Funding Societies raises $144m in Series C+ round led by SoftBank Vision Fund 2

Kelvin Teo (left), co-founder and CEO Funding Societies, and Reynold Wijaya, co-founder of the company.

Southeast Asian online lending platform Funding Societies, popularly known as Modalku in Indonesia, has raised $144 million in its Series C+ round and $150 million in debt to fuel its regional expansion, according to a statement on Wednesday.

SoftBank Vision Fund 2 led the oversubscribed Series C+ round with the participation of Vietnamese tech giant VNG Corporation, Rapyd Ventures, EDBI, Indies Capital, Ascend Vietnam Ventures, and existing shareholders Sequoia Capital India and BRI Ventures.

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