News and Announcements
Funding Societies Recognized in the Top 250 FinTech Firms Globally
- Published December 15, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Funding Societies is the only Southeast Asian peer-to-peer lending company to be recognized amongst the Top 250 FinTech companies globally by CB Insights.
- This recognition is amongst many local and global awards Funding Societies has received, including the Global SME Excellence Award at the ITU Telecom World Awards, Best in Customer Experience
- Alternate Financial Services across Asia by Retail Banker International and the MAS FinTech Award won in November 2016
- Funding Societies has become the first and the only peer-to-peer (P2P) lending company to attain membership at the International Association of Credit Portfolio Managers (IACPM), a prestigious forum for credit risk management
- Terry Tse, ex Chief Risk Officer of Dianrong joined the Board of Advisors at Funding Societies.
For Funding Societies, 2017 has been a year of growth with local and global recognition.
Funding Societies launched its Malaysia operations in February 2017 to add to Singapore and Indonesia operations. The Malaysian team closes their first year crowdfunding more than 50% of the nation’s peer-to-peer SME loans.
We were also recognized amongst Top 250 FinTech companies globally by CB Insights, one of the world’s leading private research companies within the startup ecosystem. Together with companies like Stripe, Ant Financial Services, Funding Circle and Dianrong, Funding Societies was recognized for its financial innovations in front of an audience of 1000 senior executives from around the world and esteemed news outlets including The New York Times, The Wall Street Journal, The Financial Times, Reuters, and Bloomberg.
Funding Societies (Modalku) is humble to emerge from hundreds of applicants to win the Global SME Excellence Award at the ITU Telecom World Awards, held in September 2017 at Busan, South Korea. The Global SME Excellence Award recognizes the most promising and innovative information and communication technology solutions developed by SMEs to deliver social impact.
With the win in Best in Customer Experience – Alternate Financial Services across Asia conferred by Retail Banker International, Funding Societies strives harder to create the best customer experience for investors through our user-friendly investor platform and mobile app, and interactive live chat with Miyu, our chatbot as well as the Customer Experience team.
To date, Funding Societies has crowdfunded more than SGD 90 million across 1500 business loans. Investors on the platform invest into these loans and earn returns of up to 14% per annum, higher than typical deposits, bonds and traditional instruments and the default rate is just 1.4% as of Dec 2017.
About Funding Societies Pte Ltd
Founded in 2015, Funding Societies is the leading peer-to-peer lending platform that connects growing SMEs with investors through a digital lending marketplace. Funding Societies is backed by Sequoia Capital, and won Monetary Authority of Singapore Fintech Award (2016), as well as ranked #1 Hottest Startup by Singapore Business Review and Top 250 FinTech companies globally by CB Insights (2017).
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