Maybank invests in fintech company Funding Societies

KUCHING: Maybank has announced a strategic investment in Funding Societies – the largest unified digital finance platform for micro, small and medium enterprises (MSMEs) in Southeast Asia.

With the investment, the bank stated that it will explore collaborative synergies with Funding Societies to promote inclusivity and bridge funding gaps within the communities it serves.

In a statement, it said the transaction represents the inaugural investment under a new initiative at Maybank to strategically invest and partner with best-in-class digitally-enabled organisations across Asean.

“This investment forms part of Maybank’s approach to accelerate innovation to serve the MSME community. It aligns with Maybank’s M25+ strategic thrust, aiming to accelerate digitalisation through ecosystem orchestration within and beyond the banking sector,” it said.

Commenting on this, Maybank President and Group Chief Executive Officer Datuk Khairussaleh Ramli said Maybank has consistently championed small and medium enterprises – the backbone of Asean economies.

“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,” he said.

Funding Societies is a regional financial technology company that specialises in providing financing to MSMEs.

Since its inception, Funding Societies has disbursed over US$4 billion in business financing, positively impacting more than 100,000 businesses across Malaysia, Singapore, Indonesia, Thailand, and Vietnam.

In Malaysia, Funding Societies was one of the first entities registered as a Recognised Market Operator by the Securities Commission.