Funding Societies crosses THB 1 Billion milestone loan disbursements to SMEs in Thailand

Funding Societies crosses THB 1 Billion milestone in

loan disbursements to SMEs in Thailand

SME digital lender hits milestone within 11-month period for 2022, aims to double loan disbursement in the next 12 months

Caption: Funding Societies Thailand Team with leadership team (front row, center three)

(Left) Hill Pruksananont, Head of Business Development; Synn Navamananda, Country Head,

and Vikas Jain,Chief Operating Officer of Funding Societies Thailand.

Bangkok, Thailand, 30 November 2022 – Funding Societies, Southeast Asia’s largest Small and Medium Enterprise (SME) digital financing platform, today announced it has reached THB 1 billion in loan disbursements to businesses in Thailand for year-to-date (YTD) 2022. The FinTech looks to expand its reach to financing SMEs in new business segments, as it targets aggressive growth of over THB2 billion in loan disbursements, in the next 12 months.

Since entering the market in February 2021, Funding Societies has been widening the access to financing for business owners, in line with the country’s next phase of growth under the Thai government’s ‘Thailand 4.0’ economic model, by leveraging technology to better serve the needs of the country’s SMEs.

Remarking on the milestone achievement, Synn Navamananda, Country Head of Funding Societies Thailand said, “Reaching the THB1 billion milestone is a testament to the confidence Thai SMEs have put in us and the great effort our team has demonstrated throughout this year. We have seen a steady increase in terms of customer satisfaction where many of our borrowers showed satisfaction with ease of application for financing with Funding Societies.”

“Thailand’s SMEs have the potential to contribute more to our country’s GDP in the coming years and remain resilient despite the macroeconomic challenges. We intend to continue efficiently leveraging technology to expand our range of financing solutions to extend and better serve businesses beyond the greater Bangkok metropolitan area, working towards our vision to empower Thai SMEs to grow their businesses through tailored solutions that are fast, affordable and convenient,” added Navamananda.

As the backbone of the economy, Thai SMEs represent over a significant portion of the country’s GDP, making up 99% of all enterprises in Thailand, equivalent to over 3.1 million businesses. However, the majority of these businesses face multiple challenges in obtaining financing, especially to meet short-term working capital requirements. These include lack of loan collateral, arduous documentation requirements, and lengthy approval process. This further restricts SMEs from accessing financing via traditional institutions like brick-and-mortar banks, and subsequently, contributed to the staggering SME financing gap of more than US$40 billion (THB1.51 trillion).


Funding Societies is also licensed in Singapore, Indonesia (known as Modalku), registered in Malaysia, and operates in Vietnam. Since its inception in 2015, the company has a track record

of over US$2.9 billion (approximately over THB 103 billion) in loan disbursement through more than 5.1 million transactions across the region. The FinTech provides a range of collateral-free

financing to support business expansion, working capital needs, or upfront project costs. An application with the SME digital lender typically takes approximately one week from submission to approval.

The company also caters to Thai retail investors by giving them an opportunity to diversify their investments and earn attractive fixed income returns of up to 15% per annum before fees, with a minimum investment of THB10,000 while simultaneously supporting small businesses and helping local communities grow via Funding Societies’ investment platform. It was one of the first fintech companies in Thailand to be awarded the debt crowdfunding license from Thailand’s Securities and Exchange Commission (SEC).

Find out more about Funding Societies at

About Funding Societies

Funding Societies under FS Siam Co., Ltd, is the largest SME digital financing platform in Southeast Asia. In Thailand, it launched in February 2021 and was amongst the first FinTech companies to be awarded the debt crowdfunding license by Thailand’s Securities and Exchange Commission.

It is also licensed in Singapore, Indonesia (known as Modalku), registered in Malaysia, and operates in Vietnam. The FinTech company provides business financing to small and medium-sized enterprises (SMEs), with a track record of US$2.9 billion, annualising at US$1.1 billion. Its recent strategic milestones

include its acquisition of regional digital payments platform CardUp (subject to regulatory approval) and co-investment into Bank Index in Indonesia.

Funding Societies is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, BRI Ventures, VNG Corporation, Rapyd Ventures, Endeavor, EBDI, SGInnovative, Qualgo, and Golden Gate Ventures among others. It was given the MAS FinTech Award in 2016, the Global SME Excellence Award at the United Nations’ ITU Telecom World in 2017, KPMG Fintech100 in 2018, Brands for Good in 2019, and ASEAN Startup of the Year by Global Startup Awards in 2020. In 2021, it won the MAS Fintech Award for the second time, and received the Platinum award for Responsible Digital Innovator of the Year at the 2022 Global SME Finance Award organised by IFC (under the World Bank Group). For more information, please visit

Media Contact

TQPR Thailand Funding Societies

Maetavarin Maneekulpan                  Jittin Puntusoonthron

TQPR Thailand Marketing Manager, Thailand                    

02 260 5820 085 444 3002

Joachim Leong

Regional Public Relations, Assistant Manager

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