Maybank today announced that they are making a strategic investment in Funding Societies, which is one of the financial technology companies with a focus on funding and loans for small and medium-sized companies. However, the value of the investment and holdings taken was not specified by either party.
Funding Societies has disbursed more than RM17 billion to date in helping more than 100,000 small and medium companies in the region. It was started in 2015, and offers assistance to small companies in Malaysia, Singapore, Indonesia, Thailand and even Vietnam.
Maybank's investment is seen to be in line with their vision and commitment in continuing to offer comprehensive financial services. Previously, several parties have also invested in Funding Societies, including Khazanah Nasional, and also SoftBank Vision Fund 2.