Maybank has made a strategic investment in Funding Societies, a digital financing platform for micro, small and medium enterprises (MSMEs) in Southeast Asia. The sum was not disclosed.
The investment aims to strengthen collaboration between Maybank and Funding Societies, focusing on enhancing financial inclusion and bridging funding gaps for MSMEs across the region.
This marks Maybank‘s first investment under a new initiative to partner with leading digital organisations in ASEAN.
The move aligns with the bank’s M25+ strategy, which emphasizes accelerating digital innovation to better serve the MSME community.
Funding Societies, founded in 2015, is a regional fintech company focused on providing financing to MSMEs.
It has disbursed over US$4 billion in business financing, supporting more than 100,000 businesses across Singapore, Indonesia, Malaysia, Thailand, and Vietnam.
Dato’ Khairussaleh Ramli, President & Group CEO of Maybank, said
“Our investment in Funding Societies underscores our commitment to driving financial inclusion, in line with our purpose of humanising financial services.
By leveraging our banking expertise alongside Funding Societies’ innovative digital platform, Maybank is committed to fostering a robust SME ecosystem and ensuring a brighter, more sustainable future for all.”
Kelvin Teo, Co-founder and Group CEO of Funding Societies, said,
“We are honoured by Maybank’s support, reflecting a shared commitment to serve MSMEs in Southeast Asia.
This partnership reaffirms our dedication to extending credit access to underserved MSMEs that face cash flow management challenges – an area we are progressively expanding to help these businesses fulfil their business potential.”
Featured image credit: Edited from Freepik
