By Digital News Asia February 10, 2021
Awarded the SEC debt crowdfunding license earlier this month
Helps address the US$40 billion SME financing gap in Thailand
SMALL medium enterprises-focused (SME) digital financing platform Funding Societies is now live in Thailand, after being awarded the Securities and Exchange Commission (SEC) debt crowdfunding license earlier this month. This allows the platform to support Thai SMEs and startups in raising funds from retail and institutional investors.
Thailand marks the fourth market in Funding Society’s six years of operations. Since 2015, the company claims to have supported over 65,000 SMEs in Singapore, Malaysia, and Indonesia with over USD1.5 billion in funding.
KUALA LUMPUR: Funding Societies, the largest peer-to-peer (P2P) financing platform in Malaysia, expects to disburse more than RM1bil in financing cumulatively as the economy stabilises and recovers based on its forecast for 2021.