DBS teams up with two peer-to-peer lending sites to widen funding options for SMEs

It’s the first partnership of its kind.

Singapore’s largest bank has inked with peer-to-peer (p2p) lending platforms Funding Societies and MoolahSense to expand funding sources available to small businesses.

Under the partnership, DBS can refer some of the smaller businesses that the bank is unable to lend to, to Funding Societies and MoolahSense.

In exchange, both platforms will refer borrowers who have completed two successful rounds of fund raising to DBS for larger commercial loans and other financial solutions such as cash management. All lenders will only share information when they have obtained borrowers’ consent in advance.

“DBS’ partnership with Funding Societies and MoolahSense is a good example of how traditional and alternative finance providers can work together to support the funding needs of small businesses,” said Joyce Tee, Group Head of SME Banking, DBS.