Funding Societies, a Malaysian-founded regional Peer-to-Peer (P2P) financing platform, launched its crowdfunding services in Malaysia to provide SMEs and investors with trusted alternative financing and investment opportunities.
Speaking at the launch, Kelvin Teo, Co-Founder of Funding Societies said, “Peer-to-peer financing is a proven concept globally, paving the way for small and medium-sized companies to access a new avenue of financing. As one of the most established regional P2P financing platforms in Southeast Asia, we are excited to bring our regional and global expertise back home to make an impact to the Malaysian society. Since June 2015, Funding Societies had provided more than RM85 million in loans to nearly 300 Small and Medium Enterprises in Singapore and Indonesia.”
Funding Societies aims to uplift businesses where financing is the most difficult, in particular the smaller and medium sized businesses. New businesses are often faced with stifling restrictions when it comes to applying for loans. Funding Societies addresses these challenges head-on and provides a viable option for SMEs that have exhausted their existing banking facilities, and are looking at short-term financing for 1-12 months’ tenor. Funding Societies also meets the needs of SMEs that require small quantum (as small as RM 50,000 and up to RM 500,000), fast disbursal (less than 1 week disbursal), and a hassle-free and quick application process (15 minutes).
Kah Meng Wong, CEO of Funding Societies Malaysia added, “Funding Societies is driven to support the growth of the Malaysian economy by providing business term financing and invoice financing solutions to SMEs across various industries including manufacturing, wholesale and retail trade, professional services and food & beverage. This also allows investors to diversify their investments across industries and minimise risk.”
“Aside from supporting SMEs, we also want our investors to feel secured knowing that we invest alongside them. Being a local team with international expertise and experience in SME financing, we understand the risks involved in such investments. Hence, we conduct a rigorous credit assessment before approving any business loans. We set ourselves apart by offering higher potential returns, low barriers to entry, simple investment process and best in class customer experience”, added Kah Meng Wong.
Funding Societies constantly promotes transparency and confidence to investors by operating on a unique ‘Skin-in-the-Game’ philosophy. The founders firmly believe and uphold the saying ‘putting your money where your mouth is’, and therefore co-invest in the SMEs alongside their investors. Funding Societies also strives to incorporate the best lending practices. Among its investors are global and regional venture capital firms, Sequoia Capital India and Alpha JWC, allowing knowledge-sharing and adoption of international best practices to take place.
As one of the only six trusted P2P operators recognised and regulated by the Securities Commission Malaysia (SC), Funding Societies Malaysia continues to work closely with (SC) and strictly abides by its regulatory framework, giving stakeholders a sense of security while still allowing room for growth and innovation.
With a vision to ultimately help uplift societies, Funding Societies’ launch in Malaysia will provide the solid bridge between SMEs and investors and further empower every Malaysian business owner to reach their greatest potential.
Funding Societies is one of the leading P2P financing platform in Southeast Asia with presence across Singapore, Indonesia and Malaysia. Co-founded by Harvard Business School graduates, Funding Societies aims to be the most trusted P2P financing platform in Southeast Asia and has pioneered region-leading initiatives. Since launching 18 months ago, Funding Societies has originated more than RM 85 million in financing, helping more than 200 SMEs to grow their businesses. Funding Societies is funded by leading global and regional venture capital firms, Sequoia India and Alpha JWC.