KUCHING: Malaysian small and medium enterprises (SMEs) now have a new avenue to unlock working capital and improve cash flow, thanks to the strategic partnership between Funding Societies, Southeast Asia’s largest SME digital finance platform, and TASConnect (Malaysia) Sdn Bhd.
Through the collaboration, Funding Societies’ statement said that SMEs on the TASConnect platform can access Funding Societies’ tailored supply chain financing solutions, including invoice financing of up to RM1 million, designed to address liquidity challenges and foster business growth.
“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,” it said.
Following this, it pointed out that 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,” it said.
Commenting on this, Funding Societies Malaysia Country Head Chai Kien Poon expressed their excitement in the collaboration 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 is a win-win for businesses of all sizes, enabling financial resilience and long-term growth,” he said.
Meanwhile, TASConnect (Malaysia) chief executive officer Wendy Ang said that their 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 barriers but also transforms access to capital into a powerful catalyst for success and economic growth across the region,” she said.
