Innovative Collaboration Unlocks Tailored Supply Chain Financing Solutions for Local Enterprises.
Kuala Lumpur, 20 November 2024 – Funding Societies, Southeast Asia’s largest unified SME digital finance platform, has entered into a strategic partnership with TASConnect (Malaysia) Sdn. Bhd., a working capital solutions platform incubated under SC Ventures Holdings Limited, Standard Chartered’s innovation and venture capital arm.
This collaboration aims to enhance financing access for Malaysian small and medium enterprises (SMEs) through innovative supply chain financing solutions. SMEs utilising the TASConnect platform can now leverage Funding Societies’ tailored financing offerings, enabling businesses to optimise cash flow tied up in payables and receivables. Eligible SMEs within the TASConnect network may also access invoice financing of up to RM1,000,000 through this partnership.
This financing solution allows businesses to extend their payables while converting eligible invoices into immediate cash. By unlocking working capital, the initiative supports operational growth, ensures timely payments, and enhances overall financial resilience for SMEs in Malaysia.
The collaboration introduces a supplier-led supply chain financing model that directly addresses the liquidity challenges faced by small businesses. This approach facilitates seamless financial support for suppliers while helping corporates optimise their supply chain strategies, creating a mutually beneficial framework.
This strategic partnership represents a milestone in making financing more accessible to SMEs, underscoring both companies’ commitment to fostering entrepreneurial success and economic growth in the region. By eliminating barriers to funding, the collaboration transforms access to capital into a powerful enabler for Malaysian SMEs to thrive in an increasingly competitive landscape.
The broader objective of this partnership aligns with national economic priorities, addressing the growing financing needs of SMEs in Malaysia. By providing accessible, flexible, and reliable financing options, Funding Societies and TASConnect aim to empower small businesses, catalysing sustainable development across industries.
