Kelvin Teo

  • Current company Funding Societies
  • Location Indonesia
  • Industry Fintech

Funding Societies – Modalku is an online platform that connects investors with small businesses that need funds, solving the financial inclusion issue by making credit-worthy SMEs bankable. The company is the first digital financing platform that got operating licenses from regulators in Singapore, Indonesia and Malaysia. Most recently the company raised a $40M Series C, which will be used for applying for a Digital Bank license, market entry into Thailand and achieving profitability. So far, the company has disbursed loans of more than $1.08 billion for MSMEs in Indonesia, Singapore, Malaysia and Thailand. Indonesia accounted for around 60 percent of the total loan disbursement.

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