Funding Societies - the only Fintech to win 2 awards at Brands For Good Asia 2019

Tuesday, 1 October 2019 - Funding Societies, the largest SME Digital Financing platform in Southeast Asia, picked up two awards during the Brands For Good Asia award ceremony on Thursday 26th September. The company was the only Fintech to win 2 awards and received them in the People Development and Business Model categories.  The awards recognize businesses across Asia for embodying the principles of Social Responsibility in their business and operations. 

Funding Societies is a digital lending platform, connecting SMEs in need of financial support with individual and institutional investors. The funds are investment funded, offering alternative financing solutions to small and medium businesses in Singapore, Malaysia and Indonesia. So far, the platform has helped to fund over $850 million in loans. 

“We are pleased to be recognised for our efforts to help serve the community, especially by an organisation that shares our belief in making a positive impact,” says Kelvin Teo, co-founder of Funding Societies.

Kelvin Teo and Singapore CEO Dheeraj Chowdhry, were called up on stage to claim the award for People Development under the category of Workplace. Funding Societies proved to be a strong contender based on its positive working environment, staff benefits and the initiatives to implement diversity in skills as well as nationalities. 

The second win of the night was for Funding Societies’ Business Model in the Community category. The judges were compelled by the company's push to drive financial inclusion, its dedication to serve underserved SMEs as well as its innovative services and products. 

In the last 4 years, since its inception, Funding Societies has won multiple awards including Fintech Award (SME category) from Monetary Authority of Singapore, Micro Enterprise Fintech Innovation Challenge by United Nations Capital Development Fund, Top 100 Global Fintech awarded by KPMG and the Global SME Excellence Award from United Nations ITU Telecom World.

About Funding Societies
Funding Societies (known as Modalku in Indonesia) is the largest SME digital financing platform in Southeast Asia. Backed by Softbank Ventures Asia Corp. and Sequoia India, it provides business financing to small and medium-sized enterprises (SMEs), which are funded by retail and institutional investors as well as high-net-worth individuals. In 4 years, we helped finance over 1 million business loans at over S$850 million with licensed/approved operations in Singapore, Indonesia, and Malaysia. In Singapore, Funding Societies Pte. Ltd. holds a Capital Market Services License issued by the Monetary Authority of Singapore. It was also named Fintech Top 100 by KPMG in 2018; Best Customer Experience by Retail Banker in 2017; and awarded the MAS Fintech Award (SME Category) in 2016.