Funding Societies Joins Prestigious IACPM and Welcomes Risk Expert Terry Tse to Board of Directors

Moves affirm platform's commitment towards world-class risk management
2017-08-15 12:07 5475

SINGAPORE, Aug. 15, 2017 /PRNewswire/ -- Funding Societies has become the first and the only peer-to-peer (P2P) lending company to attain membership at the International Association of Credit Portfolio Managers (IACPM), a prestigious forum for credit risk management. In addition, risk expert Terry Tse joins Funding Societies' Board of Directors. Mr. Tse is the former Chief Risk Officer of Dianrong -- one of China's leading P2P lending platforms.

Terry Tse joins in the Board of Directors at Funding Societies
Terry Tse joins in the Board of Directors at Funding Societies

Together with sister platform Modalku, Funding Societies is currently the biggest SME loan crowdfunding platform in Southeast Asia, with operations in Singapore, Indonesia, and Malaysia. Recently, Funding Societies has also become the only Southeast Asian digital lender to be selected by CB Insights to the Fintech 250, a list of 250 top private companies changing the face of financial services around the world.

Kelvin Teo, co-founder and CEO of Funding Societies said, "We believe in cutting-edge innovation. As FinTech is a knowledge-intensive industry, being admitted into IACPM enables us access to credit portfolio research and forums with leading banks and financial institutions such as Goldman Sachs, DBS and Citigroup for continuous innovation."

"We are also honoured to have world-class risk expert Terry onboard. His vote of confidence and guidance are invaluable, as we mature into a world-class platform for the safety of our investors and service to our SME borrowers," he added.

Before serving Dianrong, Terry Tse has also spent many years in consulting and banking with Oliver Wyman and Deutsche Bank respectively. He currently serves as the Senior Vice President of Lian Lian Pay and is responsible for its international business development.

Funding Societies connects Singapore SMEs with investors through an online marketplace. Individuals and institutions can invest into SME loans and earn returns of up to 14% per year, higher than typical deposits, bonds and traditional instruments. Meanwhile, SME borrowers can obtain up to SGD 1 million in unsecured loans and invoice financing, through a simple online process with fast approval. As of July 2017, Funding Societies has crowdfunded more than SGD 50 million and 700 SME loans in Southeast Asia.

About Funding Societies

Founded in 2015, Funding Societies offers a digital platform that enables SMEs to get unsecured loan and invoice financing, crowdfunded by individual and institutional investors. It is licensed and operational in Singapore, Malaysia and Indonesia, where it is known as Modalku. Backed by Sequoia Capital, it has been recognized by various institutions as a leading start-up and is one of the largest digital lending platforms in Southeast Asia. It believes in helping the under-served and making a positive impact in Southeast Asia.

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Vikas Jain,
Marketing Director
O: (65) 62210958
M: (65) 97215431

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Source: Funding Societies