Funding Societies, Southeast Asia’s largest unified small and medium-sized enterprise (SME) digital finance platform, announced Wednesday a strategic partnership with Bukku, Malaysia’s homegrown cloud-based accounting, to offer instant SME financing qualification – a first-of-its-kind integration that removes the friction traditionally associated with loan applications.
Funding Societies said in a statement that through this collaboration, SMEs using Bukku can now check their financing eligibility in real-time simply by consenting to share their masked accounting data – eliminating the need for extensive documentation or lengthy application processes.
The partnership between Funding Societies and Bukku started in December 2023, and has since facilitated MYR 1 million ($240,000) in financing for SMEs.
“With the introduction of Instant Qualification, we’re helping SMEs get pre-approved financing at the speed of their business – not the speed of paperwork,
“This is part of our broader goal to support Malaysian SMEs by embedding financing where and when it matters most,” said Chai Kien Poon, Country Head of Funding Societies Malaysia.
According to him, the integration with Bukku allows them to assess eligibility instantly based on real-time financial
data – supporting faster, more inclusive lending that aligns with Malaysia’s digitalization ambitions.
The Instant Qualification feature connects Bukku users directly to Funding Societies via a Financing Portal embedded in the Bukku platform.
With the user’s consent, Bukku shares their masked aggregated financial data with Funding Societies, which then dynamically assesses loan eligibility and presents tailored offers in-platform, without requiring manual uploads or traditional credit paperwork.
“At Bukku, our mission has always been to simplify financial management for SMEs – but access to capital is just as critical,
“Through this partnership, we’re not just digitizing accounting – we’re enabling action,” said Jye Eng, Co-founder and Chief Executive Officer of Bukku.
According to him, the firm’s users now receive financing offers when they’re most needed, based on the realities of their business.
“That’s how embedded finance should work: timely, contextual, and effortless,” he added.
According to the statement, this partnership comes at a pivotal moment, as Malaysia ramps up its national e-invoicing initiative under the MyInvois system, supported by Lembaga Hasil Dalam Negeri Malaysia (LHDN).
Bukku’s full compliance with these frameworks ensures that SMEs already on the platform are future-ready.
With e-invoicing becoming mandatory across more business segments starting 2025, the integration of financial solutions like Instant Qualification helps SMEs move beyond
compliance.
By linking digital records with real-world financing access. this supports Bank Negara Malaysia’s agenda to expand SME financing inclusively through data-driven tools, especially for underserved and micro enterprises that make up 97.4 percent of Malaysian businesses.
One such SME that has benefited from this partnership is DNA Tech Digital Sdn. Bhd., a Kuala Lumpur-based tech company – specializing in hybrid web application development and end-to-end information technology (IT) services – that helps traditional businesses transition from manual processes to digital platforms.
As DNA Tech Digital’s projects grew in scale and complexity, the company encountered common challenges in managing cash flow, particularly when it came to purchasing hardware for clients or onboarding new talent while awaiting customer payments.
These financing gaps often slowed momentum during key business cycles.
Both companies have begun exploring areas for deeper integration for the next phase of of their partnership which includes:
● Instant pre-approval: so as to shorten the turnaround time during the preapproval process.
● Embedded invoice financing: allowing business owners to get paid faster for invoices with extended payment terms
● Lowered interest rates: with more relevant data-sharing and improved evaluation processes, rates can be kept competitive.