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Singapore fintech start-up Crowdo has received a provisional capital market services licence from the Monetary Authority of Singapore (MAS) to offer both equity crowdfunding and peer to business (P2B) lending solutions in Singapore.

With this licence, it has become the leading crowdfunding outfit in the region, said co-founder and chief executive officer Leo Shimada.

Last year, the local start-up received a licence from the Malaysian banking regulator to start equity crowdfunding there. In March, Crowdo launched its P2B lending operations in Indonesia.

In a media statement, Mr Shimada said: "I see our multi-market licensing and operational presence as an invaluable competitive advantage in an increasingly crowded, yet nascent industry."

Looking ahead, Crowdo aims to expand into other countries in the region using funds it will raise. Other equity crowdfunding start-ups include Capbridge Capital which received its MAS licence last month.

Source: The Straits Times (published on 5 May 2016)

(AH)

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