We meet SMEs’ needs through hyperlocal products and partnerships

Theasianbankersg03 Nov, 2020Other

Kelvin Teo, Group CEO and co-founder of Funding Societies, discusses the gaps between the organisation and other peer-to-peer crowdfunding networks, their market success, and the obstacles they face during the COVID-19 pandemic. The business has licences to work in three countries-Funding Societies in Singapore and Malaysia and Modalku in Indonesia. It leads the country, expanding over $1 billion in loans to 45,000 SMEs, mainly through the P2P financing model. The P2P SME lending programme has granted over $1 billion in loans to 2.7 million.