CapBay shatters record for being the fastest fintech to hit RM100 million in Peer-to-Peer Financing
CapBay P2P finances RM100 million with average net returns of 10% p.a. since implementation of Movement Controlled Order (“MCO”)
SMEs benefit from alternative financing amid trying times while CapBay maintains a <0.1% default rate in the financing provided
Strategic partnerships expand opportunities to invest alongside institutions in a safer asset class backed by government and large corporate receivables
KUALA LUMPUR, 11 December 2020 – CAPBAY, a Malaysian Multi-Bank Supply Chain Finance and Peer-to-Peer Financing (“P2P”) platform has achieved a key milestone by successfully funding RM 100 million across 500 investment notes on its P2P platform since its launch 9 months ago in March 2020. This achievement 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 licence 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. Since then, they have surpassed the RM100 million mark, setting a new record for the shortest time to achieve RM100 million among its peers. According to Securities Commission Malaysia data, the whole P2P industry cumulatively raised RM80 million in June 2018 when many of the first batch of licensees launched their P2P platform three years earlier in early 2017.
“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,” said Wong Jian Eu, CapBay’s Head of P2P.
Wong Jian Eu, Head of Peer-to-Peer Financing of CapBay
Strategic Partnerships Expand Investment Opportunities for CapBay’s P2P Platform Backed by Government and Large Corporate Receivables
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 differentiates itself by offering lower risk investment notes. By leveraging on its strong technological infrastructure, CapBay can provide cost-effective financing solutions with low credit risk. This has been reflected in its track record of <0.1% default rate on its P2P platform. CapBay’s expertise in the key areas of technology, credit and risk management has earned them the accolade “Fintech Startup of the year 2020” by The Asset Triple A Digital Awards.
“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,” added Wong.
For more information on CapBay’s P2P Investment platform, please visit www.capbay.com/invest/