Funding Societies, TMIM team up to provide digital financing access
KUCHING: Funding Societies Malaysia, the largest peer-topeer ( P2P) financing platform in the country and Southeast Asia recently collaborated with TM Info-Media Sdn Bhd (TMIM), a subsidiary of Telekom Malaysia Bhd ( TM) to offer business financing solutions for the underserved and unserved local micro, small and medium enterprises (MSMEs).
The mission kicks off into high gear with the prime utilisation of Yellow Pages’ digital platform, a product of TMIM and also the leading digital business directory in Malaysia.
The collaboration will provide MSMEs with greater access to digital financing solutions. The solutions will facilitate business expansions as well as ensure sustainability of the MSMEs.
It provides vital financing options to existing MSMEs and serves as a launch pad to aspiring entrepreneurs.
The synergistic collaboration takes momentous steps towards Funding Societies’ mission to improve the livelihoods of MSMEs and TM’s role as the enabler of Digital Malaysia.
It also opens the door for as many as 70,000 MSMEs under the Yellow Pages listings to a variety of tailor-made financing products. With the aim of bringing game-changing revolutions to their customers, Yellow Pages Malaysia is no stranger to making innovative
transformations in order to stay current in the digital age.
“Digital financing is becoming more prevalent in Malaysia given its ability to promote financial inclusion, particularly benefiting the MSMEs that are either unserved or underserved by traditional financing avenues by providing easy access to financing solutions,” Funding Societies Malaysia co-founder and chief executive officer (CEO) Wong Kah Meng commented on the partnership.
“As the largest P2P financing platform in the region, our partnership with TMIM will serve to accelerate our reach in providing the financing support that is much needed by our local MSME players.
“This is especially relevant given MSMEs are among the most impacted by the Covid-19 pandemic.”
Meanwhile, TMIM CEO Sean Koh Chin Soon said their Malaysia Yellow Pages platform which has evolved from print to digital, interactive website and mobile app, is the perfect avenue to bridge the MSMEs out there with the resources they require.
“We are excited to collaborate with Funding Societies Malaysia in empowering local businesses through financial solutions,” Koh added.
“This will enable them to further expand their potentials thus supporting the sustainability of the businesses, especially during this Covid19 pandemic. This initiative is befitting of TM Group’s unique role in nation building and as the enabler of Malaysia’s Digital Nation aspirations.”
Eligible MSMEs stand to enjoy the following financing benefits from Funding Societies: discount on processing fee, fast disbursement with quick approval within five working days, flexible tenure of up to 18 months, no collateral requirement and minimal documentation requirement.