After the first email regarding my defaulted note in Fundaztic, I finally received an update after six months. So what’s the news? Bankruptcy notice In the email, it is stated that Sealed Judgement Order was obtained and served in early of the year. Fundaztic (Link) has instructed lawyers to file for bankruptcy notice in February. …
I installed this app on the same day as Funding Societies Malaysia app. I have known the existence of this app but did not find it necessary till I need it. Fundaztic mobile app is available on both Google Play Store and Apple App Store. I am using the Android version. Interface The interface is …
Although I knew about Funding Societies Malaysia mobile app for quite some time, I have only installed it recently as I prefer to use the website instead. Nonetheless, due to recent travelling, I need to have an alternative. Thus, I downloaded the app from Google Play Store and tried it. It is also available on …
This is an update to my December 2018 article about Defaulted Notes in Fundaztic. There are some changes that the platform made and new discovery that I found. New definition of default First, Fundaztic has reclassified defaulted note as a note that is 90 days past due, instead of 60 days as before. This reclassification …
Last month I have talked about management of defaults in Fundaztic. Now, I am going to talk about defaulted notes in Funding Societies. As on 15 January 2019, the default rate is 0.95% (Link). However, I have no direct experience regarding default on this platform yet. Classification of default Funding Societies classifies default according to …
For every loan made, there is always a risk of default. The default rate as on 14 December 2018 in Fundaztic is 2.28%. The amount involved is more than RM 750000 (Link). Recently, there is a note in my portfolio that has defaulted. By Fundaztic definition, a note is considered as default when the borrower misses …
Fundaztic (Link) is a peer-to-peer financing platform in Malaysia. This platform links borrowers (mainly local small and medium enterprises) and lenders together. Since this platform introduces so many notes per week, how should we choose? Grade of notes in Fundaztic Every loan is known as a note on this platform. The notes are rated according to 10 …
Funding Societies (Link) is one of two peer-to-peer financing platforms that I am actively using. The loans can be divided into business term financing and invoice financing. Every loan is known as an investment note on this platform. Investment notes properties The differences between the two types of financing have been explained in a previous post. To …
(Latest update: 10 November 2018) Fundaztic (Link) is a peer-to-peer (P2P) financing platform recognized by Securities Commission Malaysia. I have registered an account with this platform since 2017. Now, I would like to share my experience of using this platform. Interface Compared to Funding Societies Malaysia, the interface of Fundaztic looks plain. Nonetheless, it did undergo …
Funding Societies (Link) is one of the six peer-to-peer (P2P) financing platforms recognized by Securities Commission Malaysia. I have opened an account with this platform since 2017. Now, I would like to share my experience of using Funding Societies. Interface The interface underwent a major revamp and a few minor facelifts after I registered. Honestly, I …
