Funding Societies

Khazanah and CGC Digital invest in Funding Societies to broaden financing access to MSMEs

Khazanah Nasional Berhad (Khazanah) and CGC Digital Sdn Bhd (CGC Digital) have on Wednesday announced an investment into the largest unified small and medium enterprise digital finance platform in Southeast Asia, Funding Societies | Modalku (Funding Societies), to broaden financing access to unserved and underserved businesses.

Funding Societies partners Halal Development Corporation to enhance financing access to halal SMEs

Singapore-based digital finance platform Funding Societies has partnered with a Halal Development Corporation Berhad (HDC), a Malaysian federal government agency under the Ministry of International Trade and Industry (MITI), to enhance financing access to halal small and medium-sized enterprise (SMEs).

Malaysia’s SME Corp allocates $1.27M to Bumiputera youth entrepreneurs

SME Corporation Malaysia (SME Corp. Malaysia), an agency under the Ministry of Entrepreneur and Cooperatives Development (MECD) and Funding Societies, an unified SME digital finance platform in Malaysia and Southeast Asia, have allocated an initial fund of MYR 6 million ($1.27 milion) for Bumiputera youth entrepreneurs.

Funding Societies raises $7.5M in debt from Norfund

Funding Societies | Modalku, the largest unified small and medium enterprises (SME) digital finance platform in Southeast Asia, has on Thursday announced that it has raised $7.5 million in debt from Norfund, a Development Financial Institution (DFI) which operates an investment fund owned by the Norwegian government for developing countries.

Nearly 7 in 10 SMEs in Southeast Asia rely on startup capital from savings, family and friends: SME Industry Report

In Southeast Asia, about 70 percent of small and medium enterprises (SMEs) started their business with seed money raised from their personal savings and from family and friends’ financial support, said a report published by Funding Societies, a Southeast Asia’s unified SME digital finance platform.

Funding Societies raises $27 million in debt funding from institutional investors

Funding Societies | Modalku, the largest unified small and medium enterprises (SME) digital finance platform in Southeast Asia, announced on Tuesday that it has successfully raised debt of $27 million. The funding was led by Asia-focused private credit financier AlteriQ Global, with multi-family office Aument Capital Partners (ACP), and…

Funding Societies partners PEKEMA to bolster Malaysian automotive industry via digital financing

Funding Societies, the Singapore-based digital finance platform for small and medium enterprises (SMEs), and the Malay Vehicle Importers and Dealers Association of Malaysia (PEKEMA) and have entered into a collaborative effort to facilitate accessible financing through a digital financial platform. The collaborative agreement, formalized through this…

Funding Societies partners CGC Digital to support MSMEs via digital supply chain financing guarantee

Singapore-based digital financing platform Funding Societies has partnered with CGC Digital, the FinTech subsidiary of Credit Guarantee Corporation Malaysia Berhad (CGC), to support micro, small and medium Eenterprises (MSMEs) via digital supply chain financing guarantee.

Funding Societies introduces Shariah-compliant Guaranteed Islamic Investment Note in Malaysia

Following the launch of its comprehensive Islamic financing solutions recently, Funding Societies, the Singapore-based unified small and medium sized enterprise (SME) digital finance platform, has introduced its Guaranteed Islamic Investment Note (GN-i) in Malaysia.

Funding Societies partners CGC to launch SME Portfolio Guarantee to improve Malaysian SMEs digital financing access

Funding Societies, the Singapore-based small and medium-sized enterprise (SME) digital finance platform in Malaysia and Southeast Asia, and Credit Guarantee Corporation Malaysia Berhad (CGC) have signed an SME Portfolio Guarantee (SME PG) agreement with the mutual objective of propelling the growth of Malaysian SMEs by providing easier access to financing.