Funding Societies Becomes One of the First P2P Operators to Obtain Approval to Operate in Malaysia

On November 3, Funding Societies became one of the 6 P2P platforms, out of over 50 applicants, to obtain approval to operate in Malaysia. The approval established Funding Societies Malaysia’s legal status and future operations. Funding Societies Malaysia also goes by the name Modalku Ventures.

Estimates show that Malaysian SMEs suffer a financing gap of more than 26 billion SGD. As in Singapore, Funding Societies Malaysia will provide short-term loans for promising local SMEs and an attractive alternative investment for lenders.

Through our Malaysian expansion, Funding Societies is one step closer to realizing our vision of becoming the most trusted P2P platform in Southeast Asia.

Read more here.