Local Business Crowdfunding Platform SeedIn Rebrands to BRDGE and Announces Planned Expansion Into Indonesia


Rebranding exercise aims to better harness the Kampung Spirit of Singaporeans supporting their favourite local businesses

 

SINGAPORE – Media OutReach – 27 October 2020 –
Singapore-based peer-to-peer (P2P) investment network SeedIn today announced
its rebranding to BRDGE. With the
rebranding, BRDGE will be able 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 numerous
opportunities to support their favourite local businesses.

 

The announcement comes after BRDGE’s recent MOU signing with V3 Fintech,
a unit of V3 Group which develops digital and financial technology. Other
partners include local cybersecurity and fintech firms including ISTARI
International, Ensign Infosecurity, and Auto-Wealth. V3 Fintech is additionally
part of the Beyond consortium, one of the bidders for Singapore’s digital full
bank license. Under the MOU, BRDGE will collaborate with V3 Fintech 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, “As an SME ourselves, we are acutely aware of the day-to-day
challenges that SMEs face in terms of accessibility to credit and mobility in
pivoting to alternate business models. 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.”

 

A
Trusted Platform and Community

Since 2014, BRDGE has helped fund over SGD72
million in capital to Singaporean SMEs. Its proprietary credit scoring
system  and community spirit of BRDGE’s
members has earned it positive accolades and endorsements from investors and
businesses alike.

 

Through BRDGE, the application process for SMEs
to obtain credit for short-term financing to grow their business has been
simplified, providing greater access to both businesses as well as investors
looking for short-term investment deals. The company also helps structure
loans, ensuring that businesses are able to explore greater options to manage
their cash flow and long-term sustainability, even during unprecedented
periods.

 

This flexibility has allowed SMEs
in BRDGE’s portfolio, such as F&B businesses Outbar, Harivenikas, and events manager Dreamland Productions to tide through the difficulties brought on
from the Covid-19 control measures enacted earlier this year, until the
regulations were gradually relaxed, allowing businesses to resume normal
operations. Additionally, the ability to avoid any penalties incurred from
early repayment of loans, such as in the case of F&B business Atas Food, remains an attractive option
for SMEs especially in times when companies have to be stringent with their
financial discipline.

 

 

Benefitting Local Businesses with #KEEPUPTHEGOOD
and WeConnect

SMEs today are facing additional financial
difficulties due to Covid-19, with many businesses struggling due to a lack of
income. #KEEPUPTHEGOOD, an initiative by BRDGE and media and technology
marketing agency Unravel Studios, aims to help tide SMEs through this period,
by providing resources to help them continue to contribute to Singapore’s
economy and sustain livelihoods.

 

Being an SME, BRDGE understands that besides
securing funding, it is also important to maximise the use of the funds,
especially during challenging periods. Through this partnership, SMEs who
receive funding will also be provided with complimentary support for one month
to fulfil 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.

 

Expansion
into Indonesia

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.

 

This move represents BRDGE’s continued
commitment to support SMEs both locally and regionally by bridging gaps between
the companies and investors in their respective countries, and is part of
BRDGE’s vision to benefit underserved SME markets by building businesses,
creating jobs and stimulating economies.

 

For more information on BRDGE, visit www.brdge.tech.

About BRDGE

BRDGE is a MAS-licensed P2P lending platform with a Capital Market
Service license (CMS100642-2). It has been around since 2014 and is part of the
pioneer batch of homegrown P2P lending platforms.

BRDGE is founded by entrepreneurs, for entrepreneurs. Since its
inception, BRDGE has facilitated over SGD $72,022,115 worth of loans and has
received positive reviews and endorsements from its partners, investors.

BRDGE has worked tirelessly to gain the trust of investors and SMEs
alike. Its reputation forms the foundation of BRDGE and and over the past 6
years of operation and counting, it has dedicated a big part of our work to
building honest relationships.

Follow
BRDGE on:

Facebook —  
www.facebook.com/brdgesg

Instagram — www.instagram.com/brdgesg

LinkedIn — www.linkedin.com/company/brdgesg

Telegram — t.me/brdgesg

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