CapBay baggage US$20M Collection A to scale its multi-bank provide chain finance, P2P financing platform

CapBay, a Malaysian multi-bank provide chain finance and peer-to-peer financing platform, introduced in the present day it has raised US$20 million in Collection A spherical.

The contemporary funding comes from returning backer Singapore-based KK Fund and several other Malaysian angel traders with experience in finance, expertise and rising startup corporations.

As per a press observe, CapBay goals to make use of the funds to additional strengthen its technological and funding capabilities. It should allow extra environment friendly financing and market growth with a purpose to attain a wider vary of traders and underserved small and medium-sized enterprises (SMEs), it claimed.

Launched in 2016, CapBay makes use of present commerce knowledge and relationships to facilitate inclusive enterprise financing. By its propriety credit-decisioning mannequin, companies can acquire short-term financing whereas banks and traders can take part in financing offers.

Additionally Learn: Why P2P lending will be the top of banking as we all know it

CapBay stated it has funded MYR 100 million (US$24.7 million) throughout 500 funding notes on its P2P platform since its launch in March 2020. Its provide chain finance arm has facilitated greater than MYR 800 million (US$198 million) throughout 10,000 transactions protecting SMEs.

CapBay has expanded funding alternatives for P2P traders on its platform via varied strategic partnerships.

The Malaysian agency was chosen to be a part of nationwide telco Telekom Malaysia’s Vendor Financing Programme in September 2020. This allowed P2P traders on Capbay’s platform to take a position alongside institutional traders in a safer asset class backed by the federal government and company receivables.

CapBay additionally lately entered a three way partnership with Kenanga Funding Financial institution by buying a 49 per cent stake in Kenanga Capital Islamic to create Malaysia’s first Islamic provide chain finance fintech.

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Picture Credit score: CapBay

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