Validus is an online aggregator platform for SMEs to secure short term and medium term financing. As a Peer‐to‐Business lending marketplace, Validus is using technology to minimise the cost of financial intermediation, and passing the benefits to society. Validus asked Steward Redqueen to quantify these benefits to society.
Making use of Steward Redqueen’s propietary impact methodology, we helped to quantify how peer-to-SME financing spurred economic growth and development in Singapore. By empowering SMEs through accessible financing, there was a considerable impact in GDP creation, and job growth across these SMEs in Singapore. Respectively, SMEs linked to Validus grew revenues by 18% and supported GDP and job growth by 18% and 12%, which was much higher than the overall GDP growth and labour force growth in Singapore.
Through this report, we highlighted the financing challenges SMEs currently face, brought greater awareness on alternative credit sources available to help fuel SME growth and foster ecosystem collaboration.
The full economic impact report can be found here: https://validus.sg/economic-impact-study-2019/