Smartfunding Awarded CMS Licence By Monetary Authority Of Singaporeby Company Announcement November 9, 2017
SmartFunding Pte. Ltd. has been granted the full Capital Markets Service Licence for Dealing in Securities by the MAS, effective from 3 November 2017.
The company launched its P2P lending platform in early 2016 and made its application to the MAS that same year.
The award of the CMS Licence enables SmartFunding to expand its offering from traditional invoice financing into a new asset class of SME loans, by applying a range of exemptions under the Securities and Futures Act. It also means that they have been fully validated as competent and capable in meeting the high regulatory standards of the MAS.
Damian Lally, the company’s Chief Executive, said:
“Much credit should go to our team for this exceptional achievement and we are very proud to have been accredited by the MAS at this level, since it helps to distinguish us from several other platforms operating in the space.
We now look forward to scaling up operations by assisting more SMEs to raise capital and manage their expansion plans, whilst simultaneously offering new and innovative opportunities to investors looking to diversify their portfolio. In this way, we can play our part in keeping the region’s wheels of industry turning.”