Funding Societies

Malaysian lender Malayan Banking Berhad (Maybank) has announced a strategic investment in Funding Societies | Modalku (Funding Societies), an unified digital finance platform for micro, small and medium enterprises (MSMEs) in Southeast Asia.

Funding Societies, the Singapore-based unified digital finance platform for small and medium sized enterprises (SMEs), has successfully disbursed MYR 300 million ($64.22 million) in Islamic business financing to more than 2,500 micro, small, and medium enterprises (MSMEs) in Malaysia since launching its comprehensive suite of Islamic products in June 2023.

Funding Societies, the Singapore-based unified small and medium enterprises (SME) digital finance platform, has announced a strategic partnership with Singapore E-Business (SGeBIZ), a digital procurement, payment and sourcing platform provider, to bring business to business (B2B) embedded finance (EmFi) solutions to businesses in Singapore.

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.

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).

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 | 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.

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 | 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, 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…