Kenanga Capital Islamic Partners CapBay To Digitise Factoring Solutionby Fintech News Malaysia August 20, 2020 0 comments
Kenanga Investment Bank Berhad’s (“KIBB”) subsidiary, Kenanga Capital Islamic Sdn Bhd (KCI) has partnered with digital supply chain financing company, Bay Group Holdings Sdn Bhd (CapBay), in a bid to digitise the traditional factoring market in Malaysia.
Registered and regulated by the Securities Commission of Malaysia since its inception in 2016, CapBay is known for its its P2P financing platform.
Entrepreneurs in the country seeking to finance its invoices and receivables, regardless if they are from the public or private sector, will have a fully digital end-to-end online platform to access cash flow, fast financing including peer-to-peer financing unlocking their ability to grow their business.
“This partnership with CapBay signals yet another milestone in our efforts to digitalise our businesses. Malaysian entrepreneurs will have access to a complete and seamless digital supply chain financing solution, transforming the way working capital is accessed in the country.
Short-term financing solutions such as this, has become instrumental to many entrepreneurs, at a time where many businesses continue to grapple with the impact of the COVID-19 pandemic outbreak,”
said Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad.
Featured image: Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad