Goldbell Financial Services Embarks On New FinTech Initiative With Crowdfunding Platform New Union
Partnership to Deliver Alternative Financing and Investment Solutions for SMEs and Retail Investors
By: Goldbell Group
Creating a dynamic Peer-to-Peer (P2P) FinTech eco-system that matches the financing needs of underserved SMEs with investors who are seeking out a more diversified and attractive pool of creditworthy investment options, this brings together GBFS's financial expertise in asset-backed lending and strong customer base with New Union's experience and reach in the Asian crowdfunding arena. Together, they will jointly develop a credit scoring system based on historical borrowing data and the borrower's digital footprints as well as securitisation of digital assets.
Integrating FinTech solutions as another capital access option in GBFS's extensive range of SME financing offerings, this union between traditional financial services and digital technology also brings a wealth of finance and credit risk experience, with the appointment of Goldbell's Chief Operational Officer Alex Chua as advisor to the board of New Union.
A strong advocate of technology and innovation, whose background in corporate finance includes that of being JP Morgan's South-east Asia's head of equity derivatives structured products, Mr Chua believes that providing alternative funding access is the game changer of growth. "Embracing the paradigm shift towards digital banking and the culture of innovation, we are excited about the tremendous value creating potential that this collaboration with New Union brings. Freed from the constraints of traditional banking regulations, underserved SME entrepreneurs will now be empowered to scale up fast and capitalise on market opportunities previously closed to them and realise their full business potential."
With a mission to connect GBFS's business worthy entrepreneurs with its regional community of investors, New Union, which has raised more than S$2.5 billion for SMEs across the region since its inception in 2013, draws from an impressive investment track record as one of Asia Pacific's fastest growing FinTech platforms with a presence across China, Taiwan, Cambodia and most recently Philippines.
Eddie Lee, Group CEO, New Union said, "New Union understands the challenges faced by SMEs and how financing can help them grow from good to great businesses. We believe that our collaboration with GBFS will allow us to identify more creditworthy companies and provide our investors with more crowdfunding options to augment their investment portfolios."
The new initiative will help businesses reach their full potential by reducing cash-flow gaps and enhancing capital growth at a lower cost of credit than other traditional alternative financing companies, and also within a shorter fund-processing period. It will also offer investors access to asset classed investment opportunities previously only available to institutions, with attractive risk adjusted annualised returns.
About Goldbell Financial Services Pte Ltd
Goldbell Financial Services ("GBFS") is part of Goldbell Group, Singapore's largest player in leasing and distribution of commercial and industrial vehicles. GBFS offers financing solutions for Singapore's SMEs and is the preferred financing partner in supporting Vehicle / COE Financing, floor stocking; equipment financing; accounts receivable financing / factoring; loans for industrial / commercial property and property development;
About New Union (Singapore) Investment Pte Ltd
Since its inception in 2013, New Union holds the aim of connecting local SMEs seeking short-term financing with investors interested in making short-term investments. A homegrown platform, it has raised more than S$2.5 billion in loans for SMEs across Asia Pacific. Over the past 4 years, it has also extended footprint into China, Taiwan, Cambodia and Philippines. New Union Singapore was awarded Full Capital Market Service License by the Monetary Authority of Singapore in 2017. For more information, please visit: https://www.newunion.sg/
About Goldbell Group
Goldbell Group is Singapore's largest player in leasing and distribution of commercial and industrial vehicles. Literally a driving force behind Singapore's growing economy, Goldbell has been providing industry-wide transport and logistic solutions –passenger and commercial vehicles, as well as material handling and aviation ground support vehicles and equipment – for nearly four decades. The company's diversified business portfolio operates under three main business pillars: Distribution, Leasing, and Financial Services, which deliver a suite of total business solutions (leasing, financing, aftersales service, spare parts, insurance, and equipment usage training, as well as fleet management services). For more information, please visit: http://www.goldbellgroup.com/
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