# Funding Societies Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/funding-societies-pte

- Industry: Financial Services
- Headquarters: Singapore, Singapore
- Website: www.fundingsocieties.com/
- Total disclosed funding: $394M
- Latest round: Series C (Nov 5, 2024)
- Investors on record: 26

## About

Based in Singapore, and founded in 2015, Funding Societies Pte. Ltd. operates as a financial technology company that offers loans to small and medium enterprises (SMEs) in Southeast Asian countries. In August 2022, the firm raised USD 50 million in venture debt funding led by investor HSBC Group. The firm as of July 2023, has offices in Singapore, Indonesia, Malaysia, Thailand, and Vietnam, and is led by its co-founders Kelvin Teo (Group CEO) and Reynold Wijaya. In November 2024, Funding Societies Pte. Ltd. raised an undisclosed amount of venture debt funding from HSBC Asset Management.

The company provides a fintech platform that connects SMEs with investors, allowing them to access funding such as SME digital financing and debt investment. The company provides a few financing products, including Elevate, which is available in the Google Play and App Store to manage and streamline SME business finances such as cash, credit lines, cards, receivables, payables, and financing. Through the Funding Societies app, eligible businesses can apply for a business loan by submitting the necessary details, and after the credit and risk team reviews the application, the platform's established investor network funds the business loan, which is then disbursed to the business instantly. Funding Societies provide microloans, term loans, account payable financing, account receivable financing, and supplier financing. Additionally, the company offers a range of debt investments including Guaranteed Property-backed Investment, Guaranteed Returns Investment, Invoice Financing Investment, Revolving Credit Investment, etc with investment return up to 7.28 percent.

## Funding rounds

- Series C, Nov 5, 2024, $175M — Hong Shan, SG Growth Capital, VNG Corporation, SB Investment Advisers, Indies Capital Partners, Rapyd Ventures, K3 Ventures
- Series C, Mar 9, 2022, $144M — Maybank Private Equity
- Series C, Nov 26, 2021, $43M — Hong Shan, Sumitomo Mitsui Banking Corporation, 500 Global, SBVA, Endeavor Catalyst, Qualgro, Bossa Nova Investimentos, SGInnovate, AJ Capital, PacificBridge Asset Management, Triputra Group, BRI Ventures, United Family Capital, PT Parisindo Pratama
- Series B, Nov 7, 2018, $25M — Hong Shan, SBVA, Golden Gate Ventures, LINE Ventures, Alpha JWC Ventures, Naver, Qualgro, United Family Capital
- Series A, Aug 16, 2016, $7M — Hong Shan, Alpha JWC Ventures, The Graduate Syndicate

## Investors

- Hong Shan — Series A, Series B, Series C
- Alpha JWC Ventures (https://capitalatlas.ai/funds/alpha-jwc-ventures) — Series A, Series B
- The Graduate Syndicate (https://capitalatlas.ai/funds/the-graduate-syndicate) — Series A
- SBVA (https://capitalatlas.ai/funds/sbva) — Series B, Series C
- Golden Gate Ventures (https://capitalatlas.ai/funds/golden-gate-ventures) — Series B
- LINE Ventures (https://capitalatlas.ai/funds/line-ventures) — Series B
- Naver — Series B
- Qualgro (https://capitalatlas.ai/funds/qualgro) — Series B, Series C
- United Family Capital — Series B, Series C
- Sumitomo Mitsui Banking Corporation — Series C
- 500 Global (https://capitalatlas.ai/funds/500-global) — Series C
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series C
- Bossa Nova Investimentos (https://capitalatlas.ai/funds/bossa-nova-investimentos) — Series C
- SGInnovate (https://capitalatlas.ai/funds/sginnovate) — Series C
- AJ Capital — Series C
- PacificBridge Asset Management — Series C
- Triputra Group — Series C
- BRI Ventures (https://capitalatlas.ai/funds/bri-ventures) — Series C
- PT Parisindo Pratama — Series C
- Maybank Private Equity (https://capitalatlas.ai/funds/maybank-private-equity) — Series C
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series C
- VNG Corporation — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- Indies Capital Partners (https://capitalatlas.ai/funds/indies-capital-partners) — Series C
- Rapyd Ventures (https://capitalatlas.ai/funds/rapyd-ventures) — Series C
- K3 Ventures (https://capitalatlas.ai/funds/k3-ventures) — Series C