Maybank invests in MSME finance platform Funding Societies
Maybank has invested in startup Funding Societies | Modalku, a unified digital finance platform that aims to help micro, small, and medium enterprises (MSMEs) get loans.
The Malaysian bank did not specify the amount invested.
Maybank said that it will collaborate with Funding Societies to “to promote inclusivity and bridge funding gaps within the communities it serves,” according to a press release.
Since its establishment in 2015, Funding Societies has disbursed over $4b in business financing to over 100,000 businesses in Singapore, Indonesia, Malaysia, Thailand, and Vietnam.