Gobi Partners Backs Funding Societies to Advance  SME Financing and Fintech Innovation Across Thailand and ASEAN

FS Capital, direct lending arm of Funding Societies, one of Southeast Asia’s largest digital financing platforms for SMEs, has officially become a member of the National Credit Bureau (NCB), Thailand. This milestone reflects Funding Societies’ strategic vision to elevate its role from a digital lending provider to a structural financial partner, unlocking greater access to funding for Thai SMEs.

Funding Societies | Modalku (Funding Societies), the largest SME digital finance platform in Southeast Asia, has announced a strategic equity investment from Gobi Partners, an Asia-focused venture capital firm. This investment underscores strong investor confidence in Funding Societies’ business model, resilience, and commitment to bridging the region’s SME credit gap, even amid broader fintech market challenges.

The investment comes at a time when lenders and investors have become increasingly cautious toward fintech firms following industry challenges. Gobi Partners’ backing reinforces Funding Societies’ financial stability and continued growth over the past decade in SME financing and its foray into payments since 2022 – distinguishing it as a trusted, well-managed platform for underserved businesses across the region.

Kelvin Teo, Co-founder and Group CEO of Funding Societies, said, “We are honoured to receive this strategic investment from Gobi Partners. At a time when market conditions have led to increased caution toward fintech firms, this partnership is a testament to our strong fundamentals and commitment to financial inclusion. SMEs remain the backbone of Southeast Asia’s economy, and we will continue to be dedicated to providing them with accessible and responsible financing solutions to help them grow and thrive.”

Vikas Jain, Country Head of Funding Societies Thailand, said,“The strategic investment from Gobi Partners further strengthens our capabilities to support underserved but credit-worthy SMEs in Thailand. Through customised financial solutions, we aim to help businesses in their growth journey by providing them with capital as they need it and when they need it. This year, we target 30% growth, focusing on industries and sectors with a positive outlook and meeting the funding needs for their new projects. ”

Driving SME Lending and Fintech Innovation

As Southeast Asia’s SME sector continues to face a significant credit gap – estimated at over US$2.5 trillion – Funding Societies remains at the forefront of delivering innovative financing solutions tailored to small and medium-sized enterprises. This investment from Gobi Partners will help further enhance Funding Societies’ technology-driven approach, leveraging AI and automation to streamline lending processes and improve risk management.

Thomas G. Tsao, Co-founder and Chairperson of Gobi Partners, commented, “Funding Societies has consistently demonstrated strong execution and resilience in SME financing, making a meaningful impact on businesses across the region. Our investment underscores our confidence in their ability to navigate economic cycles, drive fintech innovation, and continue closing the SME credit gap. We are excited to partner with them on this journey to strengthen financial inclusion across Southeast Asia.”

Strengthening Financial Inclusion and Economic Growth

Despite economic uncertainties, Funding Societies remains committed to its mission of empowering SMEs with tailored digital financial products that address their evolving needs. The company has already disbursed over US$4 billion (over THB 140 billion) in business financing to approximately 100,000 SMEs, and processed an annualised payments gross transactions value (GTV) of over US$1.4 billion(over THB 50 billion). As digital financial services remain a key driver of financial inclusion in the region, the partnership with Gobi Partners will enable Funding Societies to expand its reach and continue supporting SMEs that drive local economies.

Funding Societies is well-positioned to maintain its trajectory of growth while upholding responsible lending practices that ensure long-term sustainability with the strong backing from investors and lenders from the successful milestones achieved in 2024. This includes equity investments from Cool Japan Fund and Maybank, and a third annual credit facility from HSBC’s ASEAN Growth Fund which is part of an accumulative commitment of over US$100 million (over THB 3.4 billion) credit facility with the bank.