MoolahSense Singapore Empowers Profitable Sustainability by Launching GreenMoolah to Support SMEs

SINGAPORE – Media OutReach -
8 November 2021 – MoolahSense announces the launch of GreenMoolah, a platform focused
on accelerating green and sustainable financing in Singapore and the region. With
a large number of government-linked and large corporations in the region
embarking on achieving net zero emissions by 2030, regional and local
authorities including businesses are scaling up their efforts to support the
reduction of emissions. This has created a global demand for green and sustainable
financing. However, access to affordable loans remains the key challenge for
SMEs today.

The GreenMoolah Platform

The goal of GreenMoolah
is to provide a crowdfunding platform to assist SMEs who have been left out to
understand and embark on projects within the ESG framework, as well as to showcase
to investors on how sustainable financing can be profitable. This not only
provides positive contributions to the environment, but also helps investors to
embrace the idea of sustainable financing. Such efforts are consistent with
commitments under the Singapore Green Plan 2030 to advance Singapore’s national
agenda on sustainable development, and places emphasis on the importance of
driving high-integrity green finance.

Ms Melissa Tan, CEO
of Wah & Hua Pte Ltd and the Chairman for the Waste Management and
Recycling Association of Singapore said, “With over 70 million Small and Medium
Enterprises (SMEs) within the Southeast Asia region and accounting for over 140
million employees, there is an increasing need for businesses to adopt
sustainable business models. However, with limitations of financing from
traditional banks, these SMEs are facing challenges to transform and accelerate
their businesses. In the long term, this will affect the sustainability of
business and even the livelihood of their employees. The pressure is more
evident in the current pandemic where businesses are forced to shut down. Hence,
riding on the peer-to-peer lending concept, this platform could help SMEs who are
unable to meet the traditional banks financing criteria.”

Leveraging on the
GreenTrust Framework, a digital utility spearheaded by MoolahSense as the key
underlying technology for interoperability and verification, end-to-end
financing for SMEs on the GreenMoolah platform can be instantly authenticated,
digitally processed and provenance tracing obtained simply by scanning a QR
code that’s embedded into the Digital Certificates.

“I believe that
most SME owners will want to play their part in the efforts towards
sustainability. However, as business owners, their primary focus would be on profitability.
With limited resources in both manpower and finance, and insufficient related
experience, it makes embarking on transformation even more challenging for
them. Through MoolahSense, the green framework we have developed and in the
near future digitalized with the use of technology like blockchain and IOT, it
makes understanding assessments and reporting easier” said Andrew Quek,
Investment Director of MoolahSense.

In addition to
the ease of application for crowdfunding towards sustainable projects, the
introduction of the GreenMoolah platform aims to facilitate the adoption of
more sustainable projects within a society. With its integration and
digitalization processes, GreenMoolah is able to reduce the steps needed for
applications and at the same time, educate businesses owners on an easy to
adopt and transparent process, so that they are able to return and use the
GreenMoolah platform in the future.