In a significant step towards strengthening financial support for small and medium enterprises (SMEs), Funding Societies, Southeast Asia’s largest SME digital finance platform, has partnered with TASConnect, a working capital solutions technology platform under SC Ventures, Standard Chartered’s innovation and venture capital arm. This collaboration introduces a game-changing opportunity for SMEs in Malaysia, enabling them to access invoice financing of up to RM1 million from Funding Societies.
Unlocking Working Capital
Through this partnership, SMEs using the TASConnect platform can unlock working capital tied up in their payables and receivables. Eligible businesses can now convert pending invoices into immediate cash flow, solving one of the most pressing issues SMEs face—delayed payments and restricted liquidity.
This financing solution is designed to empower SMEs to extend their payables, manage cash flow efficiently, and meet operational demands without disrupting growth trajectories.
Chai Kien Poon, Country Head of Funding Societies Malaysia, emphasised the importance of this initiative, “We are excited to collaborate with TASConnect to offer enhanced cash flow solutions to their ecosystem. This supplier-led supply chain financing solution bridges the liquidity gap faced by SMEs, enabling businesses of all sizes to achieve financial resilience and long-term growth.”
Streamlining Access to Capital
What makes this solution stand out is its tailored approach to meeting the specific needs of SMEs in Malaysia. With an innovative digital platform, TASConnect simplifies the process of securing funding, eliminating complex paperwork and providing a seamless, user-friendly experience.
Wendy Ang, CEO of TASConnect Malaysia, highlighted the significance of this partnership:
“Our collaboration with Funding Societies revolutionises how SMEs secure funding. By removing financial barriers and tailoring solutions for the unique challenges faced by Malaysian businesses, we aim to empower entrepreneurs to thrive. This partnership transforms access to capital into a powerful catalyst for success and regional economic growth.”
A Boost for Malaysia’s SME Ecosystem
SMEs are the backbone of Malaysia’s economy, and access to working capital is critical for their survival and growth. The RM1 million invoice financing programme not only supports SMEs but also strengthens supply chain dynamics, benefiting corporate entities and their suppliers alike.
This strategic collaboration reflects a broader commitment by Funding Societies and TASConnect to address the growing financing needs of Malaysian SMEs, demonstrating how fintech innovation can drive financial inclusion and foster economic development.
This solution opens new doors for Malaysian SMEs, providing them with the financial tools needed to overcome challenges and achieve sustainable growth. Could this be the lifeline your business needs?
