December 15, 2021Asia
Funding Societies: Survey reveals 72% of MSMEs in SEA boosted revenue with digital financing
Funding Societies, Southeast Asia’s largest SME digital financing platform, today released its regional Impact study. Its 2020 survey measures the social and economic impact of its funding to Funding Societies-linked MSMEs (micro, small and medium-sized enterprises) in 2018 and 2019 across Singapore, Indonesia, and Malaysia. 72% of the respondents said their revenues would decrease if not for FinTech’s business financing. In its six years of operations, Funding Societies has financed over US$1.8 billion through more than 4.8 million loans to nearly 100,000 MSMEs in the region.
The SME lender offers micro loans from US$500 up to US$1.5 million, which can be disbursed in as fast as 24 hours, answering in a timely manner to SMEs who face the pertinent challenge of accessing business funds.
