FintekNews Deal of the Day – Funding Societies Receives $7.5M

Yesterday we mentioned that we had a difficult time deciding which VC deal to feature, as there were several great ones.  Today we decided to revisit one of them, as it was just too cool to pass up. 

Two recent Harvard Biz School grads have just landed a Series A round for their P2P platform, Funding Societies, focusing on funding business loans in South East Asia.  The firm is Singapore-based and received funding from Sequoia Capital and Jakarta-based Alpha JWC Ventures.  The two co-founders invested personal capital early on, and the platform is really quite interesting and focuses on investing in Small and Medium Enterprises (SMEs).  The co-founders also personally invest in every single loan they put on the platform.  Minimum deposit is $1,000.  The firmis still fairly new and has funded just $8.7M in loans to date, per their website, but one can imagine that they will grow quickly under the guidance of these impressive young entrepreneurs.

Total Equity Funding
$7.5M in 1 Round from 2 Investors

Most Recent Funding
Series A on August 4, 2016

Read Full Listing at Crunchbase