Funding Societies Thailand head Varun Bhandari
Funding Societies launches a crowdfunding platform
The crux: Funding Societies, an online lending platform for small and medium enterprises (SMEs) in Southeast Asia, has launched a crowdfunding platform in Thailand. It has also received an equity investment from 500 TukTuks and other investors.
Other details: Funding Societies will provide Thai SMEs with flexible lending products to meet their working capital and expansion needs, such as invoice financing, purchase order financing, project financing and term loans of up to THB 50 million (US$1.5 million).
Also Read: Funding Societies lands US$18M debt fund, on track to raise US$120M
About Funding Societies: Established in 2015, Funding Societies provides MSMEs with business financing. It harnesses the power of technology to give underserved yet creditworthy MSMEs financial access through its digital platform. To date, it claims to have supported over 70,000 SMEs in Singapore, Malaysia, and Indonesia with over US$1.7 billion in funding.
This comes close on the heels of Funding Societies’s US$18 million debt funding led by Helicap Investments, Social Impact Debt Fund, and an unnamed Japanese financial services group.
Shoplinks raises US$900K to bring digital coupons to Southeast Asia
The crux: Shoplinks, an FMCG precision marketing platform, today announced a US$900,000 seed funding round.
Investors: Cocoon Capital (lead) and Indonesian Women Empowerment Fund.
Plans with the capital: Shoplinks will use the funds to strengthen its foothold in Indonesia before expanding into other Southeast Asian markets. Additionally, the funds will be used to grow its team and invest more in product development.
The company also plans to expand its network of partners in both enterprise retail and ‘warungs’2, the mom-and-pop stores that account for 70 per cent of Indonesia’s retail spend.
About Shoplinks: It offers FMCG brands and retailers an intelligent, digital end-to-end marketing platform that simplifies the distribution of personalised coupons. This helps brands optimise their promotions and shoppers to claim great deals both online and offline.
Since its launch in 2020, Shoplinks has been working with major FMCG brands such as Procter and Gamble, Unilever and Johnson and Johnson, processing thousands of redemptions per month.
MatchMde appoints Mike Abbott as CFO
The crux: Technology-driven and science-based dating platform MatchMde has appointed Mike Abbott as chief financial officer. He will be responsible for strategising and planning MatchMde’s financial journey as well as fundraising.
Who is Abbott: He brings with him about three decades of commercial experience, spanning four continents and various industries, and his startup experience includes blockchain/digitalised assets, and a maritime tech platform.
About MatchMde: MatchMde is a dating platform that leverages technology and science to help singles develop meaningful connections. It creates a secure environment and makes possible genuine opportunities for people to make authentic and deeper connections through thoughtfully curated and compatible matches.
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Image Credit: Funding Societies
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