TheLorry Partners With microLEAP for up to RM 500,000 in Shariah-Compliant FinancingApril 11, 2022 0 comments
Shariah-compliant P2P financing platform microLEAP announced a strategic and multi-faceted partnership with TheLorry, a Malaysian logistics tech platform.
This strategic collaboration provides TheLorry with flexible and convenient invoice financing as well as term financing options through microLEAP’s network of local investors seeking Shariah-compliant investment opportunities.
The partnership comes at a time when TheLorry is looking to fulfil customer orders on behalf of blue-chip companies and local merchants operating via online platforms and local hypermarkets.
The deal has a maximum cap of up to RM 500,000 per investment note over a 3-month period for invoice financing and a 12-month period for term financing, whereby both options will be Shariah-compliant.
microLEAP said that investors can expect to see gross returns of up to 15% annually.
Moving forward, microLEAP added that it is looking to expand its presence through various partnerships with both public and private entities.
To date, microLEAP has disbursed over RM20 million of financing to its issuers.
Tunku Danny Nasaifuddin Mudzaffar, Founder and CEO of microLEAP said,
“We are thrilled to have a leading, homegrown tech company like TheLorry come onto our platform and provide investors with yet another strong financing investment opportunity with solid returns.
This is very much a win-win situation for all parties involved and we look forward to successfully carrying out this long-term initiative.”
Nadhir Ashafiq, Group Co-CEO of TheLorry said,
“Being a market leader in the logistics industry for 8 years and constantly supporting Small and Medium Enterprises (SMEs), we are more than delighted to establish this partnership as it is in line with our vision of supporting local businesses.
As international borders reopen, we hope that this new financing method will ensure smoother, more seamless business operations for our trusted merchants,”