Bank SMBC Indonesia has completed the wind-down of its corporate venture capital subsidiary, while Funding Societies has secured a new working capital financing facility.
SMBC Indonesia winds down BTPN Syariah Ventura
Bank SMBC Indonesia has completed the wind-down of its corporate venture capital subsidiary, PT BTPN Syariah Ventura (BTPNSV), after Indonesia’s Financial Services Authority (OJK) revoked the firm’s business licence. The planned dissolution was announced in December last year.
In a disclosure filed with the IDX, the bank said it had received a letter from BTPNSV notifying it that OJK revoked the venture firm’s licence dated Aug. 3, 2026. The licence revocation became effective after the company received the notification on Aug. 5.
BTPNSV is part of the SMBC Financial Conglomerate, with SMBC Indonesia acting as the holding entity.
“The company fully supports the proposed discontinuation of BTPNSV as a standalone legal entity and the integration of the activities currently managed by BTPNSV into the SMBC Financial Conglomerate,” the bank said in the filing. It added that the integration is intended to strengthen the group’s long-term strategy through more integrated risk management and governance while continuing its digital inclusion mission.
SMBC Indonesia said the move is not expected to have a material impact on its financial position, operating results or business activities because the functions currently undertaken by BTPNSV will continue within the financial conglomerate through an integrated organisational structure.
Since its establishment in 2021, BTPNSV has publicly backed only one startup, social commerce platform Dagangan, in which it led a $6.6 million pre-Series B announced a year later. The investment was part of Dagangan’s funding round as the rural-focused commerce startup expanded its digital distribution network across Indonesia.
Funding Societies secures fresh debt facility from Malaysia Debt Ventures
SME lender Funding Societies has secured a new working capital financing facility from Malaysia Debt Ventures Berhad (MDV), adding to its institutional funding base as it expands lending to small businesses in Malaysia.
The lender, which is known as Modalku in Indonesia, said the latest facility extends a relationship that began in 2022, when the Malaysian state-owned lender first backed loans originated through Funding Societies’ platform for technology-focused SMEs.
“One facility from MDV reaches thousands of businesses instead of one at a time,” said Chai Kien Poon, country head of Funding Societies Malaysia. “This facility marks the next step in a long-term partnership.”
MDV, which is wholly owned by Malaysia’s Minister of Finance (Incorporated), said the financing aligns with its mandate to improve access to funding for technology-driven companies and supports the country’s industrial development agenda.
The financing comes as digital lenders continue to rely on banks, development finance institutions and other institutional investors to fund loan originations, complementing equity capital with debt facilities.
Funding Societies said it has disbursed nearly RM7 billion ($1.71 billion) in financing to more than 10,000 Malaysian businesses to date. Since its establishment in 2002, MDV has approved more than RM14 billion in financing across over 1,180 technology projects.
