Funding round
Funding Societies Series A
Funding Societies, which works in SME digital financing solutions in Singapore, raised $7.5M in a Series A round announced on 11 Aug 2016, led by Sequoia India. 2 firms took part. It is Funding Societies' first venture round on record.
$7.5M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Funding Societies did not disclose a valuation in this round. It is Funding Societies' first venture round on record, 1 year after it was founded in 2015. It is 2.1% of the $351M Funding Societies has raised in the venture rounds on record. Funding Societies raised again 20 months later: a Series B round of $25M in Apr 2018.
Funding Societies' funding rounds
Funding Societies has 4 venture rounds on record and 4 other deals. This one is highlighted.
- Series A this round 11 Aug 2016, led by Sequoia India $7.5M
- Series B 18 Apr 2018, led by SoftBank Ventures Asia $25M
- Debt not a venture round 7 Oct 2021, led by Helicap and Social Impact Debt Fund $18M
- Series C 16 Feb 2022, led by SoftBank Vision Fund $294M
- Debt not a venture round 22 Aug 2022 $50M
- Debt not a venture round 26 Sep 2023, led by AlteriQ Global $27M
- Debt not a venture round 6 Nov 2024 $100M
- Growth 30 Dec 2024 $25M
Investors
Who put money in
Sequoia India led the round with 1 other firm.
Lead investor
- Sequoia India new investor
Also in the round
- backs 46 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
24 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $5.0M, and this round was 1.5 times the median. The closest in time, other companies' Series A rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Octane Loans & Financing | 3 Aug 2016 | $6.3M | not disclosed | IA Ventures and Berenson & Company |
| Loans & Financing | 29 Aug 2016 | $3.0M | not disclosed | not named |
| Loans & Financing | 11 Jul 2016 | $18M | not disclosed | Union Square Ventures |
| Loans & Financing | 9 Sep 2016 | $1.9M | not disclosed | East Ventures |
| Loans & Financing | 26 Oct 2016 | $6.3M | not disclosed | Sequoia India |
| MPOWER Financing Loans & Financing | 27 Oct 2016 | $6.0M | not disclosed | Zephyr Management |
| Loans & Financing | 17 Oct 2016 | $3.5M | not disclosed | not named |
| Loans & Financing | 1 Jun 2016 | undisclosed | not disclosed | not named |
Questions
Frequently asked
How much did Funding Societies raise in its Series A round?
Funding Societies raised $7.5M in its Series A round, announced in Aug 2016.
Who led Funding Societies' Series A round?
Sequoia India led it, with Alpha JWC Ventures.
What was Funding Societies' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Loans & Financing?
24 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $5.0M, and this round was 1.5 times the median.
Did Funding Societies raise again after this round?
Yes: a Series B round in Apr 2018 of $25M.