How Kelvin Teo Built Southeast Asia’s Largest SME FinTech Empire - E678

How Kelvin Teo Built Southeast Asia’s Largest SME FinTech Empire - E678

Author: Jeremy Au March 16, 2026 Duration: 46:55

How do you scale a FinTech company across 5 countries while navigating global pandemics and regulatory shifts? In this episode of the BRAVE Southeast Asia Tech Podcast, Jeremy Au sits down with Kelvin Teo, Co-founder of Funding Societies | Modalku. Kelvin shares his incredible journey from being a "naive" Harvard MBA student to managing a platform that has disbursed over $5 Billion USD in SME financing.

In this episode:

The "First Principles" of Credit: Why traditional banking models fail SMEs and how Funding Societies rewrote the rules for Southeast Asia.

The McKinsey & Harvard DNA: How elite professional training helped (and hindered) the founding of a startup.

Mastering Regional Scale: The strategic logic behind expanding into Singapore, Indonesia, Malaysia, Thailand, and Vietnam.

Crisis Leadership: Facing social media backlash during layoffs and the "brave" decisions required to survive the FinTech winter.

M&A Strategy: Why Funding Societies acquired CardUp and the secret to integrating mindset over org structure.

Whether you are a founder, a VC, or an aspiring entrepreneur in the SEA ecosystem, Kelvin’s insights on concentration risk, counterparty trust, and regional diversification are essential listening.

00:00 - Facing Joblessness at Harvard

02:02 - Introduction to Funding Societies

05:15 - Why Choose HBS Over Private Equity?

10:52 - Finding the Right Co-founder (Reynold Wijaya)

21:50 - The Regional Strategy: Singapore vs. Indonesia

31:10 - Learning from Defaults and Concentration Risk

40:35 - Acquiring CardUp & The Future of Payments

41:28 - Being Brave: Regulatory Hurdles & Layoffs

Watch, listen or read the full insight at https://www.bravesea.com/blog/kelvin-teo-built-sme-fintech-empire-funding-societies

Get transcripts, startup resources & community discussions at https://www.bravesea.com

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LinkedIn: https://www.linkedin.com/company/bravesea

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Bahasa Indonesia: Spotify | YouTube | Apple Podcasts

Chinese: Spotify | YouTube | Apple Podcasts

#Singapore #Indonesia #Startup #Podcast #southeastasia #techpodcast


There’s a unique energy building across Southeast Asia, a sense of possibility that’s palpable from Singapore’s skyscrapers to the bustling streets of Jakarta, Ho Chi Minh City, Manila, Bangkok, and Kuala Lumpur. BRAVE Southeast Asia Tech captures that momentum by going beyond the headlines and funding announcements. Host Jeremy Au, a venture capitalist and serial founder with a background from Harvard and Berkeley, steers these conversations with a distinct perspective-one that balances the hard metrics of growth with the very human elements of leadership and personal development. Each episode feels like a candid, in-depth dialogue, whether he’s speaking with a first-time founder navigating early traction or a seasoned investor mapping regional trends. You’ll hear genuine stories about building companies, the tough lessons learned from failures, and the often-overlooked journey of staying grounded while scaling rapidly. This isn’t about presenting a polished facade of success; it’s about the real work of creating something meaningful. With over eighty thousand regular listeners, this podcast has become a key resource for anyone invested in the region’s tech ecosystem. Jeremy brings his own experiences as a sci-fi enthusiast and a father into the mix, often exploring how broader perspectives on the future and empathy shape better leaders. Tune in for practical insights on venture capital, entrepreneurship, and management, all framed within the vibrant and complex tapestry of Southeast Asia. New conversations arrive every Monday, offering a thoughtful pause to reflect on how we build what’s next.
Author: Language: en-us Episodes: 100

BRAVE Southeast Asia Tech: Singapore, Indonesia, Vietnam, Philippines, Thailand & Malaysia Startups, Founders & Venture Capital VC (English)
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