Kuala Lumpur, Malaysia – Funding Societies has expanded its partnership with foodpanda to introduce tailored financing opportunities for Bumiputera merchants in Malaysia.
Under this initiative, foodpanda merchants who meet the eligibility criteria can access financing of up to MYR100k (US$22,207). The program offers an attractive annual interest rate of 2% and a flexible repayment period of up to 24 months.
This exclusive financing program is designed to provide local entrepreneurs with the resources needed to expand their businesses in a challenging economic landscape. The partnership builds on the success of previous initiatives, which have supported 500 foodpanda merchants, and aims to further boost growth for underserved micro and small businesses within the foodpanda ecosystem.
By offering reduced financing costs and much-needed capital, the initiative seeks to enhance cash flow and level the playing field for Bumiputera entrepreneurs, empowering them to scale their operations and thrive in the competitive market.
Chai Kien Poon, country head at Funding Societies Malaysia, said, “To support these businesses, particularly MSMEs, access to cash flow is crucialWe are hopeful that this partnership between Funding Societies and foodpanda can better assist and scale underserved, creditworthy small and medium-sized enterprises (SMEs) in this industry.”
Meanwhile, Tan Ming Luk, managing director of foodpanda Malaysia, emphasized the company’s commitment to equipping merchants with the necessary tools and resources to succeed in the current competitive landscape.
“This initiative not only provides access to much-needed capital at an affordable rate but also reinforces our commitment to supporting local entrepreneurs, especially as they prepare for the upcoming festive season. Together, we aim to drive meaningful growth and resilience for our foodpanda merchant community,” he said.
