KUALA LUMPUR (March 17): Aspirasi — the micro-financing and micro-insurance brand by Axiata Digital, the digital services arm of Axiata Group Bhd — is collaborating with delivery platform foodpanda, to empower local micro, small and medium enterprises (MSMEs) through digital financing solutions.

In a joint statement yesterday, the firms said all the registered merchants in the foodpanda network can apply for Aspirasi Capital Plus, an initiative from Aspirasi that offers digital Shariah-compliant micro-financing up to RM100,000.

Aspirasi executive director Sheyantha Abeykoon said partnership with foodpanda signified a mutual and important goal to allow greater access to financing for foodpanda merchants in obtaining short-term financing solutions.

“With the added benefits of quick and easy digital application experience, the shorter application process and minimum documentation requirement, we have simplified financial access for MSMEs so that they can achieve business success without financial worries,” he said.

Meanwhile, foodpanda Malaysia managing director Sayantan Das said during the past year, many of its vendors were facing financial struggles due to the pandemic.

“We wanted to be able to do our part and assist them to sustain through these unprecedented times. We at foodpanda are pleased to have partnered with Aspirasi to provide financial support for our vendors,” he said.

Aspirasi Capital Plus is a digital financing solution that offers Shariah-compliant micro-financing from RM1,000 to RM100,000.

The terms include no principal repayment for the first three months, profit rate at 1.2% per month, 100% of digital application online, while approved applicants will receive funding within 48 hours.

Aspirasi Capital Plus also offers micro-insurance as an additional benefit to protect approved applicants.