Fundaztic to fund solar initiatives


PEOPLENDER Sdn Bhd, which operates peer-to-peer (P2P) financing platform Fundaztic, has tied up with OpenSys Technologies Sdn Bhd to roll out its go-green financing initiative.

Fundaztic will be offering a total of RM5mil in financing to SMEs who wish to implement solar solutions via OpenSys Technologies’ buySolar platform.

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 company. The funding will cover the system cost, net energy metering (NEM) meter cost, installation and other related professional or installation costs.

Fundaztic will raise funds for the collateral-free term financing of up to 90% 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 chief executive officer Calvin Foo says the partnership was in line with the platform’s initiative to support the sustainable energy industry and eco-friendly solutions that reduces 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 towards 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 environmental, social and governance (ESG) investments among Malaysians,” he says.

BuySolar is a one-stop online marketplace offering end-to-end solar installation services from online application, cost estimation, financing to after-sales services. The platform is supported by the Sustainable Energy Development Authority Malaysia (SEDA).

“We’ve seen encouraging responses from businesses to adopt rooftop solar PV systems for their numerous benefits like cost saving, greater return on investment and sustainability.

With buySolar collaborating with Fundaztic on our platform, we would be able to offer various financing options that can be adapted to SMEs’ differing requirements and budgets.

“Our goal is to continue making buySolar a more vibrant platform, with a selection of service providers, financiers and insurance for solar panel and solar-related services in Malaysia, thereby pursuing the nation’s goal of achieving 20% renewable energy target by 2025,” says OpenSys Technologies chief operating officer Luke Sebastian.

Source: The Star