Fundingsocieties

company

About

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

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

Employee Profiles

Number of Employee Profiles
13
Fundingsocieties has 13 current employee profiles, including Executive Kelvin Teo
Executive
Board member
Executive
Board member
Executive

Acquisition

Fundingsocieties has acquired 1 organizations. Their most recent acquisition was CardUp on Jun 29, 2022. They acquired CardUp for 0.

Date Company Name
Industry Acquisition Type Price
Jun 29, 2022 CardUp
Coupons acquisition Detail