Fake default rates
Default rates are higher than advertised. Most loans have zero chances of recovery. Scam.
Funding Societies
Published by: FS Technologies Pte
Description
Funding Societies | Modalku is the largest SME digital financing and debt investment platform in Southeast Asia. Investors, including individuals and institutions jointly invest in financing to SMEs and earn returns in the form of interests. Diversify your investment portfolio by investing in creditworthy local SMEs.
No minimum balance. Low minimum investment amount. Short term & periodic repayments. No hidden fees, no withdrawal fees, investors just pay a one-time fee when they earn interest.
Backed by Sequoia India, Softbank Ventures Asia Corp, SGInnovate, and many others, Funding Societies has facilitated over S$2.38B worth of business loans. Since its launch, it has received multiple awards:
MAS FinTech Award (2016)
Global SME Excellence Award at the United Nations’ ITU Telecom World (2017)
Brands for Good (2019)
The 5 fastest growing FinTechs in Singapore by IDC (2020)
Stevie® Award for Innovation in Technology (2020)
ASEAN Startup of the Year by Global Startup Awards (2020)
Types of Investment Products (Might vary by countries)
Guaranteed Returns:
Guaranteed Property-backed Investment
Guaranteed Returns Investment
Asset-backed:
Property-backed Secured Investment
Dealer Financing Investment
Others:
Invoice Financing Investment / Accounts Payable Financing Investment/ Accounts Receivable Financing Investment
Revolving Credit Investment
Business Term Investment
Key Features
Investment starts from S$20 in Singapore, RM100 in Malaysia, Rp100,000.00 in Indonesia and THB10,000 in Thailand
Re-invest quickly with regular repayment for most products
Investment tenor up to 12 months (Singapore) and 24 months (Malaysia, Indonesia and Thailand)
Investors’ funds are kept in a 3rd party escrow account
Advocate ‘Skin in The Game’ philosophy by investing into the notes put up on our platform alongside our investors
Set up Auto Invest / Planned Funding and let the system automatically deploy funds for you based on your investment preferences
Individual Singaporean investors in Singapore can enjoy tax exemption on the interest returns from year 2020 onward
Pricing aligned with investors’ interests
We charge one simple and all inclusive fee from the total interest earned. Investors only pay the service fee when they receive their repayments from the SMEs.
Singapore: 18% of Interests
Malaysia: Varies across products (Business Term - 2% p.a. of Principal and Interests; Others - 15%-30% of Interests)
Indonesia: 3% p.a. of Principal and Interests
Thailand: 3% p.a. of Principal and Interests
Steps to Sign Up
Step 1: Register for an account
Step 2: Fill in the required information (Usage of MyInfo is available in Singapore)
Step 3: Make an initial deposit to activate your account (S$20 in Singapore, RM100 in Malaysia, Rp100,000.00 in Indonesia)
Step 4: Start investing
Disclaimer:
All investments carry risks. Please ensure that you fully understand the risks involved by reading the Risk Disclosure Statement. The provided images are for display purposes only and are not representative of actual results.
Funding Societies Singapore (Funding Societies Pte. Ltd.)
Licensed by the Monetary Authority of Singapore (MAS) - CMS100572
Please contact [email protected] or call us at +65 6221 0958
Funding Societies Malaysia (Modalku Ventures Sdn Bhd)
Licensed by the Securities Commission Malaysia (SC) - 1190266X
Please contact [email protected] or call us at +603 2202 1013
Modalku (PT Mitrausaha Indonesia Grup)
Licensed by the Indonesia Financial Services Authority (OJK) - 77/POJK.01/2016
Please contact [email protected] or call us at +62 878 6500 8311
Funding Societies Thailand (FS Siam Co., Ltd.)
Licensed by the Securities and Exchange Commission (SEC)
Please contact [email protected] or call us at +66 93 139 9721
Operating hours: Monday to Friday, 9:00 AM to 6:00 PM (excl. public holidays observed in the respective countries)
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No minimum balance. Low minimum investment amount. Short term & periodic repayments. No hidden fees, no withdrawal fees, investors just pay a one-time fee when they earn interest.
Backed by Sequoia India, Softbank Ventures Asia Corp, SGInnovate, and many others, Funding Societies has facilitated over S$2.38B worth of business loans. Since its launch, it has received multiple awards:
MAS FinTech Award (2016)
Global SME Excellence Award at the United Nations’ ITU Telecom World (2017)
Brands for Good (2019)
The 5 fastest growing FinTechs in Singapore by IDC (2020)
Stevie® Award for Innovation in Technology (2020)
ASEAN Startup of the Year by Global Startup Awards (2020)
Types of Investment Products (Might vary by countries)
Guaranteed Returns:
Guaranteed Property-backed Investment
Guaranteed Returns Investment
Asset-backed:
Property-backed Secured Investment
Dealer Financing Investment
Others:
Invoice Financing Investment / Accounts Payable Financing Investment/ Accounts Receivable Financing Investment
Revolving Credit Investment
Business Term Investment
Key Features
Investment starts from S$20 in Singapore, RM100 in Malaysia, Rp100,000.00 in Indonesia and THB10,000 in Thailand
Re-invest quickly with regular repayment for most products
Investment tenor up to 12 months (Singapore) and 24 months (Malaysia, Indonesia and Thailand)
Investors’ funds are kept in a 3rd party escrow account
Advocate ‘Skin in The Game’ philosophy by investing into the notes put up on our platform alongside our investors
Set up Auto Invest / Planned Funding and let the system automatically deploy funds for you based on your investment preferences
Individual Singaporean investors in Singapore can enjoy tax exemption on the interest returns from year 2020 onward
Pricing aligned with investors’ interests
We charge one simple and all inclusive fee from the total interest earned. Investors only pay the service fee when they receive their repayments from the SMEs.
Singapore: 18% of Interests
Malaysia: Varies across products (Business Term - 2% p.a. of Principal and Interests; Others - 15%-30% of Interests)
Indonesia: 3% p.a. of Principal and Interests
Thailand: 3% p.a. of Principal and Interests
Steps to Sign Up
Step 1: Register for an account
Step 2: Fill in the required information (Usage of MyInfo is available in Singapore)
Step 3: Make an initial deposit to activate your account (S$20 in Singapore, RM100 in Malaysia, Rp100,000.00 in Indonesia)
Step 4: Start investing
Disclaimer:
All investments carry risks. Please ensure that you fully understand the risks involved by reading the Risk Disclosure Statement. The provided images are for display purposes only and are not representative of actual results.
Funding Societies Singapore (Funding Societies Pte. Ltd.)
Licensed by the Monetary Authority of Singapore (MAS) - CMS100572
Please contact [email protected] or call us at +65 6221 0958
Funding Societies Malaysia (Modalku Ventures Sdn Bhd)
Licensed by the Securities Commission Malaysia (SC) - 1190266X
Please contact [email protected] or call us at +603 2202 1013
Modalku (PT Mitrausaha Indonesia Grup)
Licensed by the Indonesia Financial Services Authority (OJK) - 77/POJK.01/2016
Please contact [email protected] or call us at +62 878 6500 8311
Funding Societies Thailand (FS Siam Co., Ltd.)
Licensed by the Securities and Exchange Commission (SEC)
Please contact [email protected] or call us at +66 93 139 9721
Operating hours: Monday to Friday, 9:00 AM to 6:00 PM (excl. public holidays observed in the respective countries)
Screenshots
User Rating
4.21 out of 5
237 ratings in Singapore
5 star
155
4 star
35
3 star
15
2 star
5
1 star
27
Ratings History
Funding Societies Installs
Last 30 daysFunding Societies Revenue
Last 30 daysFunding Societies Reviews
App lags very badly. Unable to login at times
For some reason, the app starting lagging really badly after I changed phone. I made sure the app was update and all but still no use. Every other app on my phone works fine. So no idea what’s wrong with this app. Apart from that, returns of the loans going down even while we’re in an inflationary environment
Mobile APP
Keep jumping out after log in
Keep refresh page when register
Register, and when sending otp, click email notification, and when back to app it showed me login screen instead, tried 4 times, all 4 times the same, everytime move screen the app directly change from insert otp pages to login.
Intuitive to use
Could improve by using different colour for completed and ongoing under funding now section
No integrity and lack of transparancy
As a user, please becareful that lots of loan available here are actually from the same borrower that split into multiple contract.. you may having lots of contract end yet no diversification in your portfolio Second, their profit return is calculated based on your income from load, any principle default amount from your loan will not be reflected into your "annualized performance".. so you may see high "net income" yet in fact you are making lost
TouchID
Hard time to login after touchid aurhenticated
Misleading statistics
Got unlucky and had 40% of my principal defaulted. I understand the risks involved and I don’t blame Funding Societies for the loss. However, despite incurring this loss, my account page shows my annualized returns as 10%, which is simply not true. My returns are negative and it should be reflected as such. I don’t understand how this 10% is calculated and is clearly a misrepresentation of the performance of this investment.
Default rate is understated
All investments carry risks, yada yada, that I can accept. But the default rate on the app is really understated by way of some accounting/definitional wizardry. All I can say is, invest at your own risk.
Lost a lot of money in this
Was very bullish on their value proposition in the beginning but have lost significant amount of money to defaults so not planning to go back. The app is really good though.
Store Rankings
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Funding Societies Revenue and Downloads
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App Info
- Category
- Finance
- Publisher
- FS Technologies Pte
- Languages
- English, Indonesian
- Recent release
- 3.8.2 (4 days ago )
- Released on
- May 3, 2016 (8 years ago )
- Also available in
- Malaysia, Singapore, United States, Australia, Thailand, China, India, United Kingdom, Germany, Hong Kong SAR China, France, Vietnam, Netherlands, Japan, Philippines, Canada, Poland, Portugal, Russia, Sweden, Peru, Argentina, Norway, Türkiye, Nigeria, South Africa, Egypt, Brazil, Belarus, Switzerland, Chile, Colombia, Czechia, Dominican Republic, Algeria, Mexico, Spain, Finland, Italy, South Korea, Kuwait, Lebanon, Indonesia
- Last Updated
- 10 hours ago