e-Finance platform Pantas will be launching a pre-approved automated invoice financing facility in partnership with Funding Societies to benefit small and medium enterprises (SMEs) in Malaysia.
The collaboration will be targeted at providing SMEs with easy-to-access financial possibilities. This will involve reducing the conventional time spent to as little as two business days on the end-to-end invoice financing process via Pantas’ free e-invoicing software.
Speaking on the collaboration, Pantas co-founder and CEO Max Lee reiterated the importance of businesses having a ‘financial safety net for the rainy days.’ “The pre-approved financing will provide SMEs with seamless access to working capital and alleviate cashflow constraints.
“Businesses that utilise Pantas’ free software to digitise their billing, invoicing and payment process will automatically gain access to the pre-approved financing facility. The partnership with Funding Societies enables us to extend our reach to the underserved SMEs who could benefit greatly from these solutions,” he continued.
Adding to that, Funding Societies Malaysia’s co-founder and CEO, Wong Kah Meng said the partnership would “enhance both the choices and the speed at which financing solutions will be offered to underserved SMEs.”
“Since its introduction, our invoice financing products have helped SMEs to optimise cash flow, eliminate long-due invoices concern, access liquidity, and improve working capital performance.
Meanwhile, the fintech startup has also partnered with MDEC to be part of their flagship SME Digital Accelerator programme, created to assist Malaysian SMEs by providing a structured approach to adopting digitalisation.