Funding Societies, a SME digital finance platform in Southeast Asia, has partnered with TASConnect (Malaysia), a working capital solutions platform.
TASConnect is wholly owned and incubated through SC Ventures, Standard Chartered’s innovation and venture capital arm.
This collaboration will enable eligible SMEs within the TASConnect network to access Funding Societies’ supply chain financing solutions, with the potential to unlock working capital tied up in payables and receivables, and convert eligible invoices into immediate cash.
Eligible businesses could obtain up to RM1,000,000 in invoice financing.
This partnership, part of broader efforts to address the growing financing needs of Malaysian SMEs, aims to help businesses manage their cash flow, boost growth, and contribute to the overall economic development of Malaysia.
Chai Kien Poon, Country Head, Funding Societies Malaysia, remarked,
“We are excited to collaborate with TASConnect (Malaysia) to offer enhanced cash flow solutions to their ecosystem.
By introducing this supplier-led supply chain financing solution, we aim to bridge the liquidity gap faced by SMEs while supporting corporates in optimising their supply chains.”
Wendy Ang, CEO of TASConnect (Malaysia) said
“Our strategic collaboration with Funding Societies is a significant step toward making tailored financing more accessible for SMEs in Malaysia. Our innovative platform is set to revolutionise how small and medium enterprises secure funding by delivering a streamlined, efficient, and user-friendly experience.
With tailored solutions designed specifically for the unique challenges faced by Malaysian businesses, we are committed to empowering entrepreneurs to thrive.”
Featured image: (From left) Sean Hor, Head of Sales & Key Account, Funding Societies; Chai Kien Poon, Country Head, Funding Societies; Wendy Ang, TASConnect (Malaysia) CEO; and Chan Tse Ning, Chief Business Officer, TASConnect (Malaysia)
