Funding Societies, the largest small and medium-sized enterprise (SME) digital finance platform in Southeast Asia, has announced a five-year strategic plan focused on Thailand as the nation transitions to the digital economy.
Thailand's robust growth in digital financial services is evident, with digital lending valued at US$14 billion and digital payments reaching $141 billion in 2024.
The country's digital economy was valued at $46 billion, ranking second in Southeast Asia.
"This surge presents immense opportunities for digital financial service providers," said Vikas Jain, country head of Funding Societies Thailand.
The company registered steady growth, particularly during the post-Covid era when Thai SMEs urgently needed funding for recovery.
To date, it has disbursed more than 150 billion baht in cumulative financing via more than 5 million transactions across five Southeast Asia markets.
Under its five-year strategic vision, Funding Societies aims to evolve from a digital lending provider into a long-term financial partner, helping to build the financial infrastructure essential for Thai SMEs in a digital economy.
The company wants to address challenges in accessing financing, enhancing SME competitiveness in supply chains, and contributing to building a sustainable financial ecosystem, said Mr Jain.
Its clients span across manufacturing, wholesale and retail, professional and tech services, with a greater focus on SMEs in healthcare. Manufacturing makes up the largest share, highlighting Thailand's role as an industrial and export hub in the region.
The platform's low default rate of 1.86% reflects the strength of its credit analysis framework and its nuanced understanding of local SME financial behaviour, he said.
Another focus for the company is supporting SMEs working on government projects.
"Our diverse customer base demonstrates our approach meets the needs of Thai SMEs, whether for working capital, trade financing, or liquidity support, all of which are critical to business competitiveness," said Mr Jain.
As part of its plan, Funding Societies Thailand outlined three strategic pillars. The first is client-centric financing, emphasising flexible financial products tailored to the unique cash flow cycles and business models of each SME.
Ecosystem integration is another goal.
"We are developing supply chain finance solutions in collaboration with partners to address the needs of both buyers and suppliers in the value chain," he said.
The third pillar is responsible growth, which encompasses careful client screening, leveraging technology to mitigate credit risk, and building long-term client relationships.
"Funding Societies also plans to expand its client base in high-potential provinces beyond Bangkok and surrounding areas to economically promising provinces," said Mr Jain.