Fintech: First secondary market for P2P financing in Malaysia
Peoplender Sdn Bhd, the operator of peer-to-peer (P2P) financing platform Fundaztic.com, launched the country’s first secondary market for P2P financing on July 20. It allows the platform’s investors to cash out from their existing investments or to buy more notes to enhance their returns, says CEO Kristine Ng.
“It is the perfect time [to launch the secondary market]. Some investors need emergency funds in these tough times while others are looking to invest more in this high-yielding asset class amid the low interest rate environment,” she says.
The secondary market is important for investors as the average tenure of the investment notes hosted on the platform is 24 months, which is longer than the average tenure of those offered on other platforms. That means investors will only get their principal back after two years.