Lendahand agrees to 5 million euro debt facility for Funding Societies to support under-served SMEs in Southeast Asia

Lendahand, a Dutch-based crowdfunding platform for SMEs in emerging markets, has agreed to provide Singapore-based Funding Societies with up to 5 million euros to invest in underserved SMEs, predominantly in Indonesia, but also including Singapore and Malaysia. Southeast Asia’s leading SME digital financing platform, Funding Societies (known as Modalku in Indonesia) specializes in short-term financing for SMEs, crowdfunded by individual and institutional investors. It is backed by Sequoia India, Samsung (who invested in its tech arm) and Softbank Ventures Asia Corp amongst many other global and regional equity investors.