Fundbox
A Singapore-based consumer finance company founded in 2018, operating under the "Fundbox" / "EASYRide" brand as a non-bank lender specialising in personal mobility financing (e-bikes, bicycles, PMAs and LEVs) across Singapore and Malaysia, with Indonesia next. The company has financed over SGD 5M across 4,700+ customers (100%+ YoY growth), with a 96.9% collection rate and nil net NPLs.
Kilde Score is the platform’s proprietary credit assessment of the borrower, reflecting Kilde’s independent credit view and expressed as a numeric score from worst to best (1.00–5.75). For full details of the credit methodology, including its mapping to a Fitch-style rating equivalent, please refer to this article.
Total value of bonds this borrower has listed on Kilde for investors to fund.
Singapore
Malaysia
Indonesia
Regulatory status of the borrower: Licensed if the license is required, or 'Not applicable' if no licence is required in its operating market(s).
Total amount of loans the borrower has issued to its own end customers. Reflects the company's overall lending scale.
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Overview
Background & History
Incorporated 26 December 2018 in Singapore as Wire & Wheels Pte. Ltd. and renamed Fundbox Pte. Ltd. (UEN 201842913N) in April 2019, the company is a digital hire-purchase financier of Power-Assisted Bicycles and Personal Mobility Devices for gig-economy riders in Southeast Asia. Headquartered in Singapore as an Exempt Private Company with SGD 100,000 paid-up capital, it is wholly owned by founder/UBO Ng Choon Poh ("Jacki Ng"), who is also sole director. Fundbox operates under SSIC 64929 (Motor Finance) under Singapore's Hire-Purchase Act and reports SGD 10M+ financed and 7,000+ customers since inception.
Business Model & Lines of Business
Fundbox runs a merchant-distributed HP franchise across e-bikes, bicycles and personal mobility aids, with 6–36 month SGD loans averaging ~SGD 1,083. Revenue is generated from merchant fees, origination fees, EMI interest and late fees, with acquisition entirely through the retailer ecosystem. Funding splits between ~SGD 1.32M of private notes across 19 individual SGD lenders (9–12% p.a., unsecured) and the KILDE debenture programme, with KILDE debentures secured by receivables and vehicles at 80% LTV.
Key Milestones
FY2024 revenue was SGD 1.33M (+4% YoY) after SGD 1.28M in FY2023 (+265% YoY) and SGD 351K in FY2022; net profit grew from SGD 101K to SGD 229K to SGD 265K (20% margin, 23% ROE). KILDE financing was onboarded under IM-B19199-001 (Aug 2022); three tranches totalling SGD 643.3K have been issued — T002 (SGD 293.3K, 11%, Sep 2024), T003 (SGD 250K, 10%, Mar 2025) and T004 (SGD 100K, 11%, Sep 2025) — with zero late payments and no covenant breaches. FY2025 audit is pending.
Management Team & Organization
Fundbox is owner-managed by founder, sole shareholder and sole director Ng Choon Poh, supported by Company Secretary Choo Yi Lou Monica. The entity operates under a single-director governance structure with no Board, CFO/COO or statutory auditor (small-company exemption applies). KYC was cleared via Regtank with no adverse hits, ACRA filings are current through FY2024, and the only registered security interests are the KILDE pledge agreements.
Financials
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Total income (interest and fee income) generated from the borrower’s lending activities.
Products
Typical contractual tenor of the loans disbursed by the borrower to its end customers.
The effective Annual Percentage Rate of the loan charged by the borrower to its end customers, inclusive of interest and fees.
Typical principal amount disbursed by the borrower to its end customers per loan transaction.
Expected share of non-performing loans (NPL) — loans where the end customer has stopped repaying — under this product, shown as a range.
Share of this product in the borrower's overall loan portfolio. Shows how much of the lending business comes from this product.
Market Data
According to Fitch Rating
Annualised
Annualised
Data Sources
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