Funding Societies, a unified SME digital financing platform, has partnered with Food Market Hub and Supply Bunny, two solution providers for food and beverage (F&B) supplies in Malaysia, to launch a new business-to-business (B2B) embedded financing programme, the first of its kind in the F&B industry, for restaurants and F&B outlet operators in Malaysia.
Powered by Funding Societies, the embedded financing in this tripartite partnership allows for seamless integration into Food Market Hub and Supply Bunny’s solutions. This enables the 3,000 F&B operators on Food Market Hub’s platform to receive their inventory orders from the 800 suppliers on Supply Bunny’s platform seamlessly.
The embedded financing works by giving the F&B operators the option to defer payment up to 30 days from the date of delivery; simultaneously, the suppliers receive payment upon delivery.
With cash flow management being essential for small and medium enterprises (SMEs) including those in the F&B segment, the initiative will therefore allow restaurant operators to better manage their cash flow and working capital as they focus on sustaining or growing their businesses.
Chai Kien Poon, country head of Funding Societies Malaysia, said, “Access to capital remains key to SMEs in the F&B sector as they seek to meet the increased customers’ demand post-pandemic and to help them scale their operations.
“Hence, getting easy and direct access to financing is critical. By partnering with Food Market Hub and Supply Bunny, Funding Societies will be able to serve and scale creditworthy, underserved SMEs in the F&B industry.”
Successful restaurant and F&B outlet operators are eligible for a collateral-free, financing facility of up to RM50,000 under the B2B financing programme, with end-to-end application processes taking approximately two weeks.
Based on the financing quantum being applied, restaurant operators may only be required to submit the completed application form as well as a copy of their NRIC.
The financing programme is now available on both Food Market Hub and Supply Bunny marketplaces. Restaurant operators are invited to sign up and take advantage of this new financial solution.
For more information, please visit https://www.foodmarkethub.com/
