Funding Societies raises capital from 500 TukTuks

Funding Societies, a digital financing platform for small and medium-sized enterprises, has raised an undisclosed sum as part of its latest round of funding.

More funding details

• Investor: 500 TukTuks
• Stage: Unspecified

More company updates

• Funding Societies has used the latest investment to launch its crowdfunding platform in Thailand.
• The company aims to bridge the financing gap for small and medium-sized enterprises (SMEs) in Thailand by offering flexible lending products to meet working capital and expansion needs such as invoice financing, project financing, financing for initial public offerings, and term loans of up to 50 million baht (US$1.5 million).
• in February, Funding Societies announced its launch in Thailand, which became the platform’s fourth new market in its six years of operations.
• Earlier this year, Funding Societies obtained a license to operate a debt crowdfunding platform from Thailand’s Securities and Exchange Commission.
• The company said it has disbursed over 58 billion baht (US$1.73 billion) over the last six years through 4.8 million loans to over 70,000 SMEs across Southeast Asia.
• In December 2020, Funding Societies raised an undisclosed sum from Samsung Venture Investment, the venture capital arm of South Korean conglomerate Samsung Group.

Currency converted from Thai baht to US dollar: US$1 = 33.46 baht

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.