Funding Societies and Boost Bank are expanding property-backed SME financing in Malaysia through a new partnership.
The collaboration will allow eligible businesses to use industrial or residential properties to secure financing for working capital, expansion and business continuity.
Funding Societies will originate the financing, while Boost Bank, Malaysia’s first homegrown digital bank, will participate through its balance sheet.
The financing is intended for business purposes and is secured by property, distinguishing it from conventional mortgage lending.
The partnership targets asset-owning MSMEs and growing SMEs that still face gaps in accessing timely and structured financing.
Both companies also plan to explore other financing solutions across multiple products and customer segments.
Chai Kien Poon, Country Head of Funding Societies Malaysia, said,
“Our partnership with Boost Bank brings together Funding Societies’ digital SME financing expertise and deep understanding of property-backed financing needs, with Boost Bank’s balance sheet and digital banking capabilities.
Together, we are better placed to expand access to practical, asset-backed financing solutions for SMEs and mid-tier companies across Malaysia, and we look forward to building a partnership that delivers meaningful impact over time.”
Fozia Amanulla, CEO of Boost Bank, said,
“This partnership reflects the role we believe digital banks can play in Malaysia’s financial ecosystem, working with fintech partners to extend reach, support responsible innovation and deliver more inclusive financing solutions to businesses.
We are pleased to partner with Funding Societies to support Malaysian businesses with practical, property-backed financing that can help them unlock liquidity, strengthen cash flow and pursue growth.”
Featured image: Edited by Fintech News Malaysia, based on image by jamesteoh1976 via Magnific
