KUALA LUMPUR: CapBay has achieved a significant milestone by providing over RM1bil in funding to more than 400 underserved small and medium enterprises (SMEs).
This achievement is the result of successful financing through 7,600 investment notes, underscoring the company’s commitment to empowering SMEs and offering attractive investment opportunities for potential investors.
The financial technology (fintech) startup is one of the leading multi-bank supply chain finance (SCF) and peer-to-peer financing (P2P) platforms in the country.
With a default rate of less than 0.1%, CapBay P2P sets a new standard for risk management in the alternative investment landscape.
Its co-founder and chief executive officer Ang Xing Xian said investors could rely on the platform’s record of safeguarding their interests while enjoying net returns of up to 10% per annum.
“This exceptional performance highlights our dedication to challenging the perception that alternative investments are too risky for the average retail investor.
“Our success is attributed to our advanced technology and proprietary credit model, which leverages AI (artificial intelligence) to assess an SME’s repayment ability based on a comprehensive range of traditional and non-traditional data points.
“By embracing innovative algorithms, we enable financing for creditworthy SMEs that would otherwise struggle to secure funding from traditional sources,” he said when met during a programme to share the achievements with investors and clients here yesterday.
Ang said the company has also developed an auto invest feature that automatically diversifies investors’ portfolios in order to enhance the safety of P2P investments and ensure good returns.
“We offer tailored financing solutions to SMEs in various industries. By understanding each industry’s requirements, the needs of underserved SMEs across Malaysia could be addressed,” he said.
Source: https://www.thestar.com.my/business/business-news/2023/07/14/capbay-achieves-rm1bil-financing-milestone