PEER-to-peer (P2P) financing platform Fundaztic is partnering with Lazada to offer an interest free financing programme for Lazada sellers, under the government’s ePenjana initiative for micro, small, and medium enterprises (MSMEs).
“Being a fully digitalised platform ourselves, we can understand the difficulties and importance of going digital, and we feel strongly about enabling more MSMEs to undergo a similar transformation in order to improve their accessibility and optimise their processes,” said Fundaztic acting CEO Calvin Foo.
The initiative, called the Micro and SME E-commerce Campaign, aims to support an estimated 30,000 unique local MSMEs in digitalising amidst the disruption to businesses from the Covid-19 pandemic, taking some pressure off said MSMEs in taking the digital leap. The campaign ends Sept 30, 2020.
The campaign features a series of customised incentives with zero percent interest financing support for successful applicants. This includes a full subsidy of the online startup cost for eligible merchants.
“We understand that cash flow management is particularly vital to MSMEs in order to sustain their businesses in the long run, and we are confident that this interest free financing program will be welcomed by the Lazada merchants,” added Foo.
According to Lazada Malaysia CEO Leo Chow, the move is part of the online marketplace’s continued investment into Malaysia’s small business community.
We are confident that our continued investment into Malaysia’s small business community will augment Malaysia’s digital ecosystem and further bolster the recovery of the nation’s economy,” said Chow. – Aug 18, 2020
