Crowdfunding. Yay or Nay?
Hey guys, In my first blogpost, I am going to share my experience with crowdfunding with you! For those who aren’t familiar with the concept, Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people. Crowdfunding is a form of crowdsourcing and of alternative finance. In 2015, it was estimated that worldwide over US$34 billion was raised this way. I have personally invested through MoolahSense , a “Leading P2P lending platform” in Singapore. In Nov 2015, I invested a sum of money in a company called Jova Marine Services that had a healthy balance sheet, growing P&L statements and most importantly, promised 20%p.a. return in a year via monthly repayments. ( Sounds amazing right?) . But no. In the initial period, Jova made good on it’s loan, communicated with investors and was punctual with the repayment schedule and yeah, investors were smiling and everyone was havin’ a jolly goo...