FOR IMMEDIATE PRESS RELEASE
GOLDBELL FINANCIAL SERVICES BREAKS AWAY FROM TRADITION
IN NEW FINTECH INITIATIVE WITH CROWDFUNDING PLATFORM NEW UNION Partnership to Deliver Alternative Financing and Investment Solutions
for SMEs and Retail Investors
Singapore – With its sights set firmly on providing SME clients with new, innovative and
alternative financial solutions, Goldbell Financial Services (GBFS) – subsidiary of Singapore’s
largest commercial vehicles and industrial equipment distribution and leasing company
Goldbell Group – is entering into a strategic collaboration with homegrown, regional
crowdlending platform New Union.
Creating a dynamic Peer-to-Peer (P2P) FinTech eco-system that matches the financing needs
of underserved SMEs with investors who are seeking out a more diversified and attractive
pool of creditworthy investment options, this brings together GBFS’s financial expertise in
asset-backed lending and strong customer base with New Union’s experience and reach in
the Asian crowdfunding arena. Together, they will jointly develop a credit scoring system
based on historical borrowing data and the borrower's digital footprints as well as
securitisation of digital assets.
Integrating FinTech solutions as another capital access option in GBFS’s extensive range of
SME financing offerings, this union between traditional financial services and digital
technology also brings a wealth of finance and credit risk experience, with the appointment of
Goldbell’s Chief Operational Officer Alex Chua as advisor to the board of New Union.
A strong advocate of technology and innovation, whose background in corporate finance
includes that of being JP Morgan’s South-east Asia’s head of equity derivatives structured
products, Mr Chua believes that providing alternative funding access is the game changer of
growth. “Embracing the paradigm shift towards digital banking and the culture of innovation,
we are excited about the tremendous value creating potential that this collaboration with New
Union brings. Freed from the constraints of traditional banking regulations, underserved SME
entrepreneurs will now be empowered to scale up fast and capitalise on market opportunities
previously closed to them and realise their full business potential.”
With a mission to connect GBFS’s business worthy entrepreneurs with its regional community
of investors, New Union, which has raised more than S$2.5 billion for SMEs across the region
since its inception in 2013, draws from an impressive investment track record as one of Asia
Pacific’s fastest growing FinTech platforms with a presence across China, Taiwan, Cambodia
and most recently Philippines.
Eddie Lee, Group CEO, New Union said, “New Union understands the challenges faced by
SMEs and how financing can help them grow from good to great businesses. We believe that
our collaboration with GBFS will allow us to identify more creditworthy companies and provide
our investors with more crowdfunding options to augment their investment portfolios.”
The new initiative will help businesses reach their full potential by reducing cash-flow gaps
and enhancing capital growth at a lower cost of credit than other traditional alternative
financing companies, and also within a shorter fund-processing period. It will also offer
investors access to asset classed investment opportunities previously only available to
institutions, with attractive risk adjusted annualised returns.
About Goldbell Financial Services Pte Ltd
Goldbell Financial Services (“GBFS”) is part of Goldbell Group, Singapore’s largest player in
leasing and distribution of commercial and industrial vehicles. GBFS offers financing solutions
for Singapore’s SMEs and is the preferred financing partner in supporting Vehicle / COE
Financing, floor stocking; equipment financing; accounts receivable financing / factoring; loans
for industrial / commercial property and property development; renovation loans, and other
forms of commercial lending. For more information, please visit: www.gbfs.com.sg
About New Union (Singapore) Investment Pte Ltd
Since its inception in 2013, New Union holds the aim of connecting local SMEs seeking short-
term financing with investors interested in making short-term investments. A homegrown
platform, it has raised more than S$2.5 billion in loans for SMEs across Asia Pacific. Over the
past 4 years, it has also extended footprint into China, Taiwan, Cambodia and Philippines.
New Union Singapore was awarded Full Capital Market Service License by the Monetary
Authority of Singapore in 2017. For more information, please visit: www.newunion.sg
About Goldbell Group Goldbell Group is Singapore’s largest player in leasing and distribution of commercial and
industrial vehicles. Literally a driving force behind Singapore’s growing economy, Goldbell
has been providing industry-wide transport and logistic solutions – passenger and
commercial vehicles, as well as material handling and aviation ground support vehicles and
equipment – for nearly four decades. The company’s diversified business portfolio operates
under three main business pillars: Distribution, Leasing, and Financial Services, which
deliver a suite of total business solutions (leasing, financing, aftersales service, spare parts,
insurance, and equipment usage training, as well as fleet management services). For more
information, please visit: http://www.goldbellgroup.com/
Goldbell – Always committed to putting you right at the heart of what we do.
Issued by: Dunbar•Jones & Associates On behalf of: Goldbell Group For more information, contact: Janice Loh / Nur Atiqah Ali Dunbar•Jones & Associates
1 Goldhill Plaza #03-45 Podium Block Singapore 308899 Tel: (65) 6356 2830