Funding Societies� Teo: �We brought our cash burn down by about 50%�

Theasianbankersg18 Mar, 2021Finance

Funding Societies, a peer-to-peer (P2P) lending fintech that operates in Singapore, Malaysia, and Indonesia (as Modalku), focuses on meeting the short-term credit needs of small and medium enterprises (SMEs). The company began its operations in Thailand early this year. The challenges brought about by the COVID-19 pandemic forced the company to undertake several initiatives to manage its credit risks and operational efficiency.