Lendahand agrees to 5 million euro debt facility for Funding Societies to support under-served SMEs in Southeast Asia

ROTTERDAM, THE NETHERLANDS, JANUARY 21, 2021 - Lendahand, a Dutch-based crowdfunding platform for SMEs in emerging markets, has agreed to provide Singapore-based Funding Societies with up to 5 million euros to invest in underserved SMEs, predominantly in Indonesia, but also including Singapore and Malaysia. Southeast Asia’s leading SME digital financing platform, Funding Societies (known as Modalku in Indonesia) specializes in short-term financing for SMEs, funded by individual and institutional investors. It is backed by Sequoia India, Samsung (who invested in its tech arm) and Softbank Ventures Asia Corp amongst many other global and regional equity investors.

The UN estimates the annual funding gap faced by SMEs in emerging markets at $1.7 trillion. By providing fast and easy access to operating capital for these SMEs across the world, Lendahand aims to speed up the travel of much needed investment capital from Europe into emerging markets. By activating retail capital from impact minded investors in Europe, Lendahand believes they are showing there is a strong appetite for more investment opportunities in financial technology (FinTech) platforms such as Funding Societies.

“Funding Societies is a great example of the power technology can have on helping bridge this funding gap. With their mission of uplifting societies in Southeast Asia by providing access to capital for SMEs, we feel their business model aligns with our own goals. We hope to work with more innovative fintechs to advance our mission of fighting poverty in these underserved emerging markets.” says Lendahand CEO Koen The.

By working together with Lendahand, Funding Societies sees a potential long-term partner with like minded goals and values, one that understands how beneficial fast access to capital is for SMEs.

Kelvin Teo, Co-founder and Group CEO of Funding Societies | Modalku said, “We're honoured for the conviction that Lendahand has in us. As the largest SME financing platform in Southeast Asia, we share the same goal of financially empowering small businesses. With a shared vision, we're excited to work with Lendahand to uplift Southeast Asian societies.”

COVID Challenges

The COVID-19 global pandemic has wreaked havoc on the global economy and caused challenges for businesses small and large, leaving SMEs in emerging markets particularly vulnerable. In a time when many crowdfunding platforms have struggled even operating in mature economies, this partnership is a positive sign for Lendahand’s continued service of SMEs in emerging markets.

Koen The explains further: “Since the beginning of the pandemic we keep seeing governments in the West taking measures beneficial only for their own citizens. This directive of the Dutch government makes it clear that we have to look at other solutions. Emerging markets aren’t lacking in willing and innovative entrepreneurs eager to roll up their sleeves, take steps forward on their own, and thus, once again, get the economy going. What is lacking, however, are financial injections to support these SMEs.”

About Lendahand
Lendahand is the world’s largest crowdfunding platform specifically focused on impact investing. With over 80 million euros invested in over 30 countries, Lendahand provides operating capital in the form of debt facilities to qualified SMEs in emerging markets at affordable interest rates, working to fight poverty through sustainable job creation.

About Funding Societies
Funding Societies is the largest SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia and Malaysia, and backed by Sequoia India, Softbank Ventures Asia Corp, and Samsung Venture Investment Corporation amongst many others. It provides business financing to SMEs, which is funded by individual and institutional investors. In 4 years, it has helped finance over 1.4 million business loans with over S$1.1 billion in funding. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, Brands for Good in 2019, recognized by IDC as amongst the 5 fastest growing FinTechs in Singapore, and the Stevie® Award in 2020.


Pemberi Dana
+62 877 7126 5290

Penerima Dana
+62 877 7873 6144

Unifam Tower, Jl. Panjang Raya
Blok A3 No.1, Kedoya Utara,
Kebon Jeruk, Jakarta Barat,
DKI Jakarta, 11520, Indonesia


General Enquiries:
+65 6221 0958

Sales Enquiries:
+65 6011 7534

112 Robinson Road
Level 8
Singapore 068902


Primary contact
+603 9212 0208

Secondary contact
+603 2202 1013

Unit 15.01 & Unit 15.02,
Level 15, Mercu 3,
KL Eco City, Jalan Bangsar,
59200 Kuala Lumpur


SME Loan
+66 93 139 9721

+66 62 197 8661

No. 188, Spring Tower,
10th Floor, Phayathai Road,
Thung Phaya Thai Sub-district,
Ratchathewi District,
Bangkok, 10400


(+84) 28 7109 7896

The Sentry P
16 Nguyen Dang Giai Street,
Thao Dien Ward, Thu Duc City,
Ho Chi Minh City, Vietnam

174 Thai Ha Street,
Trung Liet Ward, Dong Da District,
Hanoi, Vietnam

lockSSL Secure Site

Invest on the go via the Funding Societies app

Funding Societies is Southeast Asia's leading SME digital financing platform. We specialise in all forms of short-term financing for SMEs, funded by individual and institutional investors. We pride ourselves in speed and flexibility, offering the widest range of term loan, trade finance and micro loan products. Backed by SoftBank Ventures Asia Corp and Sequoia India, amongst many others, Funding Societies has helped to finance over S$2 billion in business loans regionally. We are dedicated to the vision of enabling SMEs through equitable financial access, ultimately making a positive impact for our societies in Southeast Asia.

Funding Societies Pte. Ltd. and FS Capital Pte. Ltd. are part of the Funding Societies Brand.

Funding Societies Pte. Ltd.
Business Registration No.: 201505169M | CMS License No.: CMS100572

FS Capital Pte. Ltd.
Business Registration No.: 201631787R

© 2023 Funding Societies Pte. Ltd. & FS Capital Pte. Ltd. All rights reserved.