MADCash Sdn. Bhd., a Kuala Lumpur, Malaysia-based fintech startup focused on providing zero-interest microfunds to women entrepreneurs, closed its five million ringgit pre-series A funding round.
The round was led by Artem Ventures with participation from MSW Ventures and ScaleUp Founders Fund.
The company intends ti use the funds to enhance its online platform using AI technology, cover operational and marketing expenses, and explore expansion opportunities within the Southeast Asia region.
Led by Nuraizah Shamsul Baharin, Managing Director, MADCash is a fintech solutions provider that helps women achieve financial security by providing the capital, business, and financial acumen to grow their micro businesses. The company runs on a proprietary technological platform that allows donors to contribute and see whom their funds are helping at any time.
By the end of this year, MADCash is set to have extended its support to over 800 women. Among its partners are Hong Leong Islamic Bank, and PayNet. In line with this growth, the company added Musyrifah Malek as a Co-Founder.
FinSMEs
03/10/2023