Singapore-based marketplace lender Funding Societies raised $10m in Series A funding, led by Sequoia India. To date, the platform has provided approximately S$8.5 million in loans to SMEs in Singapore.
Funding Societies, a Singapore-based “peer to business” lending marketplace, has raised a respectable S$ 10 million in a Series A funding round. The investment was led by Sequoia India, part of the legendary Sequoia VC group. Funding Societies believes this is the largest investment in a Southeast Asian peer to peer lender – ever. The funding also included the participation of Harvard University experts and existing investors Alpha JWC Ventures. Kelvin Teo, co-founder of Funding Societies, said they were proud to work with Sequoia. “We believe in working with the best in the industry,” stated Teo.