The alternative finance industry, or marketplace lending, has become increasingly popular regionally in recent times and has been growing at an impressive pace. In 2016, Southeast Asia’s alternative finance market grew 363% from 2015 to a value of US$215.94 million, with marketplace business lending amounting to more than half of …
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A note from Kelvin Teo, CEO: Funding Societies Raises US$25 Million in Series B Funding Led by SoftBank Ventures Korea
When I registered to be the first investor on Funding Societies on 5 May 2015, it was on the earliest version of our website, with a backend system that could only crowdfund one type of financing product. We had a lean team of 5 supporting both our borrowers and investors …
Funding Societies Surpasses SGD 100 Million in SME Crowdfunding
We welcome the start of 2018 with wonderful news: Funding Societies crossed the SGD 100 million mark in total crowdfunded SME loans across Singapore, Indonesia, and Malaysia. We are proud to have achieved our growth responsibly, while maintaining a default rate of 1.5%. Kelvin Teo, our Co-Founder and CEO, commented, …
Funding Societies (Modalku) Won the Global SME Excellence Award
At the end of September 2017, Funding Societies (Modalku) won the Global SME Excellence Award during the ITU Telecom World Awards, held this year at Busan, South Korea. The honour makes Funding Societies (Modalku) the first Southeast Asian company to win the award. The Global SME Excellence Award recognizes the …
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Introducing Miyu, Your Friendly Chatbot, from Our Customer Experience Team
Funding Societies is excited to annouce Miyubot, a chatbot for use in our daily interactions with you. Driven by artificial intelligence and Natural Language Processing, the promise of these technologies in a chatbot coincides with our goal of serving you faster as well as better. Oftentimes, Miyubot will get to …
Q&A: Internship at Funding Societies (Part 2)
In our last post, we shared the first part of a Q&A session between our 2017 summer interns and Funding Societies Co-Founder & CEO Kelvin Teo. Here is the second and concluding post, where our interns share lessons learned and advice for those who will embark on FinTech internships. What …
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Q&A: Internship at Funding Societies (Part 1)
Singapore’s FinTech industry is on the rise. In fact, based on a 2017 Deloitte report, Singapore and London are ranked together as the top FinTech hub in the world. The prominence of FinTech in Singapore has attracted students and educational institutions. This summer, Funding Societies welcomed a diverse group of …
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Funding Societies is the Only P2P Lending Company from Southeast Asia included in the prestigious Fintech 250 List
CB Insights, one of the world’s leading private research companies within the startup ecosystem, has named Funding Societies to the celebrated Fintech 250 list, a select group of emerging private companies working on groundbreaking financial technology. Funding Societies, which operates in Singapore, Indonesia, and Malaysia, is the only Peer-to-Peer (P2P) …
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Funding Societies Wins “Best Customer Experience – Alternative Financial Service Providers”
Singapore, 14 June 2017 – We are humbled and honoured to receive the award for the “Best Customer Experience – Alternative Financial Service Providers” at the 3rd annual Financial Services Summit and Awards 2017. We’ve spent the last 8 months making leaps in improving our platform and enhancing the user …
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Announcing FS Bolt Mobile App, Provider of the Fastest Working Capital Loans in Singapore
Introducing our newest innovation – FS Bolt, a mobile application that is “the quickest source of working capital loans in Singapore” (Source: Business Times). The app was designed with emphasis on speed and ease of use, with (1) a two-minute application process, (2) minimal document submission, (3) approval notification in …