Funding Societies Won 3rd Place for MAS FinTech Awards 2016

Funding Societies Won 3rd Place for MAS FinTech Awards 2016

On 18 November 2016, the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore awarded the ten most innovative FinTech companies as part of the Singapore FinTech Festival. The MAS FinTech Awards recognises innovative FinTech solutions that have been implemented by FinTech start-ups, financial institutions, and technology companies. We …

8 Steps to Creating a Smart Financial Plan

8 Steps to Creating a Smart Financial Plan

An illuminating Straits Times article published early this year revealed the results of a poll conducted by the Financial Planning Association of Singapore (FPAS). Some unexpected and uncomfortable finds were disclosed. Only a third of Singaporeans had a comprehensive financial plan. Only 11% felt knowledgeable about financial matters. Most felt …

8 Things to Ask Yourself Before Applying for a Business Loan

8 Things to Ask Yourself Before Applying for a Business Loan

Securing funding is never easy – especially if you are an SME or small business owner. Ask yourself these questions before you prepare your loan application to maximise your chances of loan approval: 1. Why do I need a business loan? Every business loan consideration should start with this question …

Investing in Invoice Financing vs Term Loans

Investing in Invoice Financing vs Term Loans at Funding Societies

Some of our investors may have already heard of our new product – Invoice Financing. We hope that this post will help to answer some of the FAQs regarding investing in invoice financing and dispel any confusion. Q: What is invoice financing? Invoice financing is a loan product where sellers …

Funding Societies raises $7.5M for its loan marketplace in Southeast Asia

Funding Societies raises $7.5M for its loan marketplace in Southeast Asia

We are humbled to announce that Funding Societies has raised a $7.5 million Series A round for its take on marketplace lending. Sequoia India — the VC firm’s fund that invests in Southeast Asian companies — led the investment, which included angel investors. Read more on TechCrunch here.

Traditional Financial Institutions vs Crowdfunding Platforms

Comparison between Traditional Financial Institutions vs Crowdfunding Platforms

Thanks to the rise of crowdfunding and peer-to-peer loans, banks and traditional financial institutions are no longer the only options for credit seekers. If you are looking to secure a loan for your business, this is great news. You have more choices now. You can easily find a loan most …

Good Deeds Paid Off for Withdrawal of Loan

At Funding Societies, safe growth is more important than fast growth.

As you are aware, Funding Societies takes credit assessment and defaults very seriously. To us, safe growth is more important than fast growth. This is evident from our default rate of 1.8% (as of June 2016), which is much lower than that of comparable platforms. It is a principle shared …

The SME Guide to Business Financing

The SME Guide to Business Financing

If you are part of a Singapore SME, it can be difficult to get funding for your business. According to this Business Times article, four in 10 Singapore SMEs lack support from financial institutions. While certain banks are recently looking to grow their SME lending, financial support for Singapore SMEs …