If you stumbled upon this article looking to find out more about StashAway vs Funding Societies, I hope this can bring you some clarity.
StashAway vs Funding Societies: What are the major differences?
StashAway is basically a robo advisory, meaning it is a investment platform. You deposit money and they help you to invest in exchange-traded funds (ETF) and help you to gain exposure to international markets like the US, Europe etc. It’s a hands-off approach to investing your money as you can determine your risk profile and the platform automatically calculates the allocation based on your risk profile. You can withdraw at any time.
Funding Societies is mainly a peer-to-peer (P2P) lending platform whereby you lend money to businesses and SME’s in Malaysia at a fixed interest rate. It is sort of an investment vehicle where you can get potentially better than FD rates by lending your money to legitimate businesses in Malaysia. Typically, you invest a minimum sum into investment notes and you won’t be able to withdraw until the note is mature.
Both these platforms are approved by Securities Commission of Malaysia to assure a minimum level of security and transparency.