Maybank has announced a strategic investment in Funding Societies | Modalku (Funding Societies), the largest unified digital finance platform for micro, small, and medium enterprises (MSMEs) in Southeast Asia. This investment aims to foster inclusivity and bridge funding gaps within the communities that Maybank serves.
This transaction marks the first investment under a new initiative at Maybank, which seeks to strategically invest in and partner with top-tier digitally-enabled organizations throughout ASEAN. The move is part of Maybank’s broader strategy to accelerate innovation within the MSME community, aligning with its M25+ strategic thrust that focuses on enhancing digitalization through ecosystem orchestration both within and beyond the banking sector.
Funding Societies, established in 2015, is a regional financial technology company that specializes in providing financing to MSMEs. Since its inception, it has disbursed over US$4 billion in business financing, positively impacting more than 100,000 businesses across Malaysia, Singapore, Indonesia, Thailand, and Vietnam. Notably, Funding Societies was one of the first entities registered as a Recognised Market Operator by the Securities Commission Malaysia.
Dato’ Khairussaleh Ramli, President & Group CEO of Maybank, emphasized, “Maybank has consistently championed small and medium enterprises—the backbone of ASEAN economies. Our investment in Funding Societies underscores our commitment to driving financial inclusion, in line with our purpose of Humanising Financial Services. By leveraging our banking expertise alongside Funding Societies’ innovative digital platform, Maybank is committed to fostering a robust SME ecosystem and ensuring a brighter, more sustainable future for all.”
Mr. Kelvin Teo, Co-founder and Group CEO of Funding Societies, stated, “We are honoured by Maybank’s support, reflecting a shared commitment to serve MSMEs in Malaysia and the region. This partnership reaffirms our dedication to extending credit access to underserved MSMEs that face cash flow management challenges—an area we are progressively expanding to help these businesses fulfil their business potential.”
