Singapore based Funding Societies has announced the expansion of operations into Thailand. The online capital formation platform will operate under a crowdfunding license authorized by the Thai Securities and Exchange Commission.
According to a note from Funding Societies, the company worked for more than a year with regulators to set up operations in the country.
Funding Societies currently operates in Singapore, Indonesia, and Malaysia. Thailand will be the fourth country where the marketplace will operate in its six years of activity. Funding Societies notes that it is the only SME digital financing platform in Southeast Asia to be licensed in four countries.
Thailand is the second-largest economy in Southeast Asia and like many emerging economies in the region, much of Thailand’s GDP comes from small and medium enterprises (SMEs). According to research published by the Asian…
