Funding Societies is excited to announce that Dr. Muhamad Chatib Basri, a highly regarded economist and member of the World Bank Advisory Council on Gender and Development as company advisor. Funding Societies is an online platform that connects investors with small businesses that need funds, solving the financial inclusion issue by making credit-worthy SMEs bankable. The current design has a lot of information and analytics that can be confusing to … On the 19th of April 2018, Funding Societies have managed to maintain low default rates across the region, at 1.3% and disbursed more than US$110M in more than 3000 loans. This achievement came just 6 months after crossing SGD 100 million in January this year. More information on our proactive approach towards combating the effects of COVID-19 . investment amount. Additionally, the platform has provided impressive returns in recent years. COVID-19 Updates. We introduced this product for you to have an additional option for product diversification and the potential for you to create a more balanced portfolio of unsecured as well as secured investments. balance. We pride ourselves with speed and flexibility, offering the widest range of … Cookies help us deliver our services. Anyone can register as an investor to search and browse loan listings on website to select loans they want to invest into based on the profile of the borrower as provided through the factsheet. The platform crossed S$ 1Bn in loans given out in 2019 making it the largest such platform in the region. [2] Funding Societies operates an online platform that enables Small and Medium Business to seek funding for their growth from a pool of investors, through crowdfunding. Funding Societies provides business financing through crowdfunding from individuals like you and me. Get an opportunity to invest in creditworthy local SMEs as a means to diversify your investment portfolio. Malaysia, Indonesia. [13] They were conferred amongst the Top 100 Fintech companies globally by KMPG and also the Brands for Good award in 2019. No min. Advice and answers from the Funding Societies Team. By using our services, you agree to our use of cookies, By purchasing this item, you are transacting with Google Payments and agreeing to the Google Payments, Play simulated trading games with friends. Funding Societies is now Malaysia’s leading P2P Financing platform, making it the preferred alternative financing option for SMEs across Malaysia. At the end of the tenure or earlier, the UCD will make a repayment of principal + interest back to the investors involved. 112 Robinson Road, Level 8, Singapore 068902. Funding Societies won the Tech in Asia road to Tokyo Tour (Singapore) Best Start-up award and represented Singapore in Tokyo in August 2015. An app for both iGM advisers and clients for self-directed investments. FDX - where smart investors meet professional fund managers. Go to Funding Societies. Funding Societies is the leading peer-to-peer lending platform in Southeast Asia. Funding Societies Response September 8, 2020 – Talent Acquisition Specialist Dear former team member, While we maintain the integrity of our performance reviews, it was never our intention to misguide or dismiss you and we apologise for your negative experience at Funding Societies. It is also one of the nation’s leading P2P Investment platforms, where anyone can invest in up and coming Malaysian … Funding Societies makes money by charging borrowers an origination fee and investors a service fee. Investors make money from interest and rates vary from 7%p.a to 14%p.a. FUNDING Societies has bagged funding from Samsung Venture Investment Corporation in its ongoing fundraising round at about two times its Series B post-money valuation in … Indeed, the last 1 - 2 years have seen rising competition and challenges in Singapore, especially with COVID. Explanation of Peer to Peer financing. 8,2 mil Me gusta. Funding Societies | Modalku is the largest P2P Lending platform in Southeast Asia. Funding Societies provides borrowers an online application process by supplying details about themselves and the loans that they would like to request together with the required financial documents. 30 were here. They are also applying for the Singapore digital banking license with MAS. As SMEs are the backbone of our economies, we are committed to solving the SME financing gap in the region, while providing a convenient and short-term fixed-income investment option to individuals and institutions. [6] The company claims that SGD$7.8 million in loans had been originated through its Singapore platform up to 30 June 2016.[7]. The standard loan period ranges from 3 months to 1 year and borrowers can loan up to SGD$2,000,000. Your ultimate trading resource – learn, discover, participate. We are Southeast Asia's best crowdfunding platform for SME financing. [12] It has also been selected for the inaugural batch of participants to enrol in The SuperCharger FinTech Accelerator. Funding Societies is an online platform for SMEs to acquire loans to fuel their growth and for investors to crowdlend. February 26, 2015. It was the first such platform in Singapore to engage an escrow agency to independently and safely manage investors’ funds. Funding Societies realised this need early on and has been working closely with various regulators to not only support in forming regulations but also being an early adopter to good governance practice seen in the more mature markets.” Click to read more on how we help # smallbusinesses derive # credit and get a fighting chance against COVID-19. Samsung Venture is an investment arm of the South Korean conglomerate, Samsung Group, investing in companies focused on IT, semiconductors, software, internet services, biotechnology, and more. Funding Societies has since maintained an average default rate of around 3% via its multi-pronged risk assessment approach, including continuously monitoring and … Business Model. 2 articles in this collection Written by Glennice Yong and Tom Brown. FinTech Certified. Date of Incorporation. We specialize in all forms of short-term financing for SMEs, crowdfunded by individual and institutional investors. The platform crossed S$ 1Bn in loans given out in 2019 making it the largest such platform in the region. Funding Societies is a South-East-Asia based SME digital financing platform, headquartered in Singapore. Funding Societies | Modalku is the largest P2P Lending platform in Southeast Asia. "This lending platform was conceived in Boston but born in Singapore", "Funding Societies entrusts crowdfunding funds with MAS-registered Trustee", "Peer-to-peer lending platforms seek new ways to increase investor confidence", "Homegrown Start-Up Modalku Aims to Help SMEs With Crowdfunded Loans - Jakarta Globe", "Funding Societies raises S$10 million in Series A funding", "Funding Societies, a Southeast Asian lending platform, gets $25M Series B led by Softbank Ventures Korea", "Funding Societies to provide alternative financing to SMEs in SEA", "Two Harvard Students Are Changing Lending in Southeast Asia", "Tech in Asia - Connecting Asia's startup ecosystem", "Hong Kong's SuperCharger to help FinTech startups grow", https://en.wikipedia.org/w/index.php?title=Funding_Societies&oldid=966263822, Financial services companies established in 2015, Creative Commons Attribution-ShareAlike License, SME Digital Financing, Crowdfunding, Alternative Investment, This page was last edited on 6 July 2020, at 02:42. The loans can be repaid at any time. Who are we? Staff Count. Funding Societies is heartened to announce we have surpassed the SGD 200 million mark in total crowdfunded SME loans. Investors. 201505169M. This project is a redesign idea pitch for Funding Societies, Southeast Asia’s largest peer-to-peer lending platform. Encuentra fotos de stock perfectas e imágenes editoriales de noticias sobre Funding Societies en Getty Images. Haz tu selección entre imágenes premium sobre Funding Societies de la más alta calidad. Funding Societies has a great performance track record, highlighted by its impressive default rate of just 1.35%. Funding Societies addresses this gap through technology by providing fast, customised, and flexible funding for the growth of local SMEs. 30 were here. Funding Societies raised S$ 10 million in series A funding in August 2016 led by Sequoia India and Alpha JWC Ventures.[8]. Get an opportunity to invest in creditworthy local SMEs as a means to diversify your investment portfolio. We specialize in all forms of short-term financing for SMEs, crowdfunded by individual and institutional investors. Only Singapore or Indonesian registered businesses can apply for a loan on their respective platforms: Funding Societies for Singapore and Modalku for Indonesia. G . Investors including individuals and institutions jointly invest in financing to SMEs and earn returns in the form of interests. In February 2017, Funding Societies expanded its reach to Malaysia, starting Funding Societies Malaysia, headed by Wong Kah Meng, CEO of FSMY. In the first month of launching, they received a total of SGD$3 million loan applications of which about SGD$250,000 was disbursed. B2C. Funding Societies will finance up to 80% of the motor vehicle’s value, which is crowdfunded from our investors. In November, 2019 they crossed S$ 1Bn in loans given out becoming the largest such platform in the region. Other Locations. It was the first such platform in Singapore to engage an escrow agency to independently and safely manage investors’ funds. Funding Societies through their proprietary-scoring model, make credit decisions on the applications. We pride ourselves with speed and flexibility, offering the widest range of … Funding Societies (Singapore), Funding Societies (Malaysia) and Modalku (Indonesia) Written by Shaun Updated over a week ago What does Funding Societies do? 101-200. New local partner Funding Societies will use the EUR 500,000 for working capital needs of about 60 SMEs in Jakarta, Bandung and Surabaya in Indonesia. "We are honoured to work with Samsung as an investor, as we find them a strategic and collaborative partner, in our journey to enable growth for … Funding Societies Redesigning the investment monitoring experience. View fullsize. Funding Societies Response. Easy passive income. Funding Societies and Samsung Ventures, along with Samsung Life Insurance Co., will create a strategic alliance to introduce prospective partnerships and collaborations. Dear ex-FS team member, Thanks for your kind note. With that said, past performance does not guarantee future results and investors must conduct their own research and due diligence on individual investments. The loans are unsecured and backed by personal guarantee of the owners of the business. About Funding Societies Launched in 2015, our mission is to uplift societies in Southeast Asia by creating financial opportunities for everyone. Overview. Low min. Funding Societies is a South-East-Asia based SME digital financing platform, headquartered in Singapore. Yes. Investors can decide how much to fund each borrower, with the minimum investment at $100 per loan. Written by Shaun Updated over a week ago How does Peer-to-Peer (P2P) work? Approved applications will be assigned a credit score based on their scoring model, which will determine the payable interest rate. [4] In Indonesia its known as Modalku (which means My Capital in Bahasa). Dr. Basri’s expertise and experience in macroeconomics and the regulatory field will serve as valuable support towards Funding Societies’ vision: … Funding Societies provides business financing through crowdfunding from individuals like you and me. Their existing investors Sequoia India, Alpha JWC Ventures (Indonesia) and Golden Gate Ventures together with new Venture Capitalists Qualgro and LINE Ventures also participated in this round. In Indonesia its known as Modalku (which means My Capital in Bahasa). Funding Societies, Singapur. [10], Funding Societies secured a partnership with DBS Bank in April 2016.[11]. The majority of these SME is engaged in eCommerce, agriculture & allied activities and wholesale trade. In April 2018, just slightly over three years old, Funding Societies raised US$25 million in their Series B round of funding,[9] led by Softbank Ventures Korea, an early-stage venture capital arm of Softbank Group famous for its US$100 billion Vision Fund. [5], In January 2016, Funding Societies launched Modalku, which means "My Capital" in Bahasa Indonesia to reach out to SMEs in the Indonesian Market. Funding Societies provides business financing through crowdfunding from individuals like you and me. Address. December 7, 2020 – Co-Founder. Kelvin Teo and Reynold Wijaya founded Funding Societies in 2015 while studying for their Master of Business Administration (MBA) at Harvard Business School. As you would have noticed we have started offering more property-backed investments on our Funding Societies platform in recent times. Investors including individuals and institutions jointly invest in financing to SMEs and earn returns in the form of interests. 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