Strategic Alliance - Bridgeway Prime Shop Fund Management Ltd x MoneySQ.com
Hong Kong’s First-of-its-kind P2P Crowdfunding Platform for Professional Investors
Legal P2P Crowdfunding Platform ． Stable & Recurrent Return
Fintech P2P Development Opportunities in Hong Kong
Founders of both Bridgeway and MoneySQ.com believe Hong Kong now offers a salient environment for Fintech innovation. A sound regulatory environment, world-class business infrastructure, and relative ease of capital inflow and outflow, now coupled with strong government initiatives and clarity in the regulatory framework, will help accelerate innovation in this space. While some view “professional investors only” as potentially too restrictive, as we have seen too often in history, prudent measures that strike a balance between market growth and investor protection is key to maintaining sustainable, long-term growth. Hong Kong presents vast market opportunity for P2P lending, with over 130K professional investors, holding 5.5 trillion assets in aggregate, of which about 20% are held in cash of its equivalents. In times of volatile securities market and uncertain economic outlook, P2P lending presents an alternative investment opportunity for professional investors to obtain stable, recurrent return.
Alliance to create New Synergy
With a Type 9 license (asset management), Bridgeway is licensed to operate collective investment scheme (“CIS”) and to accept funding from professional investors, while MoneySQ.com’’s management team possesses over 20 years of experience in money lending, as backed by Konew Credit Corporation. The alliance of Bridgeway and MoneySQ.com unleashes new synergy - for the first time in Hong Kong, qualified investors in P2P lending platform faces product orignator which is subject to SFC regulation, while the underlying loans are subject to risk control of a licensed money lender, MoneySQ.com, whose management team has vast experience in risk management and borrowers’ pipeline acquisition.
How it works?
Through Bridgeway, professional investors can start investing with as little as HKD 100K for a 12-month holding period in return for stable, recurrent investment targeted return of over 5%, which is over 30 times the interest rate of 0.15% for one-year time deposit at HSBC. To further enhance investor protection, MoneySQ.com has partnered with TransUnion to adopt their risk control system and big data analysis. Bridgeway targets to raise HKD 100 - 200 mn in the coming two months, and more within a year from thereon. Founder of Bridgeway, Dr. Edwin Lee commented,,"as P2P lending in the Hong Kong market is new to many, both professional investors and borrowers need time to understand our product and how Fintech works. We hope what we do now can help educate the market about P2P crowdfunding and its risks and return analysis." Founder and CEO of MoneySQ.com, Steven Lee added, "there is no other P2P lending platform in the market I know of that offers guaranteed return on investment on P2P money lending as is the case here. This is a reflection of both management commitment and our conviction in the core strength of both companies that is unique in this marketplace. We target to reach 10,000 members within one year, and loan size is expected to range from HKD 5,000 to HKD 100,000."
A Positive Step Towards Making Hong Kong a leader in FinTech Development
As a member of the Board of Directors of the Hong Kong Cyberport Management Company Ltd Company, Dr. Edwin Lee is well-versed in Fintech parlance. He views the "Report of the Steering Group on Financial Technology" as a making a positive step towards making Hong Kong as a Fintech hub. Dr. Edwin Lee explained, "if P2P crowdfunding platforms and their investment products are open to all investors without taking time to put in place prudent measures, Hong Kong may be susceptible to the risks as seen in the widespread collapse of P2P players in Mainland China, whereby about one-third of the P2P platforms were liquidated without notice. Such consequence could only hurt Hong Kong’s place as an international finance hub, not least the world’s leading FinTech Center. Thus, personally, I think current regulations on P2P crowdfunding platforms are more than fair."
Bridgeway serves only Professional Investors, which generally refer to individuals with liquid assets of HKD 8M, (or partnership, trust or corporate with a portfolio of not less than HKD 8 mm, or total asset of HKD 40M). The Bridgeway-MoneySQ.com platform is expected to be in full operation in April 2016.
About Bridgeway Prime Shop Fund Management Limited
Bridgeway Prime Shop Fund Management Limited is the first SFC-licensed firm in Hong Kong that focuses on prime shop investments. It holds SFC license for the following regulated activities and serves professional investors only: Type 1 (Dealing with securities), Type 4 (Advising on securities) and Type 9 (Asset management). Bridgeway and its founder Dr. Edwin Lee were twice featured in business case studies: "A Launching Pad for Entrepreneurs" and “The Dynamic of Innovative Entrepreneurship” by the University of Hong Kong in 2010 and 2012, respectively, are listed on the Harvard Business Review website.
Tel: 2830 1111