- Debunking the myth of alternative financing
- Testimonial of how NICE successfully raises capital via SeedIn crowdfunding platform
- "SME Give Back" was launched
SINGAPORE - Media OutReach - 19 December 2018 - In today's business world, all businesses, be it big or small, faces the true world challenges and tribulations of raising cash flow for business expansion. NICE Supermart (NICE) is one such example.
At one point of time, NICE too faced the cash flow challenges, which resulted in many missed business opportunities. The idea of 'borrowing money' was previously seen as a taboo topic and having a dramatic impact on businesses looking to scale, whereas actually, the seeking of funds for business expansion is commonplace in businesses all over the world. Acknowledging that, Nice abandoned this negative stigma and decided to seek alternative financing.
Having known that SeedIn has been supporting SMEs over the years through alternative financing, Nice contacted Seedin and was subsequently successfully on-boarded to Seedin's platform after going through stringent credit risk assessment process. In addition, the crowdfunding campaign being 100% subscribed is a clear indication that Nice was fully supported by SeedIn's community.
Being a beneficiary of Seedin's crowdfunding campaign, NICE is grateful to the support it had received and wish to give back to the community. After much discussion with Seedin, "SME Give Back" campaign was launched.
Embracing this 'SME Give Back' campaign, NICE Supermart manager Mr Fabian Lee, said the thought behind the company's action was simple, "It's just a case of giving back to the community for their stamp of approval and overwhelming support. And truth be told, it was our first experience with the concept of crowdfunding. The reality of receiving funding support from a community was quite surreal. And we are grateful. " Mr Lee said.
The give back comes in various forms of deals and discounts specially curated by SeedIn and partnering SMEs. To show their appreciation for the support they received, the NICE Supermart products featured on SeedIn's App are at going for at least 30% discount.
Given the non-banking nature of crowdfunding and how it garners the support of society at large to provide financing to companies in general, SeedIn is poised to provide more exciting options and opportunities within the business and general community, bringing forth a new age of Singapore's "Kampung Spirit".