Malaysian sovereign wealth fund Khazanah invested in MSME lending platform
The Malaysian sovereign wealth fund Khazanah Nasional and the Credit Guarantee Corporation Malaysia subsidiary CGC Digital have invested in Funding Societies, an MSME lending platform with its headquarters in Singapore. The sum is not disclosed.
Under Khazanah’s Dana Impak mandate, which invests in Malaysian businesses capable of delivering sustainable economic and societal values, the investment was made.
By the end of 2025, Funding Societies hopes to have served over 25,000 MSMEs nationwide and broaden its operations in Malaysia beyond Kuala Lumpur, Selangor, Penang, and Johor.
It will also increase the accessibility of Islamic financing options offered by Funding Societies. Since its launch in May 2023, it has provided Malaysia with financing that complies with Shariah, totaling over 100 million ringgit, or over US $21.5 million.
In addition to its headquarters in Singapore and Malaysia, Funding Societies has operations in Indonesia (under the Modalku brand), Thailand, and Vietnam.
Norfund, a state-owned investor in Norway, provided US $7.5 million in debt funding for it in November of last year. The money was given to it a few months after it fired 18% of its employees in Indonesia in an effort to create a “leaner organizational structure”.
