SINGAPORE (Dec 8): Crowdlending platform New Union has been awarded the full Capital Markets Service license (CMS) by the Monetary Authority of Singapore (MAS), and announced a potential deal flow pipeline of about $2 million to be launched soon.
Founded in 2013, New Union is one of the first and largest debt-based crowdfunding platforms in Singapore, raising $2.6 billion for small and medium enterprises (SMEs) in Singapore, China, Taiwan, Cambodia and the Philippines to date.
“This is a watershed milestone for New Union. Singapore is known within the region for her stringent regulatory standards and for being a globally leading financial hub. Being accreditated by the MAS lends us credibility as we continue to embark on our growth quest to connect the Asean markets, creating a “New Union” for new-age SME financing,” says Eddie Lee, co-founder and CEO of New Union.