Roehl Niño Bautista · · 1 min readFunding Societies taps MatchMove for MSME credit access
Funding Societies, a digital financing platform focused on Southeast Asia, has picked banking-as-a-service provider MatchMove to offer Mastercard-backed credit cards to Singapore’s MSMEs.
Photo credit: MatchMove
The partnership addresses the dilemma of business owners using personal credit cards for company-related expenses, which brings in credit limits and higher fees.
MatchMove’s solution allows Funding Societies “to decide on the real-time funding requests,” which also solves issues relating to underfunding and overfunding, said MatchMove chief commercial officer Amar Abrol.
Elevate, the Mastercard-branded card, will give interest-free lines for 55 days on top of the usual benefits of world business debit cards.
Singapore’s SME sector contributes 43% of the country’s gross domestic product. It also employs 70% of the local workforce.
See also: 50 rising startups in Singapore
Editing by Miguel Cordon and Lorenzo Kyle Subido
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