Funding Societies

Fintech · Singapore, SG · fundingsocieties.com

SME digital financing platform across Southeast Asia (Modalku in Indonesia).

Founders

Kelvin Teo (Singapore · ♂) — A finance professional from KKR and McKinsey, he conceived a peer-to-peer SME lending platform at Harvard Business School and co-founded Funding Societies to close Southeast Asia's small-business financing gap.
Reynold Wijaya (Indonesia · ♂) — An executive at one of Indonesia's largest confectionery firms, he met Teo at Harvard and co-founded Funding Societies (Modalku) to fund underserved SMEs across the region.

Date	Round	Amount
Nov 2023	Debt SME financing platform Funding Societies raised $7.5M in debt from Norway's state-owned DFI Norfund.	$7.5M
Mar 2022	Series C Funding Societies (Modalku), a Singapore-based SME lending platform, raised a $144M Series C+ equity round led by SoftBank Vision Fund 2, plus $150M in debt lines.	$144M
Feb 2022	Series C Funding Societies raised USD144M Series C+ equity led by SoftBank Vision Fund 2 (plus USD150M in debt lines).	$144M

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