Crowdfunding platform catches on

When it launched its platform in June last year, for example, Funding Societies helped raise about $300,000 for its SME clients in the first month. By year end, it had crowdfunded about $3 million. 
It could grow even faster, if not for its stringent assessment of all potential borrowers: only about 15 per cent of the SMEs that come knocking on its door get approval to raise funds on the platform.