- Funding Societies recently announced it raised $144 million in a funding round led by SoftBank. These are the details.
Funding Societies, a Southeast Asia-based digital financing company, announced recently that it has raised $144 million equity in a funding round led by SoftBank’s Vision Fund 2. The funding round will be used for expanding into other markets.
And Funding Societies also said other new investors like Vietnam-based tech company VNG also joined the round. Plus the company also received $150 million in debt lines from institutional lenders.
The company — which is primarily focused on the Indonesian market — offers loans from $500 to as high as $1.5 million. So far, the company distributed over $2 billion in business financing.
Funding Societies recently expanded into Thailand and Vietnam. And the company is also launching new business lines.
“The three biggest funding sources for small firms are personal savings, if you’re lucky to have, and friends and families, and banks,” said Kelvin Teo, co-founder and group chief executive officer of Funding Societies, in an interview with Reuters.
