Fintech PR

Funding Societies Surpasses SGD 1 Billion in SME Lending

Published

5 years ago

November 27, 2019

(From left to right) Kelvin Teo and Reynold Wijaya co-founded Funding Societies in 2015

Funding Societies, the leading SME digital financing platform in Southeast Asia, is ending an eventful year by crossing the SGD 1 billion mark in SME loans. In line with the platform’s goal of responsible growth, Funding Societies expanded its loan volume by 3 times in the last 12 month while maintaining a default rate of 1.5%. This is the highest amount given out by any SME digital financing platform in Southeast Asia.

With presence in Singapore, Indonesia and Malaysia, Funding Societies has facilitated more than 1 million business loans to SMEs through a base of more than 150,000 individual and institutional investors in the last 4 years since inception in 2015.

The growth in SME loans with Funding Societies is reflective of the increasing openness amongst businesses towards new generation funding options. As per the EY, UOB and Dun and Bradstreet report ‘Asean SMEs – Are you transforming for the future’, 67.8% of the SMEs are now open to non-traditional lenders including lending platforms. Alternative financing providers like Funding Societies are addressing this segment by providing technology backed funding solutions for the growth of local businesses.

Kelvin Teo, Co-Founder and Group CEO of Funding Societies, commented, “What SMEs need is not subprime banking, but a different banking. We’re honored to have partnered with many SMEs in their growth journey. It hasn’t been easy, as SME financing is a patient business. We hope to work even closer with SMEs in 2020, in line with our belief of ‘stronger SMEs, stronger societies’ since 2015.”

Funding Societies specialises in all forms of short-term unsecured financing up to S$2 million, with funds disbursed as early as the next day. Funding Societies’ SME clientele ranges from micro businesses and SMEs to small listed companies looking for working capital financing. For platform investors, the minimum amount is low starting from SGD 20 per investment. Other than individuals Funding Societies also has regulated financial institutions and funds who invest into loans on the platform.

SOURCE Funding Societies

Related Topics:Kelvin Teo latest-news SME

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Hon Hai Technology Group (Foxconn) Completes Independent Audits At 9 More Manufacturing Sites

Published

2 hours ago

April 1, 2025

CISION (PR Newswire)

Demonstrating verified compliance with RBA VAP standards

TAIPEI, April 1, 2025 /PRNewswire/ — Hon Hai Technology Group (“Foxconn”) (TWSE:2317) has completed independent, third-party audits of nine manufacturing campuses covering five countries, demonstrating, for a second year, a commitment to critical compliance and transparency in social and environmental responsibility by the world’s largest electronics manufacturing service provider.

No priority findings were assessed for the most part in the audits conducted under the Responsible Business Alliance Validated Assessment Program (RBA VAP), an industry standard that recognizes a factory’s commitment to social and environmental responsibility and focuses on verified closure of issues identified in a VAP assessment.

The audits covered Foxconn manufacturing sites in China, Vietnam, Malaysia, India and Mexico, showing an overall compliance rate of 89%. The Quang Chau campus in Vietnam’s Bac Giang province was recognized at a Silver level under RBA VAP, outperforming the average score in the local industry.

According to RBA, customers, investors, governments and other stakeholders consider the verified closure of audit findings critical to demonstrating compliance to their requirements. To enhance sustainability in Foxconn’s operations and serve as a global best-practice model, the audits in 2024 also focused on campuses needing to strengthen third-party checks based on comprehensive assessment of their operational complexity, employee size, and past record in third-party audits. Audit areas covered labor rights, occupational health and safety, environment, ethics, supply chain management and interviews with 1,067 employees. Total scope included 210,000 employees and took the equivalent of 96 man-days.

No priority findings were assessed, with the exception of one priority non-compliance in supply chain management due to overtime hours of an outsourced service provider, which has been addressed. The compliance rates for environment and ethics each reached over 97%, while those for labor, health and safety, and supply chain management each reached over 80%. Findings indicated a need to strengthen the management of the ratio of dispatched workers, overtime hours, calculation for social insurance and on-time severance payment, as well as attention to the on-site working environment in India.

By end 2024, RBA VAP audits have been done at 58 sites with 8 recognized at Platinum level, 17 at Gold, and 20 at Silver. The first audits in 2023 covered eight sites in China and India.

About Foxconn here.

Logo – https://mma.prnewswire.com/media/2613004/Foxconn_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/hon-hai-technology-group-foxconn-completes-independent-audits-at-9-more-manufacturing-sites-302417037.html

Fintech PR

Aliplast boosts recycled PET: PET recycling site acquired from Gurit Italia

Published

2 hours ago

April 1, 2025

CISION (PR Newswire)

aliplast-boosts-recycled-pet:-pet-recycling-site-acquired-from-gurit-italia

BOLOGNA, Italy, April 1, 2025 /PRNewswire/ — The Hera Group subsidiary, a European leader in plastic regenerating, has integrated Gurit Italia’s Carmignano di Brenta plant dedicated to PET recycling, an investment that looks towards the growth of an increasingly important market

Incremental production capacity of 15,000 tonnes

Aliplast, among Europe’s leaders in plastic regeneration, grows again in recycled PET. Controlled by Herambiente, part of the Hera Group, this company has now acquired the Gurit Italia business unit dedicated to PET recycling, operating in the Carmignano di Brenta (Padua) plant, with an incremental production capacity of roughly 15,000 tonnes of recycled PET per year.

An evolving regulatory framework will expand demand for recycled PET

This acquisition is part of Aliplast’s broader strategy aimed at responding to the growing demand for recycled PET, which is also a consequence of the evolution of the European and Italian regulatory framework.

In particular, legislative decree 196/21, which applies in Italy the so-called Directive 2019/904 SUP (Single Use Plastics), includes among its various requirements as of 1 January the obligation for plastic containers of liquid foodstuffs to contain at least 25% of recycled raw material. An increased use of recycled plastics is also required by the new European PPWR packaging regulation.

The production and logistics platform integrated in Aliplast

The Carmignano di Brenta plant processes incoming post-consumer PET coming from the recovery chains of the Corepla and Coripet consortia. Thanks to this investment, Aliplast will integrate a new PET grinding, washing and extrusion line, suitable both for food contact (e.g. bottles or food trays) and for use in fibres destined for consumer products such as clothing or automobile accessories.

In addition to increasing production capacity, this acquisition will also optimise Aliplast’s logistics chain, which will be able to integrate Gurit’s large storage yards into its flow of goods.

Petrone, Aliplast CEO: “continuing along a path of qualitative and quantitative growth”

“This acquisition is, first and foremost, in line with our Business plan, which includes the regeneration of resources as one of its qualifying points,” explains Michele Petrone, Aliplast CEO. “It also continues along a path of growth characterised not only by an expansion of production capacity, but also by an increasing focus on quality and traceability, to guarantee customers the highest standards in terms of supply chain transparency and product safety. This is a vision that looks towards the long term and which in 2024 rewarded us with an expansion of our customer base by more than 9% compared to the previous year.”

CONTACT: Rita D’Andrea, rita.dandrea@gruppohera.it, +393201415025

Photo: https://mma.prnewswire.com/media/2653958/Gruppo_Hera.jpg
Logo: https://mma.prnewswire.com/media/2653957/Aliplast_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/aliplast-boosts-recycled-pet-pet-recycling-site-acquired-from-gurit-italia-302415501.html

Fintech PR

PROFESSIONAL FIGHTERS LEAGUE ANNOUNCES PARTNERSHIP WITH BLOCKCHAIN ANALYTICS LEADER ARKHAM

Published

2 hours ago

April 1, 2025

CISION (PR Newswire)

professional-fighters-league-announces-partnership-with-blockchain-analytics-leader-arkham

NEW YORK, April 1, 2025 /PRNewswire/ — The Professional Fighters League (PFL) today announced a multi-year partnership with Arkham, a leading provider of blockchain analytics and real-time cryptocurrency intelligence. The agreement spans the entire PFL ecosystem, including the 2025 PFL World Tournament, Champions Series, PFL Europe, PFL MENA, and the soon-to-launch PFL Africa.

Arkham’s innovative Intel Platform offers an extensive suite of features, including real-time alerts, customizable dashboards, detailed transaction visualization tools, and advanced filtering capabilities. These features are freely accessible across all major blockchain networks, providing unparalleled insights into cryptocurrency transactions and market movements.

To celebrate the partnership, PFL and Arkham will launch an exclusive sweepstakes for fans starting April 1. Participants will have the chance to win an all-expenses-paid trip to the 2025 PFL World Tournament Championship on August 21.

The sweepstakes prize includes:

Two nights at the luxurious Seminole Hard Rock Hotel and Casino
Two cage-side tickets to the Championship event
Post-fight photo opportunity in the SmartCage
Exclusive meet-and-greet with PFL talent

Fans can enter the sweepstakes by following both PFL and Arkham on Instagram and commenting on the upcoming collaborative post. The sweepstakes will run from April 1 to May 1, 2025. More details will be shared on the official PFL and Arkham social media channels.

“We are excited to partner with Arkham to leverage their cutting-edge blockchain analytics technology,” said Bryan Calka, Chief Commercial Officer of PFL. “Arkham’s sophisticated platform ensures that PFL remains at the forefront of innovation, security, and transparency, aligning seamlessly with our vision to bring unique and valuable experiences to our global fanbase.”

The First Round of the 2025 PFL World Tournament, takes place at Universal Studios Florida on April 3, April 11, April 18, and May 1.

The 2025 PFL World Tournament will air live on ESPN platforms in the U.S., Canada, and across Europe, fans can catch the action live on DAZN, while globally, the tournament will be streamed in 190 countries through 20 premium media partners.

This partnership was sourced and facilitated by KLUTCH Sports Group’s Global Partnerships division, led by Andrew Feinberg.

ABOUT PROFESSIONAL FIGHTERS LEAGUE
Professional Fighters League (PFL) is a global powerhouse in MMA and the fastest-growing sports league world-wide. PFL is the only MMA organization with the “win and advance” format. PFL is broadcast and streamed to 190 countries with 20 leading media partners. PFL is backed by major blue-chip investors including SURJ, Ares, Knighthead, Luxor Capital, Waverley Capital, Elysian Park Ventures, 885 Capital, and numerous NBA, MLB, NHL, and MLS team owners. MMA is the growth sport business of this decade, with 650 million fans worldwide, the youngest audience demographic, and true global revenue streams.

PFLmma.com; Instagram (@PFLmma); Twitter (@PFLMMA); Facebook (/PFLmma)

ABOUT KLUTCH SPORTS GROUP
Founded in 2012 by CEO Rich Paul, KLUTCH Sports Group is a premier agency representing some of the world’s biggest athletes across major professional sports. KLUTCH’s unique, 360 approach helps clients at any stage of their career maximize opportunities across the rapidly changing entertainment, media, and business landscape, and provides strategic support in partnerships, branding, communications, social responsibility, and more. With proven expertise in the intersections of sports, entertainment, and culture, KLUTCH connects top teams, major leagues, and properties with global brands. In 2019, KLUTCH partnered with the leading global talent and entertainment company UTA, and in 2024, was named one of GQ’s 20 Most Creative Companies in the World.

About Arkham
Arkham is a blockchain intelligence company that brings transparency and accountability to on-chain activity. Its suite of offerings includes a proprietary analytics platform, a token-powered intel exchange, and the AI-driven Arkham Oracle, collectively serving millions of users. Backed by prominent investors—among them Tim Draper, Bedrock Capital, Wintermute, GSR Markets, and a co-founder of OpenAI.

www.intel.arkm.com
X: @arkham
IG: @arkham