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Funding Societies secures equity investment from Gobi Partners
Funding Societies, a digital finance platform for small and medium-sized enterprises (SMEs) in Southeast Asia, has received an equity investment from the venture capital firm Gobi Partners.
This investment underscores continued investor confidence in the platform amid challenges in the fintech sector.
Funding Societies said that the investment will help enhance its financing and payment solutions for underserved SMEs in the region.
The company intends to use the new funding to enhance its technology-driven approach.
This will focus on AI and automation to improve processes and strengthen risk management.
Recent Funding Societies developments
| Timeline |
|---|
| 19-Dec-2024 💵 Funding Societies secures $25m in equity investment Funding Societies secures $25M from Cool Japan Fund to enhance SME financing and expand its payments business in Southeast Asia. |
| 05-Nov-2024 💰 Funding Societies signs third credit facility with HSBC Funding Societies secures $100M+ credit facility from HSBC to boost access for underserved MSMEs in Southeast Asia. |
| 04-Oct-2024 📊 Funding Societies grows losses, top line in ‘toughest year’ yet Funding Societies sees mixed results in 2023, facing challenges despite a revenue boost from payment services amid rising rates. |
| 03-Jan-2024 💰 Funding Societies raises new capital from Khazanah to expand Malaysian footprint Funding Societies secures undisclosed investment from Khazanah Nasional to expand MSME lending across Malaysia by 2025. |
| 02-Nov-2023 💰 Funding Societies bags $7.5m in debt from Norwegian investment fund Funding Societies secures $7.5M in debt from Norfund to enhance financing solutions across Southeast Asia. |
| 27-Oct-2023 📈 Funding Societies posts 84% revenue jump in 2022 as losses grow Funding Societies sees 84% revenue growth to $36.6M in 2022 but faces rising losses and bad loans amid economic uncertainty. |
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