Singapore-headquartered Funding Societies, which is currently Southeast Asia’s largest digital financing platform for SMEs, has received a US$50 million credit line from HSBC Singapore. These funds will be utilized for expanding the online lending platform’s reach by extending loans to underserved SMEs in the region. Funding Societies currently offers a range of financing solutions, including microloans, invoice financing, supply chain financing, term loans, property-backed secured financing, and revolving credit facility. Meanwhile, it caters to SMEs in five different markets – namely Singapore, Malaysia, Thailand, Vietnam, and Indonesia. Until now, Funding Societies has disbursed loans of over US$2.6 billion via more than 5.1 million transactions.
