Singapore-headquartered MSME lending platform Funding Societies has raised an investment from Khazanah Nasional, Malaysia’s sovereign wealth fund, and CGC Digital, a subsidiary of Credit Guarantee Corporation Malaysia. The amount is undisclosed.
The investment was made under Khazanah’s Dana Impak mandate, which invests in Malaysian companies that can deliver sustainable economic and societal values.
With the fresh funds, Funding Societies aims to expand its Malaysian operations beyond Kuala Lumpur, Selangor, Penang, and Johor, as well as to serve more than 25,000 MSMEs across Malaysia by the end of 2025.
It will also widen the reach of Funding Societies’ Islamic financing solutions. Launched in May 2023, it has disbursed over 100 million ringgit (over US$21.5 million) in Shariah-compliant financing in Malaysia.