Powered By Curlec: Funding Societies Malaysia


“We are now able to open up an additional repayment option to our clients which is automated, resulting in increased customer efficiency and shortened processing time.”

Wong Kah Meng, Co-Founder & CEO of

Funding Societies Malaysia



As the first and largest peer-to-peer (P2P) financing platform in Malaysia, Funding Societies connect creditworthy SMEs with investors through an online marketplace that increases access to financing for SMEs.


Being an alternative financing option that is gaining traction in recent years, Funding Societies help bridge the funding gap by providing an attractive alternative source of capital for local SMEs alike to fund business expansions and meet other financial requirements.



The Challenge


As an investment platform, Funding Societies processes high volume of deposits from investors as well as repayments from SMEs on a regular basis. And due to its operational complexities, processing and reconciling both investments and repayments proved to be a cumbersome task.


On one hand, the team was required to pair each deposit transaction from investors manually, making it an unpleasant experience for investors as it takes approximately 1-2 days for the funds to be reflected in the account. At the same time, the company was also facing late repayments from SMEs, as well as processing tedious cheque payments - hence, the need to manually verify the proof of payment from the issuers, which proves to be both labour intensive and time consuming.



The Solution


Curlec has worked with Funding Societies to implement a payment solution that not only help to streamline the processes, but also optimise their payments by expanding their business through a fast and simple online process.


For investors, they can now make real-time deposit immediately in their Funding Societies account without needing to send in their bank-in slip through Curlec’s Instant Pay (FPX).


And as for SMEs, they can now opt for Curlec’s Direct Debit solution as a repayment option that will automate their payments, resulting in increased customer efficiency and shortened processing time.


Taking control of payments with Curlec’s Direct Debit and FPX solutions, Funding Societies is now staying one step ahead by offering additional payment and repayment options for both investors and SME’s, as well as automating these processes to finally further empower Malaysian SMEs both strategically and economically.

Find out if Direct Debit works for you!

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