Funding
RHB and Boost Holdings Collectively Invest RM9.5 Million in Digital Bank
RHB Bank has announced an investment of RM3.8 million to purchase 3.8 million new shares in Boost Bank, in order to maintain its 40% stake in the digital bank. This transaction was funded by the incumbent bank’s internally generated funds.
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HSBC ASEAN Growth Fund Targets Scaling Digital Companies with US$1 Billion
HSBC has unveiled a US$1 billion ASEAN Growth Fund that targets six of the region’s most rapidly developing countries, aiming to enhance the capabilities of digital platform enterprises. The HSBC ASEAN Growth Fund includes Indonesia, Malaysia, Philippines, Singapore, Thailand, and
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Soft Space Secures Pre-series C Funding From Japan’s GMO Financial Gate
Malaysian fintech Soft Space has secured an investment from GMO Financial Gate, Inc. (GMO-FG), a major player in Japan’s payment processing industry, for its pre-Series C funding round. Financial details of the investment were not revealed. The collaboration aims to broaden
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EPF and Gobi Partner on RM250 Million Fund, Financial Inclusion Among Key Focus
The Employees Provident Fund (EPF) has announced a strategic collaboration with Pan-Asian venture capital firm Gobi Partners, committing RM250 million to support the growth of mid-to-growth stage companies in Malaysia. This partnership is aimed at fostering the development of various
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SC and Bursa Malaysia to Shorten IPO Approval Timeline to 3 Months
The Securities Commission Malaysia (SC) and Bursa Malaysia have announced a new initiative to expedite the approval process for initial public offerings (IPOs) on both the Main Market and the ACE Market, aiming for a three-month turnaround. This streamlined approach
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Maybank Announces RM18 Billion SME Financing Plan for 2024
Maybank has announced its plans to disburse approximately RM18 billion in SME financing for the year 2024, according to Bernama. This marks a 13 percent increase from the previous year, aiming to expedite the transition of its customers towards more
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RHB Invests RM8.6 Million in Boost Bank, Maintains 40% Stake in Digibank
RHB Bank has further invested RM8.6 million in Boost Bank, subscribing for an additional 8.6 million shares to maintain its 40% stake in the digital banking venture. According to The Star, this follows Boost Holdings Sdn Bhd’s (BHSB) similar injection
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Khazanah, CGC Digital Invests in Funding Societies to Bridge RM 90B Funding Gap
Malaysia’s sovereign wealth fund Khazanah Nasional and CGC Digital have made a strategic investment in SME digital financing platform Funding Societies. The sum was not disclosed. The investment is expected to enable Funding Societies to expand its reach beyond beyond
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Kid-Focused Neobank Vircle Nets Seed Funding From Gobi, KMP
Vircle, a Malaysian neobanking service provider for kids, has secured seed funding from co-lead investors Kumpulan Modal Perdana (KMP) and Gobi Partners. Details of the funding was not disclosed. Gobi made the investment through the Gobi Dana Impak Ventures (GDIV)
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Funding Societies Journey from Zero to Hero
In the world of business and entrepreneurship, the story of Funding Societies and its co-founders is noteworthy. Wong Kah Meng, a Co-founder and Group Chief Operating Officer at the platform, recently solidified his commitment by clinching the Founder of the
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