P2P Lending Platform SeedIn Rebrands to BRDGE, Plans Expansion Into Indonesiaby Fintech News Singapore October 26, 2020
Singapore-based P2P investment network SeedIn has announced its rebranding to BRDGE.
With the rebranding, BRDGE aims to better reflect the company’s mission to serve Singapore’s small and medium enterprises (SMEs) not just through financial support but with the long-term aim of providing the public with opportunities to support local businesses.
The announcement comes after BRDGE’s recent MOU signing with V3 Fintech looking to enhance the suite of liquidity solutions available to SMEs, and help to create awareness among SME communities on innovative ways to address liquidity challenges and funding gaps.
SMEs in general are much more sensitive to economic headwinds due to increased competition, fluctuating market demands, technological advances, and capacity constraints surrounding information, innovation and creativity.
However, these enterprises make up the bulk of Singapore’s economic success, contributing to nearly half of the country’s GDP and providing jobs for about 65% of the workforce.
Kevin Wong, CEO of BRDGE, said,
“Rebranding has allowed us to stay committed to our mission of serving as many SMEs as possible. It has also enabled us to grow Singapore’s fintech ecosystem by providing additional financing solutions to businesses seeking more options in funding, so that they can seize more opportunities for growth. 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.”
Since 2014, BRDGE is said to have helped fund over SGD72 million in capital to Singaporean SMEs.
BRDGE had also collaborated with media and technology marketing agency Unravel Studios for the #KEEPUPTHEGOOD initiative. The partnership was intended to help tide SMEs through this period, by providing resources to help them continue.
SMEs who receive funding will also be provided with complimentary support for one month to fulfill their marketing objectives.
BRDGE has also been actively connecting SMEs to opportunities and initiatives beyond funding, such as organising WeConnect, a networking event for SMEs to develop partnerships and engage one another.
Moving forward, BRDGE has also announced intentions to expand operations into Indonesia and is currently in the process of securing regulatory permission from the relevant authorities.