Funding Societies, Southeast Asia’s SME digital financing platform, has raised US$18 million in debt led by a trio syndicate of financial institutions including Helicap Investments, the newly launched Social Impact Debt Fund, and a Japanese financial services group. Helicap Securities acted as the sole mandated lead arranger on the secured credit facility.
Together with funding received from European impact investors such as Triodos Investment Management for Indonesian business loans, Funding Societies is on track to raise US$120 million in institutional debt for funding the growth needs of micro, small and medium enterprises (MSMEs) in Southeast Asia.
This funding round also expands the platform’s institutional lender base, which it managed to secured after passing financial and risk due diligence conducted by the lenders. Funding Societies will place the funds for lending to deserving MSMEs, propelling its mission of enabling financial inclusion in the region.
“The pandemic was an important test of resilience, and we are glad to have navigated it successfully, with a proven AI-led credit model,” said Kelvin Teo, Co-founder and Group CEO, Funding Societies | Modalku.
