CapBay Crosses the RM100 Million Mark With Its P2P Financing Platform
by Fintech News Malaysia December 11, 2020CapBay, a Malaysian P2P supply chain financing platform, has provided RM 100 million in funding across 500 investment notes on its platform since its launch 9 months ago in March 2020.
This milestone is part of CapBay Group’s strong track record of providing supply chain finance since 2017, facilitating a total of RM 800 million across 9,000 transactions covering underserved SMEs.
CapBay was part of the second batch of P2P license recipients last year, while the first batch were announced back in November 2016.
CapBay launched its P2P platform amid the COVID-19 situation with the intention of widening access to financing to the underserved SMEs.
Wong Jian Eu
“We are thrilled to achieve such a milestone especially while still plagued by the impact of COVID-19. That we have been able to do this in record time shows our ability to provide sustainable growth for both our SME clients and investors. Here in CapBay, we strive to continuously offer high quality investments for our investors.
Through robust risk management and advanced credit scoring, we ensure our investors’ interests are protected. Since the Overnight Policy Rate (OPR) cuts, we know that investors are actively looking for more high-quality investment products that are safe and low risk while generating healthy income. CapBay aims to fill this gap,”
said Wong Jian Eu, CapBay’s Head of P2P.
With recent strategic partnerships inked between top institutions and CapBay, P2P investors can now invest alongside institutional investors in a safer asset class backed by government and corporate receivables. P2P investors on CapBay have earned net returns of 10% p.a.
CapBay also recently announced a 49% stake acquisition of Kenanga Capital Islamic to set up an Islamic Fintech joint venture
Featured image: Wong Jian Eu, Head of P2P at CapBay
