Digital Penang and FinHero Partner to Empower MSMEs through Financial Inclusion
PENANG, 7 May 2025 – Digital Penang and fintech solutions provider FinHero (Sisters Inspire Sdn. Bhd.) have signed a strategic Memorandum of Understanding (MoU) to expand access to finance for Penang’s micro, small, and medium-sized enterprises (MSMEs). The collaboration supports Digital Penang’s mission of Accelerating Penang’s Digital Economy by introducing digital-first, alternative financing options and equipping business owners with the skills to navigate them confidently.
The partnership reflects a shared mission to enable inclusive digital growth in Penang, in line with the state’s Penang2030 vision of “A Family-Focused Green and Smart State”. By bridging traditional financial gaps through innovation and education, the initiative seeks to unlock opportunities for businesses often overlooked by conventional financing systems.
At the heart of this collaboration is a commitment to community impact. Through this MoU, Digital Penang and FinHero will roll out programs that help local MSMEs understand and access a new generation of financial tools—including AI-powered automation, alternative credit scoring, and revenue-sharing financial models. These offerings are designed specifically to support enterprises with limited credit histories but strong growth potential.
YB Zairil Khir Johari, Penang State EXCO for Infrastructure, Transport and Digital, as well as Digital Penang’s Vice Chairman, said, “this partnership reflects our shared commitment to ensure financial tools and digital education reach every level of Penang’s business community. Inclusive innovation is the bedrock of a resilient, future-ready economy.”
Unlocking New Pathways to Finance for MSMEs
FinHero will contribute its expertise by providing business-friendly financing options such as invoice-based funding and flexible repayment arrangements. Its proprietary solution, FinXtract, will also support digital adoption by automating data extraction and simplifying repetitive tasks—freeing up time and resources for entrepreneurs. Monthly workshops and seminars will introduce practical fintech applications and encourage awareness of smarter financial strategies.
In turn, Digital Penang will play a pivotal role in outreach and ecosystem facilitation. By connecting FinHero to its network of MSMEs and business associations, and by coordinating educational engagements, Digital Penang ensures that the benefits of this partnership are widely accessible to those who need them most. This collaboration aligns with Digital Penang’s broader mission to elevate Penang’s innovation economy and foster a digitally engaged society.
This partnership expands the financial landscape for MSMEs by offering practical tools and accessible support tailored to their needs. With improved access to digital solutions and flexible financial options, business owners will be equipped to grow sustainably, make informed decisions, and strengthen their resilience in a dynamic economic environment. Inclusive finance becomes a built-in feature of Penang’s evolving digital economy, supporting long-term participation and progress across the business community.
Looking Ahead
The first series of community workshops is set to launch in Q2 2025, bringing fintech insights and financing pathways directly to Penang’s small business owners. Media queries or expressions of interest in participating in future programs may be directed to marketing@digitalpenang.my or visit www.digitalpenang.my for updates.
