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KILDE is a global private debt marketplace where alternative lending firms (Non-Banking Financial Institutions) raise debt capital with institutional and accredited investors. KILDE assists the participants throughout the entire process of arranging the debt issuance in the form of debt securities, private placement of the securities, subscription, settlement, and loan monitoring.
KILDE arranges investments in alternative debt through debt securities (debentures). Alternative lenders issue debentures, which are offered to a pool of investors at the platform, within the credit limit set by KILDE. The platform automates the entire process of issuance, subscription and settlement of the debentures and assists the participants throughout the entire investment cycle. Each alternative lender has an extensive information profile at the platform.
Moreover, each debenture issuance is supplemented with Information Memorandum and Pricing Supplement. The investors and the alternative lender issuing the debentures sign the sales agreement digitally in the platform. Proceeds from the sales of the debentures are transferred weekly to the escrow account of the participants. Funds are held in a segregated account controlled by a third-party escrow agent, which is responsible for managing payments and registering the debentures holders.
We built the platform willing to differentiate our solution from what is currently available in the market.
- Investors do not bear the credit risk of individual loans. The borrower is obliged to repay the principal and interest to the investors, irrespective of the performance of the underlying loans;
- Investors have access to a convenient marketplace to diversify their investment portfolio. The credit risk of the underlying loans is spread among a handful of alternative lenders with whom we manage the risks through continuous credit assessment;
- Alternative lenders can find additional sources of funding to increase their loan portfolio and provide cheaper and less restrictive loans to their customers.
KILDE PTE LTD is incorporated in Singapore under the registration no. 201929587K and holds a Capital Markets Services license (CMS101016) issued by the Monetary Authority of Singapore to deal in capital markets products under the Securities and Futures Act (Cap. 289).
In case of such an unlikely event, KILDE will stop accepting new funds from investors and will cancel the issuance of new debentures. The platform will operate until all the active debentures are liquidated in the system, which means that the loan originators must keep following the payment schedule of those debentures so that investors can be paid accordingly to the terms of their ongoing positions.
At the moment, we can only onboard accredited and institutional investors, but we are working towards making our deals accessible to the wider investor base. You can sign up, and we will notify you once this becomes possible.
Once registered, you will be asked to fill out the questionnaire and provide documents to confirm your status of "accredited" or "institutional" investor.
There are three ways how to confirm your accredited investor status:
- Annual income: your net income shall be exceeding SGD 300,000 (ca. USD 224,000) in the past 12 months OR
- Financial assets: your financial assets should be equal or exceed SGD 1,000,000 ( ca. USD 745,000) at the time of registration OR
- Personal assets: your personal assets should be equal or exceed SGD 2,000,000 (ca. USD 1,490,000) at the time of registration. Personal assets include your financial assets.
If you meet any of the three criteria, congratulations, you are an accredited investor according to Singaporean regulations.
If you have doubts whether you would qualify, please do not hesitate to contact our investor relations team at info@kilde.sg or aleksandra@kilde.sg.
If you represent financial institution, or a corporation, please register as a legal entity.
Creating an account with us is simple. Click "Create Account" button on our website or click "Join" in the navigation pane on top of the page, and fill out your information in the registration form.
Once this is done, you will get an email with a verification link to verify your email address. You then will be able to log in to your Kilde account and complete the required steps to activate your account and start investing.
Please keep in mind, that you must be an accredited or institutional investor, as classified by the Monetary Authority of Singapore, to be able to invest with us. Once registered, you will be asked to fill out the questionnaire to check that you qualify as accredited investor. You will also be asked to provide specific documents to confirm your status.
For institutional investors, our investor relations team member will be getting in touch with you to discuss the corporate documents that shall be provided.
In case you are an alternative lender, a due diligence process is performed by KILDE’s team to determine if your company matches the minimum requirements to join the platform. Please, get in touch with our sales team (info@kilde.sg).
If you are an accredited investor be ready to provide:
- Passport or ID Card
- Proof of wealth or income:
- Pay slips / tax declaration
- Bank statement
- Investment statements (Capital Market Products, Bullion, Stock, Cryptocurrency holdings)
- Investment life policy statement
- Life policies certificate
- Financial statements and business registry excerpt to confirming the value of your shares in private companies
- Excerpt from land / property registry
- Proof of address (document should not be older than 3 months) :
- Copy of a bill (e.g. utility, mobile, internet, etc.)
- Bank statement with address
- Tenant agreement
KILDE works with a third-party escrow agent licensed by the Monetary Authority of Singapore (MAS) to manage all money transactions. The funds are held in secure segregated escrow account controlled by the licensed trust R&H Trust Co. (Singapore) Pte Ltd and operated by Vistra Singapore. We will share the account details with the investor once the onboarding process is completed.
Investors can request partial or full withdrawal of their available funds at any time by using the dashboard at the KILDE’s platform. Please note that actual payment transfer may take a few workdays to reach your registered external account depending on your country.
Although most of the bonds placed on our platform are USD - denominated, we can accept deposits in USD, SGD (Singapore Dollar) and EUR. The funds transferred in SGD and EUR will be converted to USD (for transactions in USD), using DBS bank treasury rate.
To invest in the platform you must complete the onboarding process and have available funds in the escrow account. You can choose to invest either by manually selecting available debentures or leaving the investment to our automatic matching mechanism. Tranches of debentures will be offered regularly at our platform and you must purchase the debentures during the subscription period.
- Manual investment: You can select which debentures you would like to purchase. You can compare debenture details such as term, interest rate, and alternative lender information to determine which debentures you prefer.
- Automated investment: Relying on the Auto-Invest tool, you can define criteria that allow the system to automatically purchase the debentures matching those determined criteria.
Debentures issued at the platform have flexible terms (from 3 to 36 months) with interest being paid on a monthly or another basis. The interest rate reflects the maturity and risks associated with the debenture and is currently ranging from 9.0% to
p.a.
All interest rates are expressed as annual figures. Interest is calculated based on the amount that you have invested to purchase the debenture on a respective day. The formula for calculating interest is as follows: Invested amount * Period of holding the debenture (Days) * Interest rate (%) p.a. / 365.
Repayments to investors are scheduled to occur according to the terms of the particular debenture. Please always check the payment schedule of each transaction to determine the exact dates of the repayment. The generated income can be reinvested or withdrawn. All transactions can be reviewed at the KILDE’s platform at any time.
The investor is allowed to cancel the subscription request before the funds' settlement which occurs once a week. However, once the purchase of the debenture is settled, the investor can not cancel the investment transaction.
The platform works based on pre-funded wallets. Investors can have access to the debentures through a minimal investment of $100.00.
KILDE charges investors a fee of 0.5% p.a. on investment outstanding. For institutional investors, who invest above $5,000,000 the fee is waived.
Your funds deposited at the escrow account are available to you anytime as long as you have not committed them to a debenture purchase. Once you have committed to subscribe to a debenture, funds allocated for this purchase have been “locked” until the funds' settlement. Please, see the answer to question “3.5. Can I cancel an ongoing investment?” for more details. From the day of funds settlement, you will receive interest and repayment of the principal as per terms of the debenture. The interest income is paid regularly and these proceeds can be reinvested at the platform or withdrawn to back to your bank account.
KILDE has a user-friendly dashboard that allows investors to check their account statements and information related to the debentures being held.
It is KILDE’s priority to provide a good selection of alternative lenders, which must fulfil a stern onboarding and credit risk assessment process. However, you should be aware that by investing through Kilde’s platform your capital is at risk. To mitigate unpleasant surprises, our team manages the risks through continuous credit assessment and loan covenants monitoring. Furthermore, most of the deals are secured by the pledge of the loan portfolio. Please, see details about the specific debenture at the platform.
Auto-Invest is an advanced tool that helps investors to save time and ensure better diversification by purchasing multiple debenture tranches accordingly to a pre-determined set of criteria. Investors can create an investment portfolio profile beforehand by selecting the desirable terms, interest rates, loan originators and countries so that the system can make future purchases based on those criteria.
First, you must activate your Auto-Invest portfolio and allocate funds to this portfolio. The system will automatically filter among all the debentures listed at the platform and purchase those that meet your investment criteria. Every time a new debenture is issued, the system will evaluate if it is eligible to purchase based on your defined criteria.
This feature is programmed to make the best of the allocated funds to make them work most of the time. In case there are not enough debentures at the platform meeting the specified criteria, the funds will remain allocated in your account.
It is simple, just go to the Auto-Invest section to determine the portfolio size, diversification weight and the criteria such as terms, interest rates, loan originators and countries to be considered by the system when purchasing a debenture.
You can immediately edit, deactivate and delete portfolios at any time by visiting the Auto-Invest settings. The already purchase debentures will remain at your account until their maturity.
Yes, you can still invest your funds manually while using the Auto-Invest tool as long as you have enough available funds.
No, this is a free convenient tool provided by the platform to promote diversification and save time for the investors.
Withholding tax refers to the tax that is withheld or deducted at source on certain types of payments made to non-residents.
In Singapore, payer entities are required by law to withhold or deduct a percentage of payments made to non-resident recipients and remit this directly to the Inland Revenue Authority of Singapore (IRAS).
Some examples of payments that may be subject to WHT in Singapore include:
- Interest payments
The rate of WHT may vary depending on factors like the recipient's country of residence and whether a tax treaty is in place between Singapore and that country. WHT aims to ensure that non-residents pay tax on Singapore-sourced income.
In summary, WHT is tax deducted on payments to non-residents which the local payer remits directly to the tax authority(IRAS). It prevents the avoidance of tax obligations by non-residents.
No, WHT does not apply to payments made to Singapore tax residents. It only applies to payments made to non-residents.
Yes, if you receive coupon payment from an issuer in Singapore, WHT will be applied. Kilde is responsible for deducting the WHT and paying it to the IRAS.
As a non-resident, you do not have to pay the WHT yourself. We are responsible for deducting the appropriate WHT rate and paying it to IRAS on your behalf. The WHT will be deducted from the interest payment you receive.
No, withholding tax (WHT) is not applicable for all deals on the Kilde platform. WHT only applies to certain deals that meet specific criteria:
- The issuer must be based in Singapore
- Or the debentures must be issued from a Singapore-based Special Purpose Vehicle (SPV)
Deals meeting either of these criteria will be marked as attracting WHT in the deal summary on the Kilde platform.
For deals where the issuer is not based in Singapore and the debentures are not issued from a Singapore-based SPV, WHT will not apply.
So, in summary, WHT only applies to select deals on the Kilde platform, specifically those marked as attracting WHT. It is not applicable across all deals on the platform. The deal summary indicates which deals have WHT implications.
The answer depends on where you live.
- For interest payments made to non-resident recipients, the general WHT rate under Singapore domestic law is 15%.
- However, a reduced WHT rate may apply if the recipient is a tax resident of a country that has a Double Tax Avoidance Agreement (DTAA) with Singapore.
- The applicable DTAA will specify the WHT rate that applies to interest payments. Rates are often lower than 15%.
- To apply DTAA rates, tax residence certificates and beneficial ownership declarations are usually required from the recipients.
Please get in touch with us, we tell you what is the applicable WHT rate and which deals are affected.
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