Funding round
Funding Societies Series B
Funding Societies, which works in SME digital financing solutions in Singapore, raised $25M in a Series B round announced on 18 Apr 2018, led by SoftBank Ventures Asia. 6 firms took part. It is Funding Societies' second venture round on record; the one before was a Series A in Aug 2016.
$25M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Funding Societies did not disclose a valuation in this round. It came 20 months after Funding Societies' Series A. It is 7.1% of the $351M Funding Societies has raised in the venture rounds on record. Funding Societies raised again 46 months later: a Series C round of $294M in Feb 2022.
Funding Societies' funding rounds
Funding Societies has 4 venture rounds on record and 4 other deals. This one is highlighted.
- Series A 11 Aug 2016, led by Sequoia India $7.5M
- Series B this round 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
SoftBank Ventures Asia led the round with 5 other firms.
Lead investor
- backs 53 venture-backed companies new investor
Also in the round
- Sequoia India new investor
- backs 46 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- LINE Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
25 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $18M, and this round was 1.4 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 5 Apr 2018 | $30M | not disclosed | World Innovation Lab |
| Loans & Financing | 20 Apr 2018 | $23M | not disclosed | SoftBank Ventures Asia |
| Loans & Financing | 28 Mar 2018 | $70M | not disclosed | Trinity Ventures |
| Loans & Financing | 26 Jun 2018 | $40M | not disclosed | F-Prime Capital |
| Gojo Loans & Financing | 29 Jun 2018 | $17M | not disclosed | not named |
| Loans & Financing | 19 Jun 2018 | $14M | not disclosed | Airtree |
| Octane Loans & Financing | 1 Jan 2018 | $41M | not disclosed | Valar Ventures |
| Loans & Financing | 4 Jan 2018 | $16M | not disclosed | Eight Roads |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Funding Societies raise in its Series B round?
Funding Societies raised $25M in its Series B round, announced in Apr 2018.
Who led Funding Societies' Series B round?
SoftBank Ventures Asia led it, with Sequoia India, Alpha JWC Ventures, Golden Gate Ventures, Qualgro and LINE Ventures.
What was Funding Societies' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
25 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $18M, and this round was 1.4 times the median.
Did Funding Societies raise again after this round?
Yes: a Series C round in Feb 2022 of $294M.