Funding Societies forms partnership with CGC Digital

Wong: CGC Digital’s innovation of CGC’s credit guarantee will mitigate risk for investors and reduce the cost of financing for MSMEs.

FUNDING Societies, the largest unified small and medium enterprise (SME) digital finance platform in the country, has become the first financial technology (fintech) company to partner with CGC Digital, the fintech subsidiary of Credit Guarantee Corp Malaysia Bhd (CGC).

The partnership aims to provide digital credit guarantee through a syariah-compliant digital supply chain financing (DSCF) solution to better address the financing needs of Malaysian micro, small and medium enterprises (MSMEs), who are also the most underserved segments.