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MADCash empowers micro women entrepreneurs to grow their business
Published:  Sep 28, 2021 9:51 AM
Updated: 1:51 AM

“MADCash (Multiply Assist and Donate Cash) started firming up in 2019 when we were accepted into UNCDF Financial Innovation Lab. The initial idea of MADCash is to convert a one time donation into a perpetual donation with the concept of paying it forward as we created a technology platform that makes this process visible. We wanted donors to see who their donation was helping at any moment in time.” says Nuraizah Shamsul Baharin, managing director of Madcat World.

Nuraizah Shamsul Baharin, Managing Director of Madcat World.

Madcat World is a technology based company and MADCash is their current focus as a Syariah compliant Fintech ecosystem builder.

Mar 18, 2020 marked a very critical moment in the history of Malaysia when the government issued a complete lockdown of businesses. This was especially hard for the micro entrepreneurs, those that run small businesses from the roadside or from the home. This unprecedented pandemic caused so many financial crises. Women could not put food on the table, families lost jobs and lived on savings and when the rules relaxed a bit to allow businesses to open, these micro entrepreneurs had no savings left to jump start their business.

Around the world, an estimated 1.7 billion adults don’t even have access to a bank account. That’s where microfinance steps in – not just to help families become self-sustaining, but as a key driver of social change, including women’s empowerment. It’s perhaps not surprising that some 80 per cent of microfinance clients are women.

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Radziah Radzi, impact builder of MADCash shared “This prompted us to do something and that was to raise RM3000 from friends and family. With this RM3,000, we funded 3 ladies in Apr 2020 and within the very next month, they managed to earn RM17,000 total. This was our first validation on our idea and we were so excited. However as the months progressed, we realized that giving money alone is not enough.”

Radziah Radzi, Impact Builder of MADCash

Through the experience of their pilot project funding 3 micro entrepreneurs, MADCash continued to refine their technology platform to be able to track the impact of microcredit in terms of their beneficiary business growth. This included adding training, mentoring and coaching services. MADCash provides the following services: Syariah compliant micro financing, structured entrepreneurship development, build credit standing of entrepreneurs, convert traditional one off giving into multiplying funding cycle by creating technology-based instruments. They serve women micro entrepreneurs from lower income group, Corporate CSRs, Foundations, Waqf, Charity and donors who support the un- and underbanked.

MADCash has received funding from corporate sponsorship and has been appointed as Bank Islam’s Bangkit changemaker. They have also partnered with Global Sadaqah to raise funds and with Microleap Asia as the partner that helps fund a bigger amount to our beneficiary beyond the first funding with MADCash.

MADCash has also received market validation by emerging as Top 6 in the UNCDF Financial Innovation Lab, winner of the Islamic Innovation Challenge in 2019 and recently selected as the Finalists in the Islamic Financial Changemakers organized by SCIEF Saudi Spanish Center for Islamic Economics and Finance and Islamic Development

“Our vision is to be a trusted credit scorer for the unbanked and underbanked entrepreneurs, in Malaysia alone, we have 2.8 million unbanked and 13.7 million underbanked. As MADCash works to build the ecosystem, we focus on being data driven to meet our end goal of generating a credit score for our beneficiaries to qualify for the next round of funding” as explained by Aizah.

MADCash was accepted into MaGIC’s Virtual Global Accelerator Program(GAP) Cohort 05 in 2021. Aizah said that the greatest benefit for MADCash was the discipline to look at business growth and metrics tracking. “Sometimes we get caught up in day to day activities and forget to check where we are going. I truly valued the sessions with mentors who provided invaluable insights and advice.”

To connect with MADCash, do contact Aizah at

This content is provided by Malaysian Global Innovation & Creativity Centre (MaGIC).

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