Funding Societies Malaysia and Razer Fintech announced a partnership to offer short-term business financing to MSMEs under Razer Merchant Services (RMS) – Razer’s B2B platform.
This short-term business financing will benefit Malaysians micro, small and medium enterprises (MSMEs) including those retailers, F&B vendors and also online sellers. It is said that more than 20,000 of these MSMEs will be connected to the Funding Societies’ financing solutions via the Razer Merchant Services.
The short-term business financing will benefit more than 20,000 MSMEs
In the media statement, CEO of Razer Fintech Lee Li Meng said MSMEs have been the most underserved but hardest hit by the Covid-19 pandemic. The short-term business financing provided is expected to propel growth for these affected businesses. They truly understand the challenges MSMEs face – especially during these crucial times.
The partnership between Funding Societies and Razer Fintech will potentially be rolled out across Southeast Asia to empower enterprises in their post-covid recovery.
The short-term business financing could come in handy for eligible merchants in this current challenging time
Eligible merchants will gain access to short-term financing to help them meet common operational costs. This include waivers of retention sums, fast disbursement between 3-5 working days, flexible tenures between 6-18 months, no collateral requirement and minimal documentation.
Funding Societies is the largest digital financing platform in Southeast Asia – specialising in peer-to-peer lending and short-term funding specially for SMEs. In the past few years, Funding Societies has financed over 2.8 mill business loans and is recognised by IDS as among the five fastest-growing fintechs in Singapore.
Razer Fintech on the other hand is now the largest offline-to-online digital payment networks in emerging markets – processing billions of dollars in total payment value.