Funding Societies Disbursed RM1 Million in Financing for Foodpanda’s Merchants
by Fintech News Malaysia June 9, 2021Southeast Asian SME digital financing platform Funding Societies has announced a partnership with Foodpanda to offer short-term digital financing solutions for registered merchants under the latter’s network.
The collaboration which has collectively disbursed RM1 million in financing, enables local micro, small and medium enterprises (MSMEs) with greater access to business financing opportunities.
This is to facilitate businesses’ operation needs, expansions, as well as to help ensure sustainability of the MSMEs particularly in this uncertain pandemic-hit economy.
As many as 20,000 to 30,000 merchants across multiple segments under the Foodpanda network stand to benefit from tailored financing solutions offered by Funding Societies.
Wong Kah Meng
Wong Kah Meng, Co-founder and Chief Executive Officer of Funding Societies Malaysia commented,
“Driven by our mutual aim to extend support to MSMEs who are undoubtedly one of the hardest hit segments during this prolonged challenging time, our partnership with Foodpanda enables the merchants under its large network to obtain collateral-free, short-term financing solutions with the added benefits of quick and seamless online application experience.
The RM1 million disbursement we have achieved thus far through this collaboration alone is a testament of the MSMEs’ confidence in digital financing as a viable financing option and further reinforces our steadfast commitment to serving the underserved and unserved businesses across all segments.”
Featured image: Wong Kah Meng, Co-founder and Chief Executive Officer of Funding Societies Malaysia
