Digital financier, Aspirasi, has collaborated with the delivery platform, foodpanda, to empower Malaysia’s MSMEs through digital financing solutions.
All the registered merchants in the foodpanda network can apply for Aspirasi Capital Plus, an initiative from Aspirasi that offers digital Shariah-compliant micro-financing up to RM 100,000*.
Sheyantha Abeykoon, Executive Director of Aspirasi said, “Our partnership with foodpanda signifies a mutual and important goal to allow greater access to financing for foodpanda merchants in obtaining short-term financing solutions. With the added benefits of quick and easy digital application experience, the shorter application process and minimum documentation requirement, we have simplified financial access for MSMEs so that they can achieve business success without financial worries.”
“While the Malaysian Government has been implementing various stimulus packages during the Covid-19 pandemic, we understand that not every MSME will be fortunate enough to land this assistance. To fill those gaps, we complement the traditional banks and financial institutions to ensure they will receive the right support when they need it no matter where they are in their business journey” Sheyantha added.
“The past year was nothing like any of us have experienced before. After speaking with our vendors, we understood that many of them were facing financial struggles due to the pandemic. We wanted to be able to do our part and assist them to sustain through these unprecedented times. We at foodpanda are pleased to have partnered with Aspirasi to provide financial support for our vendors,” Sayantan Das, Managing Director, foodpanda Malaysia said.
“Since the start of the Covid-19 pandemic last year, our sales dropped drastically throughout 2020. We still had to continue paying rent, salary, utilities, and restocking the goods. On top of that, we were forced to use up all of our savings just to sustain. Thankfully, we have managed to keep afloat ever since the introduction of Aspirasi Capital Plus. This initiative was very important to vendors like me as it helped me with some rolling capital to survive during the pandemic,” said Khairul Anuar, El Fresco Kitchen, a foodpanda vendor.
“Over the past year, the Covid-19 pandemic has heavily impacted small businesses like mine. My cash flow has been very tight right until the introduction of Aspirasi Capital Plus. The initiative has provided me an additional financial cash flow to sustain and keep my business running. It was a very important initiative for a restaurant like mine to ensure we get through our daily business. Not only is this a great opportunity for us to sustain, but it is a great scheme to help us have a reserved amount of cash flow in case of any more unforeseen circumstances,” Leong, Tasty Nasi Lemak, a foodpanda vendor said.
Aspirasi Capital Plus is a digital financing solution that offers Shariah-compliant micro-financing from RM1,000 to RM 100,000. With favorable terms such as no principal repayment for the first 3 months, profit rate at 1.2% per month, 100% of digital application online. Approved applicants will be receiving funding within 48 hours too. To ensure customers are financially protected, Aspirasi Capital Plus also offers micro-insurance as an additional benefit to protect approved applicants