Maybank has unveiled a strategic investment in Funding Societies, Modalku (Funding Societies), Southeast Asia's largest unified digital finance platform for micro, small, and medium enterprises (MSMEs). This investment is intended to promote inclusivity and address funding gaps within the communities served by Maybank.
This transaction represents the inaugural investment under Maybank's new initiative, aimed at strategically investing in and partnering with leading digitally-enabled organizations across ASEAN. This initiative is a key component of Maybank’s broader strategy to drive innovation within the MSME sector, aligning with its M25+ strategic plan, which emphasizes boosting digitalization through ecosystem orchestration both within and beyond the banking industry.
Founded in 2015, Funding Societies is a regional fintech company focused on providing financing to MSMEs. Since its establishment, it has issued over $4 billion in business loans, benefiting more than 100,000 businesses in Malaysia, Singapore, Indonesia, Thailand, and Vietnam. Additionally, Funding Societies was among the first to be 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 fulfill their business potential”.