Singapore-headquartered digital financing platform Funding Societies and Malaysia’s homegrown digital lender Boost Bank have on Monday announced a strategic partnership to broaden access to property-backed business financing for small and medium enterprises (SMEs), including asset-owning micro, small, and medium enterprises (MSME)s and growing SMEs, in Malaysia.
The collaboration brings together Boost Bank’s regulated banking capabilities and Funding Societies’ digital SME financing expertise to serve businesses that continue to face gaps in
accessing timely, structured and practical financing solutions, the duo said in a statement.
The collaboration will span multiple products and customer segments, with both parties intending to explore additional financing solutions over time.
As the first initiative under this partnership, Funding Societies will originate property-backed business financing for eligible SMEs, supported by Boost Bank’s balance sheet participation.
This will enable business owners across Malaysia to unlock liquidity from their industrial or residential properties to fund working capital, business expansion and continuity needs.
The financing is intended to support business purposes and is secured by property, distinguishing it from conventional mortgage lending.
Looking ahead, both parties intend to explore additional areas of collaboration to broaden access to structured financing for businesses across the SME spectrum that have historically been underserved by traditional financial institutions.
“Many SMEs and mid- tier companies in Malaysia have strong assets and viable growth plans but still face gaps in accessing financing that is timely and structured around their needs,
“We have seen first-hand how the right financing at the right time can help a business move forward – and how the lack of it can hold one back,” said Chai Kien Poon, Country Head of Funding Societies Malaysia.
According to him, the partnership with Boost Bank brings together Funding Societies’ digital SME financing expertise and deep understanding of property-backed financing needs, with Boost Bank’s balance sheet and digital banking capabilities.
“Together, we are better placed to expand access to practical, asset-backed financing solutions for SMEs and mid-tier companies across Malaysia, and we look forward to building a partnership that delivers meaningful impact over time,” he added.
Fozia Amanulla, Chief Executive Officer of Boost Bank, said that at Boost Bank, expanding access to financing for underserved MSMEs remains a key priority.
“Many businesses have viable operations and assets but may still face barriers in accessing financing due to limited credit history, documentation challenges or the absence of solutions structured around their business needs,” she added.
She also said this partnership reflects the role they believe digital banks can play in Malaysia’s financial ecosystem, working with fintech partners to extend reach, support responsible innovation and deliver more inclusive financing solutions to businesses.
“We are pleased to partner with Funding Societies to support Malaysian businesses with practical, property-backed financing that can help them unlock liquidity, strengthen cash flow and pursue growth,” she said.
The partnership also reflects both organizations’ shared ambition to expand access to property-backed and structured business financing solutions for SMEs in Malaysia, while building a broader fintech-bank collaboration model that supports innovation, inclusion and responsible financing growth, said the statement.