Bank Pembangunan Malaysia Berhad (BPMB), through its subsidiary Ecologitec Sdn Bhd, has announced a strategic partnership with Funding Societies, Southeast Asia’s largest unified SME digital finance platform, to introduce the SME Digital Partnership. This collaboration aims to enhance financing options for small and medium-sized enterprises (SMEs) in Malaysia.
The SME Digital Partnership will leverage BPMB’s Matching Fund Investment Platform scheme to address the financing challenges faced by SMEs, particularly those struggling to secure traditional funding. As part of this initiative, BPMB will allocate RM10 million to Funding Societies, targeting businesses in high-growth sectors such as technology, infrastructure, and manufacturing. This allocation complements BPMB’s existing services through Pembangunan Leasing Corporation.
Roni Abdulwahab, Group Chief Executive Officer of BPMB, highlighted the significance of the partnership. “This collaboration with Funding Societies is a key milestone in our mission to support SMEs. By bridging the funding gap and promoting financial inclusion, we aim to empower SMEs and contribute to national development,” he said.
Kah Meng Wong, Group COO, Co-Founder, and CEO of Funding Societies Malaysia, expressed his enthusiasm about the partnership. “We are honored to collaborate with BPMB to extend credit to underserved MSMEs. This partnership underscores the role of developmental financial institutions and digital finance platforms in broadening the financing landscape and strengthening capital markets,” Wong stated.
Funding Societies, renowned for its leadership in SME digital finance across Southeast Asia, operates in major markets including Singapore, Indonesia, Thailand, and Vietnam, providing over US$1 billion in business financing annually.
This partnership supports the Securities Commission’s five-year roadmap to enhance MSME and MTC access to the capital market, positioning the SME Digital Partnership as a significant contributor to Malaysia’s economic growth.
