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Funding Societies Pte. Ltd.

Partner Category Financial services

Funding Societies | Modalku is the largest SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia and Malaysia, and backed by SGInnovate, Sequoia India and Softbank Ventures Asia Corp amongst many others. Funding Societies Singapore is a Participating Financing Institution (PFI) under Enterprise Singapore's (ESG) Enterprise Financing Scheme. SMEs, the bulwark of the ASEAN economy, still encounter multiple barriers in accessing funds from traditional financial institutions today. Funding Societies was incorporated in Singapore in 2015 with the vision to close this billion-dollar funding gap. With the motto of “Stronger SMEs, Stronger Societies”, the financing platform provides business financing to the region’s small and medium-sized enterprises (SMEs). These financing opportunities are crowdfunded by individual investors at a minimum amount of S$20 as well as institutional investors. Funding Societies is a 2-sided platform that services SMEs and Investors simultaneously. It believes in growing underserved SMEs in Southeast Asia while at the same time helping platform investors earn attractive returns and diversification in their portfolio. In 5 years, it has helped finance over 3 million business loans with over S$1.7 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, Fintech Top 100 by KPMG in 2018, Brands for Good in 2019, and recognised by IDC as amongst the 5 fastest growing FinTechs in Singapore in 2020.