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Funding Societies signs third credit facility with HSBC
Funding Societies, a digital finance platform for MSMEs in Southeast Asia, has signed a third credit facility agreement with HSBC.
This agreement under the ASEAN Growth Fund raises the total commitment to over US$100 million since 2022.
HSBC’s support intends to expand Funding Societies’ capability to provide credit access to underserved MSMEs in the region.
Despite banking improvements, there is still a US$2.5 trillion credit gap for small businesses in the Asia-Pacific.
Recent Funding Societies developments
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04-Oct-2024 💵 Funding Societies grows losses, top line in ‘toughest year’ yet
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03-Jan-2024 💰 Funding Societies raises new capital from Khazanah to expand Malaysian footprint
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02-Nov-2023 💰 Funding Societies bags $7.5m in debt from Norwegian investment fund
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27-Oct-2023 💰 Funding Societies posts 84% revenue jump in 2022 as losses grow
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08-Aug-2023 📉 Funding Societies’ Modalku cuts 18% of its workforce
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