Funding Societies, the largest SME digital finance platform in Southeast Asia, has successfully raised $27 million in debt funding. The funding round was led by private credit financier AlteriQ Global, with contributions from multi-family office Aument Capital Partners (ACP) and sustainability-focused fund Orange Bloom. The funds will be used to support underserved SME segments in the five markets where Funding Societies operates by providing tailored financing solutions. With SMEs constituting 99% of establishments in Southeast Asia and contributing to 44.8% of the region’s GDP, Financing Societies aims to address the financing challenges faced by these businesses, which amount to a $300 billion gap. By expanding its range of services, such as payments and collections, Funding Societies aims to assist SMEs in maintaining business cash flow. The company has provided over $3.2 billion in business financing, processed more than 5 million transactions, and supported approximately 100,000 SMEs in the region. The collaboration with AlteriQ Global, ACP, and Orange Bloom aligns with Funding Societies’ commitment to sustainability, with the company implementing an Environmental and Social Management System (ESMS) earlier this year.
Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it