Khazanah, CGC Digital Invests in Funding Societies to Bridge RM 90B Funding Gap

1/3/20241 min read

Malaysia’s sovereign wealth fund Khazanah Nasional and CGC Digital have made a strategic investment in SME digital financing platform Funding Societies. The sum was not disclosed.

The investment is expected to enable Funding Societies to expand its reach beyond beyond Kuala Lumpur, Selangor, Penang, and Johor. The firm targets to serve over 25,000 MSMEs across the country by the end of 2025.

This expansion includes widening the availability of Islamic financing solutions, with over RM100 million in Shariah-compliant financing already disbursed since its introduction in May 2023. - fintechnews Malaysia