Fundingsocieties

About

Funding Societies is a digital financing platform that connects SMEs with retail and institutional lenders.

Singapore,Central Region,Singapore
101 - 250
https://www.fundingsocieties.com.my

Highlights

Details

Last Funding Type: Series Unknown
Industries: Commercial Lending,Financial Services,FinTech,Funding Platform,Lending
Founded date: Jan 1, 2017
Number Of Employee: 101 - 250
Operating Status: Active
Legal Name: Funding Societies Pte Ltd.
Also Known As: Modalku,FS

Funding Societies is a SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia, Thailand, and registered in Malaysia. It is backed by Sequoia India and Softbank Ventures Asia Corp amongst many others and provides business financing to small and medium-sized enterprises (SMEs), which is funded by individual and institutional investors. In 6 years, it has helped finance over 4 million business loans with over S$2 billion in funding. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, KPMG Fintech100 in 2018, Brands for Good in 2019, and in 2020 recognized by IDC as amongst the 5 fastest growing FinTechs in Singapore, won the Stevie® Award for Innovation in Technology, and named ASEAN Startup of the Year by Global Startup Awards.

In 2015, co-founders Kelvin Teo, Iwan Kurniawan, and Reynold Wijaya founded Funding Societies. The company is headquartered in Central Region, Singapore.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

13

$387M S$233M €5M

Fundingsocieties has raised a total of $387M S$233M €5M in funding over 2 rounds. Their latest funding was raised on Aug 22, 2022 from a Debt Financing round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Aug 22, 2022	Debt Financing	S$223M	1	HSBC Bank Singapore	—	Detail
Feb 15, 2022	Series C	$144M	7	SoftBank Vision Fund	—	Detail
Feb 15, 2022	Debt Financing	$150M	—	—	—	Detail
Oct 12, 2021	Series Unknown	—	1	500 TukTuks	—	Detail
Oct 6, 2021	Debt Financing	$18M	2	Helicap Taurus Wealth	—	Detail

Investments

Number of Investments

Number of Lead Investments

1

0

Fundingsocieties has made 1 investments. Their most recent investment was on Feb 23, 2022, when Bank Index raised 0.

Date Company Name	Round	Money Raised	Industry	Lead Investor
Feb 23, 2022 Bank Index	Corporate Round	—	Banking	—

Investors

Number of Lead Investors

Number of Investors

12

25

Fundingsocieties is funded by 25 investors. HSBC Bank Singapore and SoftBank Vision Fund are the most recent investors.

Investor Name	Lead Investor	Funding Round
HSBC Bank Singapore	Yes	Debt Financing
SoftBank Vision Fund	Yes	Series C
500 TukTuks	Yes	Series Unknown
Helicap	Yes	Debt Financing
Taurus Wealth	Yes	Debt Financing
Lendahand	Yes	Debt Financing
Samsung Venture Investment	Yes	Series Unknown
AMTD ASEAN-Solidarity Fund	Yes	Series Unknown
BRI Ventures	Yes	Series C
Softbank Ventures Asia	Yes	Series B