The new additions into Funding Societies’ P2P lending platform Modalku are the latest move that aims to scale its operations

Funding Societies, Southeast Asia-based fintech company, announces the appointment of three new senior hires occupying the CTO, CEO, and CDO positions. The company appoints Matt Lambie as the Chief Technical Officer, Dheeraj Chowdhry as the Chief Executive Officer, and Jared Goldberg as the Chief Data Officer.

Funding Societies, or Modalku in Indonesia, is a P2P lending platform that provides business loans to SMEs crowdfunded by individual and institutional investors. The platform claimed to have helped to fund more than US$800 million in loans.

Bearing the mission of establishing financial inclusion for SMEs across the region, the new hires bring to the company diverse skills and knowledge to keep up with its growing scope of SMEs.

“The newly appointed team member will contribute further to our mission, which is enabling SMEs in Southeast Asia,” said Kelvin Teo, co-founder and Group CEO of Funding Societies.

Matt Lambie, the new Chief Technology Officer, will be responsible for web, mobile, and platform software development efforts, technical operations, quality assurance, and information security. Before joining Funding Societies, Matt was the Group CTO at MoneySmart where he helped modernise the product development and software engineering practices.

Also Read: Key lessons from Funding Societies’s hyper-growth journey

The new CEO of Singapore Dheeraj Chowdhry joins with over 20 years of experience across multiple functions within global banking organisations in Asian geographies including AMEX, ANZ Bank, and ABN AMRO. The former CEO, Kelvin Teo will take up the duties of Group CEO, which is a newly created position.

The new Chief Data Officer, Jared Goldberg, will oversee the industrialisation of insights and monetisation of data. He will implement the function’s strategic operating model, including oversight of the Data Management, Engineering, Analytics, and Science teams.

The Berkeley graduate’s portfolio includes a stint at UBS in the Credit Risk space as a Business Analyst and the Head of Business Integration and Analytics at Standard Chartered among many others.

Funding Societies has Softbank Ventures Asia Corp. and Sequoia India as principal backers, with Softbank led its Series B funding for US$25 million in April 2018. It provides business financing to small and medium-sized enterprises (SMEs), crowdfunded by retail and institutional investors as well as high-net-worth individuals.

Within four years, it claims to have helped to finance over 900,000 business loans at over S$800 million (US$577 million) with licensed or approved operations in Singapore, Indonesia, and Malaysia.

Also Read: Funding Societies raised a US$25M Series B funding round led by Softbank Ventures Korea

In Singapore, Funding Societies Pte. Ltd. holds a Capital Market Services License issued by the Monetary Authority of Singapore.
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