Triple Triumph: CapBay Clinches Coveted Awards In Business, Technology Excellence And High-Growth Company

• CapBay wins Awards at The Malaysia National Business Awards, Malaysia Technology Excellence and Top 30 Financial Times’s High-Growth Companies Asia-Pacific 2024
• CapBay has successfully facilitated over RM3 billion in financing, aiding more than 1,700 SMEs across 20 industries. 
• CapBay has successfully implemented energy-saving measures, resulting in a notable reduction of 150,000 tonnes of CO2 emissions for its clients.

KUALA LUMPUR, 26 March 2024 – CapBay, a leading fintech in a supply chain finance, was awarded the prestigious “Initiative Award – Financial Services” and “ESG Tech – Financial Services” at the Malaysia National Business Awards and Malaysia Technology Excellence Awards 2024, respectively. The awards ceremony, which took place on 21 March 2024 in Kuala Lumpur, recognised CapBay’s significant contributions to the vibrant Malaysian economy through its innovative financial solutions and commitment to sustainability.

Established in 2016, CapBay has transformed SME financing in Malaysia through its in-house Multi-Bank Supply Chain Finance (SCF) Platform. Utilising advanced data analytics and machine learning algorithms, CapBay conducts comprehensive credit assessments of SMEs, considering financial metrics, transactional dynamics, performance monitoring, and industry risks. This approach has facilitated over RM3 billion in financing for more than 1,700 underserved SMEs across 20 diverse industries, bridging the financing gap effectively.

CapBay has streamlined its financing operations by amalgamating access to diverse data sources, analytics tools, and ongoing risk monitoring frameworks. This data-driven approach has enhanced the efficiency of SCF operations, enabling CapBay to offer financing solutions with ticket sizes as low as RM100. 

Investors can invest in this private credit through its Peer-to-peer financing (P2P) platform that is licensed by Securities Commission Malaysia. Guided by an innovative Auto Invest algorithm, the platform strategically diversifies investor funds across a myriad of notes, effectively mitigating concentration risk and optimising returns for investors.  Investors have yielded an average net return of 8.3% per annum, while maintaining an industry-leading default rate of under 0.2%. 

“We are honoured by this recognition from the Malaysia National Business Awards and Malaysia Technology Excellence Awards. These accolades affirm our leading position in the financial services sector and our continuous effort to innovate, empower, and drive meaningful change,” stated Ang Xing Xian, Co-founder and CEO of CapBay. “We remain steadfast in our commitment to nurturing SME development, a critical pillar bolstering Malaysia’s economic landscape.” 

Furthermore, CapBay emphasises Environmental, Social, and Governance (ESG) practices, offering specialised financing programs that promote companies with a tangible ESG impact. Notable examples include financing a flagship solar panel installation project, fostering a flourishing ecosystem across 300 acres and generating renewable energy through over 2,200 solar panels. Collaborating with hospitality groups, CapBay implements energy-saving measures, resulting in a notable reduction of 150,000 tonnes of CO2 emissions for its clients.

CapBay was also ranked 30th place and the top Malaysian company among the top 500 fast-growing companies in the Asia-Pacific region, according to the Financial Times and Statista’s FT High-Growth Companies Asia-Pacific 2024 list. With an impressive 18x growth over the three years leading up to 2022, CapBay further solidifies its position as a market leader.

CapBay’s active participation in Malaysia Digital Founders Centre of Excellence (MD FOX) program spearheaded by Malaysia Digital Economy Corporation (MDEC) aimed at accelerating the growth of high-potential Malaysian technology companies, further underscores its growth potential and steadfast commitment to excellence.

Ts. Mahadhir Aziz, the Chief Executive Officer of MDEC said, “MDEC applauds CapBay’s involvement in the MD FOX program and the dedication shown to foster the growth of future scale-up tech icons. This aligns seamlessly with the Malaysia Digital (MD) national initiative, reinforcing our vision to position Malaysia as the digital hub of ASEAN. Through significant collaborations with tech ecosystem players, MDEC is intensifying efforts to accelerate digital upliftment in the rapidly evolving digital economy.”

From Left to Right: Darrel Ang (Co-founder of CapBay), Louis Karman Lau (Director of Audit at Mazars)