SEA Digest: Modalku's loan disbursements jump 70%; GoFood's Vietnam business grows

SEA Digest: Modalku's loan disbursements jump 70%; GoFood's Vietnam business grows

Online lending platform Funding Societies, known as Modalku in Indonesia, posted a 70% growth in loan disbursements in H1 2022 while Gojek, Southeast Asia’s on-demand platform, posted a growth in users and sales of GoFood in Vietnam.

Modalku loan loan disbursements up 70% in H1

Online lending platform Funding Societies, known as Modalku in Indonesia, disbursed 7.2 trillion rupiah ($480.47 million) worth of loans in the first half of 2022 to SMEs in five countries — Indonesia, Singapore, Malaysia, Thailand and Vietnam. This is a 70% increase from the 4.2 trillion rupiah ($280.27 million) disbursed in the first six months of last year.

Bring stories like this into your inbox every day.

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