HO CHI MINH CITY -- Southeast Asia's biggest lending startup sees a cautionary tale in China, where a decade of freewheeling growth in digital loans collapsed spectacularly under the weight of frauds and crackdowns.
After crowdfunding scams and meltdowns, Softbank-backed startup welcomes regulation
Funding Societies CEO and co-founder Kelvin Teo says he would be happy to see a well-regulated fintech sector in Southeast Asia. (File photo by Shinya Sawai)
HO CHI MINH CITY -- Southeast Asia's biggest lending startup sees a cautionary tale in China, where a decade of freewheeling growth in digital loans collapsed spectacularly under the weight of frauds and crackdowns.