Seedflex Technologies Secures Funding to Launch Innovative Digital Financing Solution Across Southeast Asia, Bridging Credit Gap for Cashless Merchants
Seedflex Technologies secures seed funding from 500 Global to launch its shariah-compliant digital financing solution, PAYS Advance, across Southeast Asia, starting with Malaysia. PAYS Advance offers frictionless credit access for cashless merchants, aiming to empower MSMEs and bridge the digital credit gap in emerging markets. 18 April 2024 – Seedflex Technologies (Seedflex), a pioneering inclusive fintech company, has...
Akulaku Secures US$100 Million Debt Financing from HSBC Singapore to Drive Profitability and Expansion in Southeast Asia’s Fintech Landscape
Southeast Asian fintech Akulaku, backed by Alibaba, secures US$100 million debt financing from HSBC Singapore to address existing debts and enhance profitability, emphasizing its improved financial health and commitment to sustainable growth. Despite regulatory challenges, Akulaku remains optimistic about its expansion plans in Indonesia, its primary market, aiming for increased revenue amidst fierce competition in the online lending...
MoneyX: Your AI-Powered Financial Assistant Arrives in Malaysia
MoneyX, a new AI-powered super app launched in Malaysia, aims to simplify personal finance management by offering data organization, financial insights, and access to various financial products within a single platform. 5 March 2024 – Hextar Vision Sdn Bhd, a subsidiary of Hextar Technologies Solutions Bhd (HexTech), today announced the official launch of MoneyX, a super app designed to simplify personal finance management for...
RGE Secures US$1 Billion Sustainability-Linked Loan for Agribusiness Expansion, Reinforcing Commitment to Green Growth
Singapore’s RGE has secured a US$1 billion Sustainability-Linked Loan (SLL) for its agribusiness, incorporating Asian Agri and Apical. The SLL, tied to key performance indicators (KPIs), highlights RGE’s commitment to sustainability, with oversubscription by 1.4 times and the introduction of a Sustainability-Linked Derivative (SLD) reinforcing the company’s dedication to responsible growth and accountability. 29...
Maybank Islamic Pioneers Shariah-Compliant Portfolio Financing to Enhance Islamic Wealth Management
Maybank Islamic has become the first Islamic bank in Malaysia to launch a Shariah-compliant portfolio financing solution, enhancing its Islamic wealth management (IWM) offerings. The move aligns with the growing demand for ethical and purpose-driven investments, and Maybank Islamic aims for a 30 percent business growth by the end of the year with the introduction of this new solution. 24 January 2024 – Maybank Islamic Bhd has...
Finalyst Unveils Innovative Platform to Address Malaysian Youth Debt Crisis Through Financial Health Assessment
Finalyst, a homegrown FinTech platform, has launched a pioneering financial health assessment service to tackle the high debt levels among Malaysian youth, attributed to financial illiteracy. The platform, equipped with cutting-edge technology, offers custom financial plans, visualization of scenarios, and monitoring functionalities, aiming to redefine the financial planning landscape in Malaysia. 24 January 2024 – Homegrown...
Bursa Malaysia Launches SME X Platform for Enhanced SME Fundraising and Investor Connections
Bursa Malaysia, in partnership with the Companies Commission of Malaysia (SSM), introduces the SME X Platform, a groundbreaking initiative facilitating corporate fundraising for SMEs. Leveraging data and technology, the platform connects SMEs with potential investors, offering comprehensive insights into company performance. The platform is a result of a collaboration between Bursa Malaysia and SSM, aimed at enhancing data analytics...
Funding Societies Secures Major Investments to Propel MSME Financial Inclusion and Expansion Across Malaysia
Funding Societies Malaysia, a leading fintech firm, has secured strategic investments from Khazanah Nasional Bhd and CGC Digital Sdn Bhd to extend its services beyond major cities, with a goal to serve over 25,000 micro, small, and medium enterprises (MSMEs) in Malaysia by the end of 2025. This capital infusion aims to address a substantial RM90 billion (US$19 billion) funding gap for MSMEs and enhance financial inclusion through...
Shopee Expands Influence in Brazil with Strategic Acquisition of Blu’s Local Credit Arm
Shopee, the Singapore-based e-commerce giant, has acquired the local credit arm of Brazilian fintech Blu, marking a strategic move to provide direct credit services in Latin America’s largest economy. The deal, with preliminary approval from Brazil’s antitrust regulator Cade, follows Shopee’s aim to enhance its Brazilian operations and reduce costs, as highlighted in a November legal filing. 19 December 2023 –...
Hextar Technologies Launches MoneyX, a Revolutionary Fintech Super-App, to Simplify Financial Management and Literacy
Hextar Technologies has introduced MoneyX, an all-in-one fintech super-app that leverages AI tools to simplify personal financial management and enhance financial literacy. The app includes a secure digital vault and partnerships with multiple financial institutions, aiming to serve one million users by the next year. 26 October 2023 – Hextar Technologies Solutions Bhd, through its wholly-owned fintech unit, Hextar Vision Sdn...
Bank Negara Malaysia Commits RM600 Million to Supercharge MSMEs in Belanjawan 2024
Bank Negara Malaysia is injecting RM600 million into its Fund for SMEs, with allocations for microentrepreneurs, small contractors, agrofood initiatives, and green certifications. The move is in line with the Belanjawan 2024 plan to support MSMEs, with an additional RM25 million to assist low-income microentrepreneurs. 23 October 2023 – In a strategic move to bolster the growth of micro, small, and medium enterprises (MSMEs),...
Empowering Women Entrepreneurs: MADCash Secures Five Million Ringgit Investment for Expansion
MADCash, a fintech startup focused on empowering women entrepreneurs through zero-interest microfunding, has successfully secured a five million ringgit investment in its pre-Series A funding round led by Artem Ventures. This investment will drive the expansion of MADCash’s initiatives, including the launch of MADCash Academy, with the aim of supporting over 800 women entrepreneurs by the end of the year. 3 October 2023 –...
Funding Societies and CGC Digital Unite to Reshape Financing Landscape for Malaysian MSMEs
Funding Societies and CGC Digital have forged a pioneering partnership to revolutionize financing for underserved micro and small enterprises (MSMEs) in Malaysia. By leveraging alternative data and a digital-first approach, the collaboration aims to offer transformative financial solutions through a Shariah-compliant digital supply chain financing (DSCF) platform, enabling broader and more affordable access to credit guarantees. 9...
CapBay Surpasses RM1 Billion Funding Milestone for Underserved SMEs
CapBay has reached a remarkable milestone by disbursing over RM1 billion in funding to more than 400 underserved SMEs, demonstrating its dedication to empowering businesses and offering safe investment options. With a default rate below 0.1%, CapBay’s advanced technology and AI-driven credit model have enabled financing for creditworthy SMEs, challenging the perception of alternative investments being high-risk. 14 July 2023...
