High investor FOMO about P2P lending in SE Asia: Funding Societies co-founder Kelvin Teo

Funding Societies co-founder Kelvin Teo

Peer-to-peer lending platform Funding Societies recently announced raising $25 million in a funding round led by SoftBank Ventures Korea. The startup had initially planned to raise much less — up to $15 million — but higher investor demand culminated in a bigger round, co-founder Kelvin Teo said in an interview with this portal.

However, some of that investor ardour the startup encountered also came without a knowledge of the lending business or the peculiarities of the Southeast Asia market, he admits.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter