual mainstream acceptance of peer-to-peer lending, driven by the ongoing shift towards a decentralized financial landscape.

For Borrowers:

  • Affordable Rates: P2P lending often offers more competitive interest rates compared to traditional banks or any financial institution, making loans more affordable for borrowers.
  • Flexibility: Borrowers benefit from flexible loan terms, allowing them to choose options that best suit their financial situation.
  • Quick Access to Funds: The streamlined online process enables faster loan approval and access to funds, essential for urgent financial needs.

For Lenders:

  • Investment Diversification: Lenders can diversify their investment portfolios beyond traditional stocks and bonds by lending through P2P platforms.
  • Potential for Lucrative Returns: P2P lending offers investors the chance to earn higher returns compared to traditional savings and investment options.
  • Startup Scene Participation: Lenders get the unique opportunity to invest in startups and small businesses, supporting innovation and entrepreneurship.

Risks of P2P Lending for Both Parties

  • Security Concerns and Cybersecurity Risks: Both lenders and borrowers face the risk of cyber threats, with personal and financial information potentially exposed to hacking and fraud.
  • Impact of Interest Rates: Interest rate fluctuations can affect the attractiveness and cost of P2P loans, impacting both parties.
  • Loan Defaults: The absence of traditional banking safeguards increases the risk of loan defaults, potentially leading to financial losses for lenders.

Top P2P Lending 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%
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.



BRDGE represents a leading edge in Singapore’s P2P lending, emphasizing a seamless connection between borrowers and lenders. This MAS-licensed digital platform presents enticing annual returns for investors between 5-17%, after deducting fees, and enables investment starting at just S$500. It offers a variety of investment durations from 3 to 24 months and is acclaimed for its easy-to-use interface and streamlined investment procedure.

Kevin Wong, CEO of BRDGE, said, “We hope to take digital financing further, and to become not just another crowdfunding platform, but one that is able to exhibit foresight and build trust to help fellow local businesses and entrepreneurs grow.”

Top Features:

  • User-friendly interface for easy loan application and investment management.
  • Competitive interest rates for both borrowers and investors.
  • Robust risk assessment to ensure quality investments.

Reviews: 4.1 stars | 251 Seedly Reviews

“Have been using this platform for 3 years. So far the deals they offer are quite good. Would recommend others to use”Lucas Ng

2. Funding Societies

Funding Societies

Funding Societies stands out as Southeast Asia’s largest P2P lending platform, offering a wide range of financial products tailored to SMEs. As of December 2020, Funding Societies has financed over S$1.95 billion in loans. Its easy online application and fast approval process make for a smooth user experience. Offering micro and term loans with 8% to 18% annual interest rates, the platform allows investments starting at S$20.

Top 3 Features:

  • Diverse loan products, including invoice financing and business term loans.
  • Enables investors to start with a small amount, democratizing access to investment opportunities.
  • Strong track record of high investment returns with minimized risks.

Reviews: 3.2 stars | 71 Google Reviews

“Seamless way to invest in relatively risk-free debt instruments. I’m beginning to see more crowd-funding opportunities lately, which is ideal for me to park cash and get that 5 to 8% pa in a safe environment! Beats putting my cash into a bank deposit account!”John Adams

3. Minterest


Minterest brings together borrowers and investors through an innovative platform that prioritizes transparency and fairness. The platform levies a 15% fee on earned interest and maintains low default rates, usually 0%-1.62%. It mainly provides short-term investments (up to 12 months) in corporate finance and real estate, distinguishing itself with high-quality assets and 88% of deals funded within a day.

Top 3 Features:

  • Customized investment opportunities tailored to individual investor profiles.
  • Comprehensive borrower assessment for reduced default risks.
  • Real-time monitoring and reporting tools for investors.

Review: 4.5 stars | 61 Seedly Reviews

“For those looking to diversify portfolios for investment, it’s a good place to start from bite-sized amounts. The platform also lets investors diversify their portfolio with institutional-grade real estate and corporate investment. Lots of options!”Jan Jee

4. Validus


Validus is a prominent P2P lending platform in Singapore that caters to the financing needs of SMEs by connecting them with individual and institutional investors. It harnesses the power of data analytics and machine learning to offer smarter financing solutions, making it easier for businesses to grow and for investors to find rewarding opportunities. 

Validus serves multiple Southeast Asian markets, providing up to S$150,000 in short-term, unsecured loans. It facilitates growth funding for SMEs and allows investors to begin with portfolios starting at S$50,000.

Top 3 Features:

  • Advanced credit scoring system leveraging data analytics and AI for accurate risk assessment.
  • Wide range of loan products to meet diverse SME needs, including working capital and invoice financing.
  • Comprehensive regulatory compliance and robust security measures to protect all parties involved.

Reviews: 4.6 stars | 20 Google Reviews

“Fast approvals and really low rates for repeat SME borrowers.” Roy Chua

5. Crowd Genie Financial Services

Crowd Genie Financial Services

Crowd Genie is a MAS-licensed P2P lending platform that connects SMEs with investors, offering a straightforward path to financing. It champions a community-focused approach to lending, emphasizing ethical investment and borrower support.

Akshay Mehra, CEO of Crowd Genie Financial Services, told The Silicon Review, “We’ve heavily invested in ensuring our credit assessments, regulatory approvals, and customer yields remain top-notch in our industry.”

Top 3 Features:

  • Focuses on loans secured by tangible assets, offering an added layer of security for investors.
  • Allows investors to choose specific businesses they wish to fund.
  • A secure platform with advanced encryption for data protection.

P2P Lending vs. Personal Loans: A Comparative Analysis

FeatureP2P Lending with a FinTech CompanyPersonal Loans with a Bank or Financial Institution
ProvidersOnline platforms connecting borrowers with individual/institutional investors.Banks and licensed financial institutions.
Eligibility CriteriaVaries by platform; often includes credit score, financial history, and purpose of the loan.Strict credit score requirements, employment history, and income level.
Interest RatesCompetitive rates are determined by borrower risk profile and market conditions.Fixed rates, often higher, are determined by the bank based on creditworthiness.
Loan AmountsFlexible, depending on the platform and investor appetite.Predetermined by the bank, based on the borrower’s creditworthiness and income.
Disbursement TimeCan be quick, sometimes within a few days after approval.May take longer, from a few days to weeks, after approval.
Repayment TermsFlexible, with the possibility to negotiate terms on some platforms.Fixed terms set by the bank.
Early Repayment Penalties Often minimal or non-existent, encourages borrowers to pay off their loans ahead of scheduleFrequently come with early repayment fees
Security & RegulationSubject to the platform’s security measures; regulatory oversight varies.Highly regulated with stringent security protocols.

Benefits and Drawbacks

P2P Lending:


  • Potentially lower interest rates for borrowers with good credit.
  • More flexible eligibility criteria, accommodating a broader range of borrowers.
  • Investment opportunities for individuals looking to diversify.


  • Risk of default for investors, as loans are unsecured.
  • Less regulation compared to traditional banking, posing potential risks.

Personal Loans:


  • Fixed interest rates provide predictability in repayments.
  • Strong regulatory protection for borrowers.
  • Higher loan amounts for qualified borrowers.


  • Stricter eligibility criteria, limiting access for those with lower credit scores.
  • Potentially higher interest rates compared to P2P lending options.
  • Less flexibility in loan terms and conditions.

Enhancing Your Financial Strategy with P2P Lending

P2P lending can be a strategic component of a diversified financial portfolio, offering both borrowers and investors unique opportunities. 

For borrowers, it’s a way to access funds at competitive rates. For investors, it presents a chance to achieve potentially higher returns compared to traditional savings or investment vehicles. 

Integrating P2P lending involves assessing your financial goals, risk tolerance, and the role of alternative investments in achieving a balanced financial strategy.

Tips for Borrowers

  • Improve Your Credit Score: A higher credit score can help secure the desired loan amount at a lower interest rate. Pay off existing debts and ensure your credit report is accurate.
  • Shop Around: Don’t settle for the first offer. Compare rates and terms across different P2P platforms to find the best deal.
  • Understand the Terms: Be clear about repayment schedules, interest rates, and any fees involved to avoid surprises.

Tips for Lenders

  • Diversify Your Investments: Spread your investments across multiple loans to minimize risk. Don’t put all your eggs in one basket.
  • Research Borrowers: Look into borrowers’ credit scores, financial history, and the purpose of their loans to assess risk.
  • Stay Informed: Keep up with market trends and regulatory changes that could impact the P2P lending landscape and your investments.

Emerging Trends in P2P Lending

Blockchain Technology

The integration of blockchain technology in P2P lending is revolutionizing the industry by enhancing transparency and security. According to a study by California State University, Blockchain’s decentralized nature means every transaction is recorded in a way that’s nearly impossible to alter, reducing fraud and ensuring integrity. For borrowers and investors, this translates to increased trust and smoother transactions.

AI in Credit Scoring

Artificial Intelligence (AI) is transforming credit scoring with more accurate and inclusive assessments. Unlike traditional models, AI can analyze vast amounts of data, including non-traditional data points, to predict repayment behaviors more accurately. This innovation opens up borrowing opportunities for those previously excluded due to lack of history or unconventional financial backgrounds.

These emerging trends are setting the stage for a more secure, efficient, and inclusive P2P lending ecosystem, offering promising benefits for both borrowers and investors in the evolving financial landscape.

Final Word

P2P lending in Singapore offers flexible financing and high-return investment opportunities. It brings risks requiring careful consideration alongside its benefits. Understanding P2P lending can open new financial opportunities beyond what traditional financial institutions may offer.

Key Takeaways:

  • Diversification is key for investors. Spread investments across various loans to reduce P2P lending risks and stabilize returns.
  • With P2P lending, borrowers can access competitive rates. Improve credit scores and compare platforms for affordable P2P loan rates.
  • Be mindful of cybersecurity, default risks, and interest rate changes in P2P lending.

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