CapBay Group, the Malaysian supply chain finance and peer-to-peer (P2P) financing platform, said on October 16, 2026 that its cumulative financing has passed RM6 billion since it began operating in 2016. The milestone comes as Malaysia’s Budget 2027 directs new public funds and tax measures toward P2P and equity crowdfunding platforms.
Key Facts At A Glance
- CapBay Group has recorded more than RM6 billion in cumulative financing since 2016.
- The company has issued 45,000 financing notes to more than 2,700 Malaysian SMEs across 20 industries.
- Its first financing was RM6,000, extended to a sole proprietor.
- CapBay assesses borrowers on live trading data, invoice validity and buyer payment records rather than property collateral.
- It channels capital through the Malaysia Co-Investment Fund (MyCIF) and the NIMP Strategic Co-Investment Fund (CoSIF), both under the Securities Commission Malaysia.
- Budget 2027 allocates RM270 million to attract private capital through P2P and equity crowdfunding platforms.
- From January 1, 2027 to December 31, 2030, P2P financing agreements will carry a fixed RM10 stamp duty.
CapBay Group announced that it has crossed RM6 billion in cumulative financing over its first ten years. Over that period it has issued 45,000 financing notes to more than 2,700 small and medium enterprises (SMEs) in Malaysia, spread across 20 industries.
The company provides working capital through two channels: supply chain finance and a P2P financing platform. It does not rely on property as collateral. Instead, it evaluates real-time trade data, the authenticity of invoices and the payment history of the borrower’s buyers. CapBay said this approach shortens financing approvals from months to days.
Co-founder and Group Chief Executive Officer Ang Xing Xian said the company’s first financing was RM6,000 to a sole proprietor importing laboratory equipment for a Malaysian university. He said the decade’s total represents salaries paid, contracts executed and businesses that kept operating, rather than a figure to celebrate for its size alone.
Manforce Group Berhad, a workforce management company, is among CapBay’s clients. Its Finance Director, Andrew Chin, said faster access to financing helped the company manage liquidity gaps during the COVID-19 pandemic and improve its cash conversion cycle.
Public-Private Channels
CapBay channels working capital through two Securities Commission Malaysia (SC) initiatives: the Malaysia Co-Investment Fund (MyCIF) and the NIMP Strategic Co-Investment Fund (CoSIF). It also supports financing programmes run by SME Corp. Malaysia and works with TERAJU and the Malaysia Digital Economy Corporation (MDEC).
The company said it will deepen these public-private partnerships in its second decade. It also plans to refine its artificial intelligence-based credit assessment to reach businesses in more sectors.
Market And Policy Context
According to the SC Annual Report 2025, alternative financing raised RM5.7 billion for micro, small and medium enterprises and mid-tier companies in 2025, up 39% year on year. P2P financing accounted for RM2.8 billion of that total, compared with RM2.5 billion in 2024.
Under Budget 2027, the government has allocated RM270 million to attract private capital through P2P and equity crowdfunding platforms. P2P financing agreements will also carry a fixed RM10 stamp duty from January 1, 2027 to December 31, 2030.
CapBay said the Budget 2027 measures strengthen the role of P2P platforms. Ang said the support confirms that regulated digital financing is now part of how Malaysia funds SMEs.
Publicly available information on CapBay’s financial performance remains limited. The company has not disclosed a year-by-year breakdown of the RM6 billion, its outstanding financing balance, default rates or investor returns.