Rebranding exercise aims to better harness the Kampung Spirit of Singaporeans supporting their favourite local businesses

SINGAPORE - Media OutReach - 27 October 2020 -Singapore-based peer-to-peer (P2P) investment network SeedIn today announcedits rebranding to BRDGE. With therebranding, BRDGE will be able to better reflect the company's mission to serveSingapore's small and medium enterprises (SMEs) not just through financialsupport but with the long-term aim of providing the public with numerousopportunities to support their favourite local businesses.

The announcement comes after BRDGE's recent MOU signing with V3 Fintech,a unit of V3 Group which develops digital and financial technology. Otherpartners include local cybersecurity and fintech firms including ISTARIInternational, Ensign Infosecurity, and Auto-Wealth. V3 Fintech is additionallypart of the Beyond consortium, one of the bidders for Singapore's digital fullbank license. Under the MOU, BRDGE will collaborate with V3 Fintech to enhancethe suite of liquidity solutions available to SMEs, and help to createawareness among SME communities on innovative ways to address liquiditychallenges and funding gaps.

SMEs in general are much more sensitive toeconomic headwinds due to increased competition, fluctuating market demands,technological advances, and capacity constraints surrounding information,innovation and creativity. However, these enterprises make up the bulk ofSingapore's economic success, contributing to nearly half of the country's GDPand providing jobs for about 65% of the workforce.

KevinWong, CEO ofBRDGE, said, "As an SME ourselves, we are acutely aware of the day-to-daychallenges that SMEs face in terms of accessibility to credit and mobility inpivoting to alternate business models. Rebranding has allowed us to stay committed to our mission ofserving as many SMEs as possible. It has also enabled us to grow Singapore'sfintech ecosystem by providing additional financing solutions tobusinesses seeking more options in funding, so that they can seize moreopportunities for growth. Wehope to take digital financing further, and to become not just anothercrowdfunding platform, but one that is able to exhibit foresight and buildtrust to help fellow local businesses and entrepreneurs grow."

ATrusted Platform and Community

Since 2014, BRDGE has helped fund over SGD72million in capital to Singaporean SMEs. Its proprietary credit scoringsystem  and community spirit of BRDGE'smembers has earned it positive accolades and endorsements from investors andbusinesses alike.

Through BRDGE, the application process for SMEsto obtain credit for short-term financing to grow their business has beensimplified, providing greater access to both businesses as well as investorslooking for short-term investment deals. The company also helps structureloans, ensuring that businesses are able to explore greater options to managetheir cash flow and long-term sustainability, even during unprecedentedperiods.

This flexibility has allowed SMEsin BRDGE's portfolio, such as F&B businesses Outbar, Harivenikas, and events manager Dreamland Productions to tide through the difficulties brought onfrom the Covid-19 control measures enacted earlier this year, until theregulations were gradually relaxed, allowing businesses to resume normaloperations. Additionally, the ability to avoid any penalties incurred fromearly repayment of loans, such as in the case of F&B business Atas Food, remains an attractive optionfor SMEs especially in times when companies have to be stringent with theirfinancial discipline.

Benefitting Local Businesses with #KEEPUPTHEGOODand WeConnect

SMEs today are facing additional financialdifficulties due to Covid-19, with many businesses struggling due to a lack ofincome. #KEEPUPTHEGOOD, an initiative by BRDGE and media and technologymarketing agency Unravel Studios, aims to help tide SMEs through this period,by providing resources to help them continue to contribute to Singapore'seconomy and sustain livelihoods.

Being an SME, BRDGE understands that besidessecuring funding, it is also important to maximise the use of the funds,especially during challenging periods. Through this partnership, SMEs whoreceive funding will also be provided with complimentary support for one monthto fulfil their marketing objectives.

BRDGE has also been actively connecting SMEs toopportunities and initiatives beyond funding, such as organising WeConnect, anetworking event for SMEs to develop partnerships and engage one another.

Expansioninto Indonesia

Moving forward, BRDGE has also announced intentionsto expand operations into Indonesia and is currently in the process of securingregulatory permission from the relevant authorities.

This move represents BRDGE's continuedcommitment to support SMEs both locally and regionally by bridging gaps betweenthe companies and investors in their respective countries, and is part ofBRDGE's vision to benefit underserved SME markets by building businesses,creating jobs and stimulating economies.

For more information on BRDGE, visit www.brdge.tech.

About BRDGE

BRDGE is a MAS-licensed P2P lending platform with a Capital MarketService license (CMS100642-2). It has been around since 2014 and is part of thepioneer batch of homegrown P2P lending platforms.

BRDGE is founded by entrepreneurs, for entrepreneurs. Since itsinception, BRDGE has facilitated over SGD $72,022,115 worth of loans and hasreceived positive reviews and endorsements from its partners, investors.

BRDGE has worked tirelessly to gain the trust of investors and SMEsalike. Its reputation forms the foundation of BRDGE and and over the past 6years of operation and counting, it has dedicated a big part of our work tobuilding honest relationships.

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