Funding Societies: SMEs lack awareness in Peer-to-peer financing – SME Conversations Show

Funding Societies, founded in 2015, and registered with the Securities Commission Malaysia is Southeast Asia’s leading SME digital financing platform that provides SMEs access to funding from individual as well as institutional investors.

Currently, Funding Societies partners with online platforms such as Lazada, Carsome and Razer Fintech to offer financing to merchants on these platforms. They also collaborates with Credit Guarantee Corporation to serve as an online one-stop-center for SME loan/financing by providing financing products and services offered by the participating banks and agencies.

Co-founder and chief executive officer Wong Kah Meng deep dives into what Funding Societies does and shed insights on:

• the products and services offered
• the key sectors and customers
• how the peer-to-peer (P2P) landscape has evolved since 2016
• the challenges the peer-to-peer financing industry face during the pandemic
• how they assisted SMEs digitise their business operations through their Supply Chain Financing Platform (Silkroad)
• how the lockdown in Malaysia impacted their dealer financing business
• the plan to market their products in a scalable manner by educating SMEs on P2P as a way of alternative financing
• the expansion plans strategy for 2022

Guest: Wong Kah Meng, Chief Executive Officer and Co-founder of Funding Societies Malaysia

Host: Brian Fernandez

For more SME Conversations, click the here.