SME lending in South East Asia
Originally @ Lending Times Funding Societies is setting out at a breathtaking pace to reshape small business finance across southeast Asia. The wave of peer to peer lending that has seen notable success across the US and Europe has yet to crest in many other markets. However, predicated on the models of companies that created an online business lending market worth an estimated $ 230 billion in 2015, Funding Societies is aiming to change that. We got a chance to sit down with Kelvin Teo , the co-founder of Funding Societies. As he describes it, his dynamic company had humble beginnings as a project at Harvard Business School. “My first co-founder Reynold Wijaya and I launched a peer-to-business (“P2B”) lending platform in Singapore at the dorms of Harvard in early 2015,” explains Teo, “Iwan Kurniawan later joined us and started Funding Societies Indonesia (also known as Modalku or My Capital in Bahasa language), and Wong Kah Meng soon came onboard with Funding Societies Mala