Funding Societies, Good Foodie Media Offer Instalment Plans For Media Services

Funding Societies, one of Southeast Asia’s (SEA) largest unified small and medium enterprise (SME) digital finance platforms, has partnered with Good Foodie Media  Sdn. Bhd. (Foodie). The latter is one of SEA’s top Lifestyle Focused Digital Media companies, to provide instalment plans to SMEs in the Foodie ecosystem.

Under the partnership, food  and beverage (F&B), lifestyle, and entertainment businesses can access media services up  to RM50,000 via an instalment plan. 

Every month, Foodie’s channels attract over 100 million people from across the region. Some of these popular channels include KL Foodie, Penang Foodie and Singapore Foodie. These channels are made up of passionate, local content creators, and Foodie is seeking to connect F&B businesses with discerning clientele through its brands and platforms on social media.

Access to digital marketing, advertising solutions for SMEs

“We in MDEC are pleased to support the collaboration between Funding  Societies and Good Food Media that provides funding aids to SMEs as they enhance their digital capabilities in alignment with the national strategic initiative, Malaysia Digital (MD),” said Mahadhir Aziz, Chief Executive Officer of Malaysia Digital Economy Corporation.

“Access to both cash flow and digital marketing and advertising solutions are  essential to help these businesses, particularly SMEs, to continue recovering post pandemic. Funding Societies’ partnership with Good Foodie Media combines the two key ingredients to better serve and scale creditworthy, underserved SMEs in this industry,” said Chai Kien Poon, Country Head, Funding Societies Malaysia.

“Through this  new partnership, we want to further improve the accessibility of our packages for new businesses. Now, when they engage Foodie for advertisement, they can “buy-now-and-pay later”, utilising their generated revenue to pay off our packages on a monthly instalment basis,” said Good Foodie Media founder and CEO, Lim Pinn Yang.

How media services instalment plan works

With this new partnership, businesses can purchase content services from Foodie on a 3-month  instalment plan up to RM50,000. Businesses only really need to submit two documents to apply. These are identification documents (directors and company) and 6 months bank statements to apply for  the Shariah compliant instalment plan digitally. 

In order to be eligible, SMEs must meet the following criteria:

• Registered with the Companies Commission of Malaysia (SSM) as one of the  following: a sole proprietorship, a partnership, a private limited company (non subsidiary of listed companies), or an unlisted public limited company with at least 30%  Malaysian ownership
• Have been in operation for at least 6 months
• Have a minimum annual revenue of RM60,000 

The partnership seeks to empower Malaysian businesses, thus enhancing their digital presence and expanding their reach, fostering growth, and building brand awareness in the marketplace.