Funding Societies is a remarkable, Singapore-based startup that uses its crowdfunding platform to raise loans for small businesses. So far, the company has generated over 12,000 loans amounting to more than S$243 million for SMEs in Singapore. This platform has been very successful in generating contributions from individual investors, which is due in part to its extremely low default rate of about 1%. We reached out to Funding Societies to learn more about their journey from the inception of their idea at Harvard Business School to becoming one of the largest crowdfunding platforms in Singapore. Additionally, we think that their experiences would be useful to any of our readers from casual tech enthusiasts to aspiring entrepreneurs.

When did Funding Societies begin its operations?

The platform was launched in June 2015 and the first deal that month was S$100K to an engineering company. This was one of the fastest having …