Malaysia’s P2P Financing Platform CapBay Secures $20M In Series A Round

Malaysia’s P2P Financing Platform CapBay Secures M In Series A Round

CapBay, a Malaysian supply chain finance and peer-to-peer (P2P) platform, has raised $20 million in its Series A
round from returning backer KK Fund, a Singapore-based venture capital firm.

 KK Fund, founded in 2015, invests in seed-stage internet and mobile startups across Southeast Asia, Hong Kong and
Taiwan.

 CapBay’s Malaysian backers include several angel investors with expertise in finance, technology and startups.

 CapBay aims to use the funds to further strengthen its technological and funding capabilities to reach a wide range
of investors and underserved SMEs, according to a statement.

 CapBay’s business performance has laid the foundation for successful fundraising, the company said.

 In December 2020, CapBay achieved a funding milestone worth 100 million ringgit ($24.7 million) across 500
investment notes on its P2P platform. CapBay has facilitated over 800 million ringgit worth supply chain financing
across 10,000 transactions.

 The company has also expanded investment opportunities for P2P investors on its platform through strategic
partnerships with top institutions.

 CapBay became the first and only fintech company to be part of national telecommunications firm Telekom
Malaysia Bhd’s (TM) vendor financing programme, PERINTIS, in September 2020.

 In November last year, CapBay acquired a 49% stake in Kenanga Capital Islamic Sdn Bhd (KCI) to form a joint
venture to create the country’s first Islamic supply chain finance fintech. KCI, a subsidiary of Kenanga Investment
Bank Bhd, caters to SMEs in the government sector.

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