Tagged: msmes

Fintech: Digital Finance Platform Funding Societies Raises $7.5m for SE Asia SMEs

Funding Societies (Modalku), a unified small and medium enterprises (SME) digital finance platform in Southeast Asia, has announced raising $7.5 million in debt from Norfund, Development Financial Institution (DFI) operated by the Norwegian government. DFIs have played a significant role in impact investments in Southeast… Read More

Indonesian President Widodo Says Social Commerce Harms MSMEs, Conventional Markets

Indonesian President Joko Widodo, popularly known as Jokowi, raised concerns regarding the influence of social commerce platforms like TikTok Shop on the operations and sales of micro, small, and medium enterprises (MSMEs) and traditional market merchants. He opined that platforms like TikTok should stick to… Read More

Funding Societies, CGC Digital to Support Malaysia-based MSMEs

Small and medium-sized business (SMB) financing platform Funding Societies announced that it has teamed up with CGC Digital, the Fintech division of Credit Guarantee Corporation Malaysia (CGC) in order to support MSMEs operating across the Southeast Asian nation. Via this collaboration, CGC Digital created a… Read More

C2FO, the On-Demand Working Capital Platform, Expands Operations into Mexico with New Subsidiary

C2FO, which claims to be the world’s on-demand working capital platform, announced its further expansion into Mexico with the creation of a Mexican subsidiary. This move bolsters C2FO’s global presence and “reinforces its commitment to empowering all businesses with fast, flexible and equitable access to… Read More

Financial Wellbeing: Accion, Mastercard to Connect Clients to Digital Financial Services

Building on four years of work together to enable digital transformation among small businesses, Accion and the Mastercard Center for Inclusive Growth announced a renewal of their partnership and a sustained commitment “to improve the financial health of micro and small enterprises (MSEs) in emerging… Read More

ASEAN Survey: Digitalization Advances Financial Inclusion for Women, Micro Business Owners

The World Economic Forum has launched the ASEAN Digital Generation Report 2022, the sixth edition of the report since 2017. This year’s report “examines digital financial services, gaps in access and where businesses, governments, and civil society organizations need to improve financial inclusion.” The report… Read More

Singapore: MAS, UNCDF to Develop Financial Ecosystems for Least Developed Nations

The Monetary Authority of Singapore (MAS) and the United Nations Capital Development Fund (UNCDF) have signed a Memorandum of Understanding on 11 November 2022 “to jointly develop integrated and digital financial ecosystems for micro, small and medium enterprises (MSMEs) from least developed countries (LDCs).” The… Read More

Indonesia: New Digital Banking Service Launched by Bukalapak, Standard Chartered

Indonesia’s “first” public-listed technology company, Bukalapak, and Standard Chartered officially launched BukaTabungan, a digital banking service that “leverages the reach of Bukalapak’s all-commerce platform and the technology of nexus, a Banking-as-a-Service (BaaS) solution powered by Standard Chartered.” This follows from an earlier announcement on their… Read More

MENA’s BNPL Firm valU Acquires Fintech Paynas

valU, MENA’s Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced that it “acquired 100% of Paynas, a full-fledged employee management and benefits company that provides financial services to micro, small, and medium enterprises (MSME) in a signing ceremony attended by Dr. Rania A. Al-Mashat, Minister of… Read More

BT, Barclaycard Payments to Offer Exclusive Benefits for UK Micro-Businesses

BT has announced Barclaycard Payments as the latest business “to join its new partnership network, aimed at helping the UK’s smallest firms to grow.” Barclaycard has signed up to BT’s partnership network, “following The Federation of Small Businesses (FSB), with the aim of delivering a… Read More

Green Link Digital Bank Commences Operations in Singapore

Green Link Digital Bank (GLDB) commences banking business. GLDB seeks to serve Micro-Small-Medium-Enterprises (MSMEs) with banking and financial services “through their supply chain financing and innovative, easy-to-use technological solutions.” GLDB seeks to leverage their experience in supply chain financing and innovative, easy-to-use technological solutions “to… Read More

ICICI Bank Introduces India’s “First” Comprehensive Digital Ecosystem for MSMEs

ICICI Bank (BSE: ICICIBANK, NYSE:IBN) announced that it has introduced India’s “first” comprehensive digital ecosystem for all MSMEs in the country, “including customers of other banks.” The ecosystem “has three pillars: i) enhanced banking services for existing customers, ii) a bouquet of banking services to… Read More

Funding Societies Offers Sign with Singpass for MSMEs, Streamlining Digital KYC Process

Funding Societies, which claims to be Southeast Asia’s largest SME digital financing platform, recently announced that it has teamed up Dedoco, a “decentralized” digital document and workflow management platform, in order “to become one of the first FinTech platforms to enable micro, small and medium… Read More

Abhishek Singh: Comdex CEO Talks About the Potential of Commodities Market for Retail Investors

Recently, we connected with Abhishek Singh, the Co-founder and CEO of Comdex, a decentralized synthetics protocol working towards making global financing more accessible to the multitude. Developed on the Cosmos blockchain, the Comdex protocol is building solutions to democratize finance. They use synthetic assets to… Read More

Singapore’s Digital Banking Platform IN Financial Technology Acquires MyCash

Singapore-based virtual bank IN Financial Technology (INFT) has now acquired MyCash Money, which is a money transfer company that is mainly focused on migrant workers (for an undisclosed amount). INFT is an end-to-end, employer-to-employee Fintech platform that supports MSMEs operating in Asian markets in order… Read More

Southeast Asia’s SME Fintech App Zaapi Acquires $4M via Seed Round

Zaapi, a mobile app that allows small businesses to establish their digital commerce presence within seconds, has finalized a $4 million seed round. VC investors including GFC, Flourish Ventures, and Partech have led Zaapi’s investment round. Other investors in the funding round reportedly include 1982… Read More

F88, Vietnam’s Secured Lending Provider, Finalizes $10M Senior Secured Loan Facility from Lendable

F88, Vietnam’s secured lending provider and insurance distributor, has reportedly finalized a $10M senior secured loan facility from Lendable Inc, an emerging market Fintech focused on offering debt financing. As mentioned in the announcement, this facility is the first transaction for Lendable in Vietnam and… Read More

Funding Societies, an Asian Online Capital Formation Platform, Shares Key Updates from Past Year

Just a year ago, countries all across the globe were rushing to pull down the shutters on their airports and economies took a massive hit, however, today “paints a different picture,” according to an update from Funding Societies. The team at Funding Societies writes in… Read More

Lista, a Bookkeeping Fintech App for Small Businesses in Philippines, Secures Investments to Expand Operations

Lista, a bookkeeping app for small businesses operating in the Philippines, has secured an undisclosed amount of funding via an oversubscribed round that included contributions from 1982 Ventures, East Ventures, Saison Capital, Alternate Ventures, and various angel investors. The angel investors reportedly include ex- Grab… Read More

Digital Banking: Bangko Sentral ng Pilipinas Awards Virtual Bank License to Voyager Innovations

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, awarded the sixth virtual banking permit to Voyager Innovations via its Fintech division PayMaya Philippines. PayMaya had acquired $167 million in capital from Philippines-based telecom firms PLDT, international investment company KKR, Chinese technology company… Read More

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