PETALING JAYA: Bank Pembangunan Malaysia Bhd (BPMB) via its subsidiary Ecologitec Sdn Bhd has announced a strategic partnership with Funding Societies, the largest unified SME digital finance platform in Malaysia and South-East Asia, to launch the SME Digital Partnership.
This collaboration will leverage on BPMB’s Matching Fund Investment Platform scheme to enhance financing options for small and medium-sized enterprises (SMEs) in Malaysia.
As part of this initiative, BPMB is allocating RM10mil to Funding Societies, providing a significant boost to businesses in high-growth sectors such as technology, infrastructure and manufacturing, complementing BPMB’s existing services through Pembangunan Leasing Corp, the bank said in a statement.
BPMB group chief executive officer Roni Abdulwahab said the bank is committed to delivering impact capital that drives national development.
“By bridging the funding gap and promoting financial inclusion, we empower SMEs, recognising their crucial role in fuelling economic growth. This collaboration reflects our dedication to Malaysia’s developmental agenda and our support for the success of SMEs,” he said.
Funding Societies Malaysia’s group chief operating officer, co-founder and CEO Kah Meng Wong said the partnership highlights the crucial role developmental financial institutions like BPMB and players such as Funding Societies can play in broadening the financing landscape.
