Goldbell Launches Gen, An Investment Platform To Fuel Growth In Local Companies

By Author: Goldbell
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Goldbell announces the launch of their private debt investment platform, GEN. GEN (pronounced "ghern"), an acronym for Goldbell Evolution Network, is derived from the Chinese word “roots”, depicting stability like a tree with deep roots.The Platform allows investors an alternative investment opportunity into creditworthy local companies of their choice by tapping on Goldbell’s financial capabilities, domain knowledge and an extensive network of local businesses. To demonstrate confidence in its in-house credit assessment processes, Goldbell Financial Services will co-invest with investors, investing around30% of funding capital sought by a company seeking funding through the Platform.
The Platform is operated by Goldbell Evolution Network (GEN) Pte.Ltd., a subsidiary of Goldbell Financial Services.Companies seeking to raise funds through the GEN platform are to submit their interest throughapp.gen.sg/borrower. Annex A lists the details of how GEN works.

For a start, GEN will focus on loans that are secured by assets such as property and vehicles. Investment deals on GEN will indicate whether the loans are ...
... secured and what the underlying collateral is so that investors have clearer visibility on the risks involved. GEN aims to provide investors diversification in their investment portfoliosand seeks to offer yields in the range of 5 – 12% returns.
Goldbell started as a distributor of commercial vehicles in Singapore in the 1980s and developed into Singapore’s largest industrial vehicle distribution and leasing company, with a fleet size of up to 8,500 leasing vehicles in Singapore. Goldbell Financial Services was set up in 2015 to cater to the growing needs of their clientele and GEN was developed to stay abreast of financial developments in the market place.

“Businesses today need to harness technology and innovations and be inspiring contributors in an ever-changing market place. Our vision for GEN is to couple technology with our experience and domain knowledge in order to create unparalleled possibilities in financing – enabling an environment for the fulfilment of both investment and funding needs," says Alex Chua, CEO of Goldbell Financial Services.
“Goldbell wants to build a truly cohesive community of local business owners and investors who can create more opportunities for the future generations of Singapore and create a self-sufficient business-friendly ecosystem,"says Alex. “Investors who co-invest with us in GEN will be able to truly make a difference in the development of local brands, local stories and local histories.”
GEN obtained its capital markets services licence from the Monetary Authority of Singapore in May 2019. Law firm Baker McKenzie Wong &Leow assisted with the licence application and providing regulatory and compliance advice around licensing and the setting up of the Platform.