Small and medium enterprises (SMEs) in Malaysia received a major boost recently with Cheng & Co’s strategic partnership with Funding Societies. The significance of this partnership opens new doors for SMEs to raise funds via the peer-to-peer (P2P) financing platform. Cheng & Co will identify promising clients with great market potential and refer them to Funding Societies. The latter will then proceed to arrange funds for eligible SMEs, through its pool of investors.
Peer-to-Peer ( P2P )Lending
While P2P financing is still in its infancy in Malaysia, it is well established in other major markets. A couple of months ago, The Star Online highlighted data from Research and Markets which states that the global P2P lending market, valued at US$26 billion in 2015, is projected to reach US$460 billion by 2022, growing at a compound annual growth rate of 51.5%.
With the leading homegrown international accounting firm and Funding Societies – recognised and regulated by Securities Commission Malaysia – coming together, Cheng & Co’s clients and SMEs in general can look forward to greater opportunities to raise working capital to pursue further business growth.
Funding Society has also joined in our Cheng & Co budget 2017 roadshow to raise awareness on the current changes in the budget, as well as to introduce SMEs the alternative lending platform (P2P) to raise working capital financing for potential business growth.
Additionally, in recent trip to Singapore, Cheng & Co is also looking forward to work with Funding Society Singapore to expand its services to SMEs in Singapore. We will be working closely with Singapore based accounting firm such as ACUMEN Assurance and Alpha Corporate Services to carter to SMEs both in Malaysia and Singapore.
This strategic partnership is in line with Cheng & Co’s mission as a One-Stop Professional Centre providing businesses with innovative solutions for excellence to help clients and SMEs realise their full potential and become successful organisations.
Wait no more. Give us a call right away to take full advantage of Cheng & Co’s collaboration with Funding Societies to give your business the boost it needs. Call us at +603 7984 8988 and we will thoroughly guide you on P2P financing.
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