SINGAPORE (Reuters) – Funding Societies, a Southeast Asian digital financing platform, has raised $144 million in a funding round, led by SoftBank Group Corp’s SoftBank Vision Fund 2, as it expands further in one of the world’s fastest growing digital markets.
In a statement on Wednesday, the seven-year-old company said other new investors included Vietnamese tech group VNG Corp, while it also received $150 million in debt lines from institutional lenders worldwide, some of which have been drawn down since 2021.
Singapore-based Funding Societies, whose main market is Indonesia, focuses on micro, small and medium enterprises, offering loans from $500 to up to $1.5 million.
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(Reporting by Anshuman Daga; Editing by Sherry Jacob-Phillips)
