Wong Kah Meng
Funding Societies Malaysia has announced the appointment of Chai Kien Poon as country head of Malaysia.
Funding Societies introduced its Shariah-compliant trade financing solutions based on Commodity Murabahah (Tawarruq) for creditworthy and underserved Malaysian micro, small, and medium enterprises.
Funding Societies has announced that it has raised US$144 million in an oversubscribed Series C+ equity round led by Japanese venture capital fund SoftBank Vision Fund 2.
Funding Societies Malaysia claimed that it has achieved US$239 million disbursement in business financing across more than 17,000 financing deals, directly supporting creditworthy underserved micro, small and medium enterprises across the nation.
Funding Societies and foodpanda have unveiled a new initiative for SMEs to get financing without repayment of principal for the first three months.
Dealer financing tie up offers up to US$200 million in financing opportunities.
Dealer Financing is targeted at the purchase of used cars by identified used car dealers.
Helps SME merchants on the Lazada platform in need of working capital.
Funding Societies collaborates with e-commerce platforms to widen micro-financing access.
SMEs can receive funds upfront for their customer invoices, with up to 80% of invoice value and a term range of 30 to 120 days.