Bay Group Holdings Sdn Bhd (CapBay), a homegrown Malaysian supply chain financing provider and leading Peer-to-Peer (P2P) financing company, has teamed up with Olea Global Pte. Ltd. (Olea), a Singapore-based leader in technology-driven trade and supply chain finance solutions. This strategic alliance, formalised at CapBay’s headquarters in Petaling Jaya, is designed to strengthen and develop Malaysian exporters through cross-border trade financing. CapBay and Olea both have the conviction that Malaysia will be the beneficiary in the reshuffle of global supply chains and emerge as a strong exporting country.  The collaboration aims to empower Malaysian enterprises to expand internationally and deliver high-quality products to global markets.

The partnership agreement was signed by Ang Xing Xian, Co-founder and Group CEO of CapBay, and Amelia Ng, Chief Executive Officer of Olea, during a signing ceremony. This collaboration leverages CapBay’s expertise in supply chain financing solutions, its network of Malaysian SMEs and Olea’s global liquidity solutions, international trade network, and cross-border trade expertise.  Olea has processed over $2 billion in transactions across key trade corridors. 

Empowering Malaysia Exporters for Global Growth: A Strategic Partnership

This partnership is a pivotal step in CapBay’s mission to empower Malaysian exporters to thrive in international markets. The collaboration brings together CapBay’s strong SME network and AI-powered credit capabilities with Olea’s global trade finance expertise, aiming to enhance access to capital and streamline cross-border transactions.

Ang Xing Xian
Co-founder and Group CEO 
CapBay

Amelia Ng
Chief Executive Officer 
Olea

Ang Xing Xian, Co-founder and Group CEO of CapBay, stated, “This strategic partnership with Olea underscores CapBay’s commitment to driving Malaysia’s economic growth through innovative financing. By combining our fintech expertise with Olea’s global trade capabilities, we aim to empower Malaysian enterprises to unlock new opportunities in cross-border trade and elevate Malaysian products on the global stage.”

Amelia Ng, Chief Executive Officer of Olea, commented, “ We’re absolutely thrilled to be partnering with CapBay to revolutionise cross-border trade for Malaysian exporters! By combining Olea’s deep expertise in global trade and liquidity with CapBay’s cutting-edge financing infrastructure, we’re creating a powerhouse solution that empowers exporters like never before. Together, we’re not just simplifying international trade — we’re unlocking new opportunities and driving bold, transformative growth for Malaysian businesses on the global stage!”

Jasmine Lau
Director (International Expansion) of CapBay

Jasmine Lau, Director (International Expansion) of CapBay, added, “This partnership with Olea significantly strengthens CapBay’s regional presence, enabling us to better support SMEs in cross-border trade. Currently, cross-border transactions contribute 10% to our Group’s revenue, and we are ambitiously targeting 30% in the coming years, with collaborations like this driving regional growth and global competitiveness.”

CapBay’s Leadership in Fintech Innovation

Since its establishment in 2017, CapBay has disbursed over RM4.3 billion through more than 35,000 financing notes, empowering over 2,200 SMEs across 20 industries. Headquartered in Malaysia, with an active presence in Singapore and Thailand, CapBay is regulated by the Securities Commission Malaysia. The company has gained global recognition, including being the only Malaysian fintech listed on CNBC and Statista’s World’s Top Fintech Companies for three consecutive years (2023–2025), alongside international names such as PayPal, Stripe, Tencent, Grab, and GoTo.

CapBay also ranked among the top 500 in the Financial Times and Statista’s High-Growth Companies Asia-Pacific list in 2024 and 2025, demonstrating sustained growth. Additionally, CapBay was the only Malaysian entity among 60 leading fintechs, including Binance, WeBank, and Grab, named in Fortune’s Fintech Innovators Asia 2024, an accolade by the organization behind the Fortune Global 500. These achievements underscore CapBay’s leadership in supply chain finance and its commitment to empowering businesses through innovation.

Olea’s Expertise in Trade Finance

Olea Global Pte. Ltd. is a leading provider to direct global liquidity to trade and supply chain finance solutions.  With a strong presence in key markets including Singapore, Vietnam, and India, Olea leverages advanced technology to deliver efficient, transparent, and scalable financing — empowering businesses to grow and succeed in the global marketplace.

Looking Ahead

Through this strategic collaboration, new growth opportunities will be unlocked for Malaysian enterprises, contributing to economic development and enhancing the global competitiveness of local exporters. By leveraging CapBay’s regional strengths alongside Olea’s global reach, the collaboration will empower businesses to scale, innovate, and succeed in international markets.

• CapBay offers a dealer financing program to support Sleek EV’s goal of selling 6,000 electric vehicles this year.
• AccRevo joins forces with CapBay to develop innovative financial solutions for SMEs, enhancing cash flow and financial planning for sustainable growth. 
• The MoUs mark a significant milestone in enhancing cross-border cooperation and advancing financial services for SMEs in Thailand

Bangkok, Thailand, 6 August 2024 – Bay Commerce (Thailand) Co., Ltd., a wholly-owned subsidiary of Bay Group Holdings Sdn Bhd (CapBay), today exchanged Memorandums of Understanding (MoUs) with Sleek EV and AccRevo during the Malaysia Digital Economy Corporation (MDEC)’s DEX Connex Thailand 2024 in Bangkok. The MoU with Sleek EV outlines the intentions and commitments of both parties to collaborate and support each other’s business growth and sustainability goals. Similarly, the MoU with AccRevo focuses on joint efforts to enhance business growth and financial service innovation.

Sleek EV is a prominent provider of innovative and sustainable electric vehicles in Southeast Asia. The MoU will enable CapBay to offer a curated dealer financing program designed to improve cash flow for Sleek EV’s authorised distributors. This initiative aims to make it more attractive for potential distributors to join Sleek EV’s network, thereby supporting Sleek EV’s goal of selling 6,000 units of electric vehicles this year.

Conversely, the collaboration between CapBay and AccRevo, a company dedicated to revolutionising accounting practices through innovative technology and digital solutions, will see both companies leverage their expertise to develop customised financial solutions for small and medium-sized enterprises (SMEs), aimed at boosting cash flow, refining financial planning, and delivering crucial resources to support sustainable sector growth.

“We are incredibly excited to forge these strategic alliances with Sleek EV and AccRevo. The MoUs mark a significant milestone in enhancing cross-border cooperation and advancing financial services for SMEs in Thailand.,” said Ang Xing Xian, Co-founder and Chief Executive Officer of CapBay. “Through these partnerships, we aim to empower local businesses to create a meaningful impact on both the business world and sustainable development.”

Mr. Zhang Quan Ong, Co-Founder of Sleek EV commented, “Partnering with CapBay not only strengthens our commitment to delivering cutting-edge electric motorcycles and efficient battery fast charging infrastructure but also supports our vision of a greener, more sustainable future.” 

Rachit Chairat, Chief Executive Officer of AccRevo expressed enthusiasm for the partnership, stating, “This MoU reflects our shared vision of transforming financial management for SMEs. We believe that by working together, we can develop innovative solutions that benefit our stakeholders and contribute to the growth and sustainability of SMEs. We look forward to a fruitful collaboration with CapBay.”

Ts. Mahadhir Aziz, Chief Executive Officer of MDEC, said, “The DEX Connex programme exemplifies our dedication to support cross-border partnerships and advance digital innovation. We are proud to see CapBay, a participant of the Founders Centre of Excellence (FOX) Programme under the national strategic initiative, Malaysia Digital (MD), actively engage in these meaningful collaborations. The MoU exchange with Sleek EV and AccRevo not only enhances regional cooperation but also highlights CapBay’s commitment to driving sustainable development and financial innovation. We look forward to seeing the positive impact these partnerships will have on CapBay’s growth and we are confident they will continue to scale to greater heights.”

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From Left to Right: Jasmine Lau (Director of CapBay), YB Tuan Syed Ibrahim Syed Noh (Chairman of MDEC), Mr. Zhang Quan Ong (Co-Founder of Sleek EV).

From Left to Right: Jasmine Lau (Director of CapBay), YB Tuan Syed Ibrahim Syed Noh (Chairman of MDEC), Mr. Rachit Chairat (Chief Executive Officer of AccRevo).

From Left to Right: Darrel Ang (Co-founder of CapBay), Murali Samy (Audit Partner of Deloitte)