CapitalBay to Launch P2P Financing Platform that Provides Supply Chain Financing to Businesses
Last update: 17/05/2019
KUALA LUMPUR, May 17 (Bernama) -- CapitalBay, an award-winning Malaysian multi-bank supply chain finance platform has received the approval from the Securities Commission Malaysia (SC) to operate a peer-to-peer (P2P) financing platform. The registration licence was presented today in a ceremony hosted by the Chairman of SC, YBhg Datuk Syed Zaid Albar and attended by the Minister of Finance, YB Tuan Lim Guan Eng.
Established in 2016, CapitalBay has been working with multiple banks in Southeast Asia by enabling digital supply chain financing for their clients through CapitalBay’s platform. With the P2P approval, retail investors are now able to access the platform, allowing them to participate in high-quality financing deals that were previously only available to banks and institutional funders. Through this initiative, retail investors are able to invest alongside banks. This is in line with Prime Minister Tun Dr Mahathir Mohamad’s vision of “shared prosperity” where the public can enjoy equitable growth.