Funding Societies, the Singapore-based MSME lender, has raised US$144 million in an oversubscribed Series C+ equity round led by SoftBank Vision Fund 2. It has also secured US$150 million in debt lines from institutional investors worldwide. Thus, it has raised a total of US$294 million to be used to fund its expansion plans. The fintech, which claims to be Southeast Asia’s largest MSME digital financing platform, has its primary market in Indonesia and offers loans in the range of US$500 to US$1.5 million. Funding Societies also has its presence in Malaysia, Vietnam, and Thailand and has so far disbursed more than US$2 billion in loans to MSMEs.
