Fundaztic, a peer-to-peer (P2P) financing platform, is offering a total of RM5 million in financing to small and medium enterprises (SMEs) who wish to go solar in a collaboration between OpenSys Technologies Sdn Bhd, a subsidiary of OpenSys (M) Bhd, with Peoplender Sdn Bhd.
This would be Fundaztic’s first Go-Green initiative as a financing partner to strengthen its commitment to mitigate the impact of global warming and encourage more businesses to adopt eco-friendly and sustainable approaches to safeguard the environment.
The financing scheme will be available to all SME customers of buySolar who are looking for funding to purchase solar systems costing up to RM200,000 per SME. The funding will cover the system cost, NEM meter cost, installation and other related professional/installation costs.
Fundaztic, which is a Recognised Market Operator registered by the Securities Commission Malaysia (SC), will raise funds for the collateral-free term financing of up to 90 per cent of the final quotation amount using its online P2P platform. Successful buySolar customers will then make monthly repayments with interest to participating investors through Fundaztic until the end of their financing tenure.
Fundaztic CEO Calvin Foo says the partnership was in line with the platform’s initiative to support the sustainable energy industry and eco-friendly solutions that reduce carbon footprint and minimise the impact of climate change.
“With the ongoing global warming, it is best that we provide our support to platforms like buySolar which offers sustainable solutions that have a positive impact on our future.”
“This partnership with buySolar will not only further extend our initiative towards the sustainable energy industry but also raise awareness for Malaysian SMEs on the benefits for the environment while saving energy costs in the long-term. Additionally, this collaboration with buySolar can be the first step towards creating awareness for ESG investments among the Malaysian people,” he says.