PETALING JAYA: Funding Societies, Southeast Asia’s largest unified small and medium enterprise (SME) digital finance platform, has signed a strategic agreement with TASConnect (Malaysia) Sdn Bhd, a working capital solutions platform, to leverage on Funding Societies’ tailored supply chain financing solutions to unlock working capital tied up in payables and receivables .
Eligible SMEs within the TASConnect network would also be able to obtain invoice financing of up to RM1 million through Funding Societies’ financing solution. This will help broaden the ease of access to financing solutions for the Malaysian SMEs by allowing businesses to extend their payables and convert their eligible invoices into immediate cash, supporting growth, operations, and timely payments.
Funding Societies Malaysia country head Chai Kien Poon remarked, “We are excited to collaborate with TASConnect (Malaysia) to offer enhanced cash flow solutions to their ecosystem. By introducing this supplier-led supply chain financing solution, we aim to bridge the liquidity gap faced by SMEs while supporting corporates in optimising their supply chains.”
This collaboration, he added, is a win-win for businesses of all sizes, enabling financial resilience and long-term growth.
TASConnect (Malaysia) CEO Wendy Ang said “Our strategic collaboration with Funding Societies is a significant step toward making tailored financing more accessible for SMEs in Malaysia. Our innovative platform is set to revolutionise how small and medium enterprises secure funding by delivering a streamlined, efficient, and user-friendly experience.
“With tailored solutions designed specifically for the unique challenges faced by Malaysian businesses, we are committed to empowering entrepreneurs to thrive. This strategic collaboration not only removes financial barriersbut also transforms access to capital into a powerful catalyst for success and economic growth across the region.”
The collaboration between Funding Societies and TASConnect (Malaysia) is part of a broader effort to address the growing financing needs of Malaysian SMEs, contributing to the economic development of the nation. This collaboration underscores both companies’ commitment to supporting small businesses by providing accessible, flexible, and reliable financing options.
