Singapore’s leading corporate service provider InCorp Global is partnering Southeast Asia’s biggest peer-to-business lending platform, Funding Societies. This strengthens InCorp’s suite of client offerings, by providing alternative financing options to support SMEs’ growth in Singapore and the region.
The partnership will give access to InCorp’s client network to fast, customizable and unsecured business loans at competitive rates. These include working capital loans and invoice financing. Funding Societies provides its robust product and technology, as well as a funding source in this collaboration.
Notably, the fintech start-up has crowdfunded >S$600m regionally since its inception in 2015, with a 100% loan fulfillment rate to date. Funding Societies holds a Capital Market Services License issued by the Monetary Authority of Singapore and is backed by Softbank Ventures Asia Corp. and Sequoia India. It was also named Fintech Top 100 by KPMG in 2018; Best Customer Experience by Retail Banker in 2017; and awarded the MAS Fintech Award (SME Category) in 2016.
Commenting on this collaboration, Eric Chin Group Head of Business Development at InCorp noted, “Funding is a frequent issue for new and upcoming startups, as well as SMEs. InCorp Group, as a leading corporate service provider and advisor to more than thousands of companies in Singapore, believes in creating a trusted and reliable ecosystem of partners for our clients to have access to. Besides traditional banking channels, this important partnership benefits InCorp’s clients in Singapore to have additional options to seek short term financing for their businesses at a fast, safe and efficient manner with a prominent P2P business lending platform.”.
Kelvin Teo, co-founder and CEO of Funding Societies, also shared, “We are excited to partner with InCorp Global. This collaboration will enable SMEs to access fast and customised financing, along with key corporate secretarial services, both of which are necessities to SMEs.”