Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Lendahand agrees to 5 million euro debt facility for Funding Societies to support under-served SMEs in Southeast Asia

Lendahand, a Dutch-based crowdfunding platform for SMEs in emerging markets, has agreed to provide Singapore-based Funding Societies with up to 5 million euros to invest in underserved SMEs, predominantly in Indonesia, but also including Singapore and Malaysia. Funding Societies specializes in short-term financing for SME's. By activating retail capital from investors in Europe, Lendahand believes they are showing there is a strong appetite for more investments opportunities in financial technology platforms such as Funding Societies.


News provided by

Lendahand

Jan 21, 2021, 07:00 ET

Share this article

Share toX

Share this article

Share toX

Funding Societies CEO Kelvin Teo
Funding Societies CEO Kelvin Teo

ROTTERDAM, The Netherlands, Jan. 21, 2021 /PRNewswire-PRWeb/ -- Lendahand, a Dutch-based crowdfunding platform for SMEs in emerging markets, has agreed to provide Singapore-based Funding Societies with up to 5 million euros to invest in underserved SMEs, predominantly in Indonesia, but also including Singapore and Malaysia. Southeast Asia's leading SME digital financing platform, Funding Societies (known as Modalku in Indonesia) specializes in short-term financing for SMEs, crowdfunded by individual and institutional investors. It is backed by Sequoia India, Samsung (who invested in its tech arm) and Softbank Ventures Asia Corp amongst many other global and regional equity investors.

The UN estimates the annual funding gap faced by SMEs in emerging markets at $1.7 trillion. By providing fast and easy access to operating capital for these SMEs across the world, Lendahand aims to speed up the travel of much needed investment capital from Europe into emerging markets. By activating retail capital from impact minded investors in Europe, Lendahand believes they are showing there is a strong appetite for more investment opportunities in financial technology (FinTech) platforms such as Funding Societies.

“Funding Societies is a great example of the power technology can have on helping bridge this funding gap. With their mission of uplifting societies in Southeast Asia by providing access to capital for SMEs, we feel their business model aligns with our own goals. We hope to work with more innovative

Post this

"Funding Societies is a great example of the power technology can have on helping bridge this funding gap. With their mission of uplifting societies in Southeast Asia by providing access to capital for SMEs, we feel their business model aligns with our own goals. We hope to work with more innovative fintechs to advance our mission of fighting poverty in these underserved emerging markets." says Lendahand CEO Koen The.

By working together with Lendahand, Funding Societies sees a potential long-term partner with like minded goals and values, one that understands how beneficial fast access to capital is for SMEs.

Kelvin Teo, Co-founder and Group CEO of Funding Societies | Modalku said, "We're honoured for the conviction that Lendahand has in us. As the largest SME financing platform in Southeast Asia, we share the same goal of financially empowering small businesses. With a shared vision, we're excited to work with Lendahand to uplift Southeast Asian societies."

COVID Challenges

The COVID-19 global pandemic has wreaked havoc on the global economy and caused challenges for businesses small and large, leaving SMEs in emerging markets particularly vulnerable. In a time when many crowdfunding platforms have struggled even operating in mature economies, this partnership is a positive sign for Lendahand's continued service of SMEs in emerging markets.

Koen The explains further: "Since the beginning of the pandemic we keep seeing governments in the West taking measures beneficial only for their own citizens. This directive of the Dutch government makes it clear that we have to look at other solutions. Emerging markets aren't lacking in willing and innovative entrepreneurs eager to roll up their sleeves, take steps forward on their own, and thus, once again, get the economy going. What is lacking, however, are financial injections to support these SMEs."

About Lendahand
Lendahand is the world's largest crowdfunding platform specifically focused on impact investing. With over 80 million euros invested in over 30 countries, Lendahand provides operating capital in the form of debt facilities to qualified SMEs in emerging markets at affordable interest rates, working to fight poverty through sustainable job creation.

About Funding Societies
Funding Societies is the largest SME digital financing platform in Southeast Asia. It is licensed in Singapore, Indonesia and Malaysia, and backed by Sequoia India, Softbank Ventures Asia Corp, and Samsung Venture Investment Corporation amongst many others. It provides business financing to SMEs, which is crowdfunded by individual and institutional investors. In 4 years, it has helped finance over 1.4 million business loans with over S$1.1 billion in funding. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations' ITU Telecom World in 2017, Brands for Good in 2019, recognized by IDC as amongst the 5 fastest growing FinTechs in Singapore, and the Stevie® Award in 2020.

Media Contact

Lily Zhou, Lendahand, +1 2817157929, [email protected]

SOURCE Lendahand

Related Links

http://www.lendahand.com

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.