“Can the largest SME lender in Southeast Asia become the region's SME financial OS by layering payments, cards, and embedded finance on top of its crowdfunded lending base?”
Founded 2015 as Southeast Asia's first SME crowdfunding platform (Modalku in Indonesia), connecting individual/institutional investors to SME borrowers. Following the 2022 US$294M raise, expanded beyond pure lending into payments and embedded finance — launching the Elevate virtual card (with MatchMove/Mastercard) and acquiring digital payments platform CardUp. The company is now positioning as a one-stop SME financial OS across Singapore, Indonesia, Malaysia, Thailand, and Vietnam, layering payments, cards, and AP financing on top of its core lending engine.