Summary:
$1 million strategic investment from Dubai-based Triple Helix Capital
116% year-over-year revenue growth to $0.7 million in H1 2024
Near-zero Non-Performing Loan rate indicates strong risk management
67% growth in loan book value to $13.3 million as of June 2024
Focus on financial inclusion for underserved microfinance and SME segments
VCI Global’s Fintech Triumph: Credilab's $1 Million Boost from Dubai
VCI Global's fintech arm Credilab has successfully secured a $1 million strategic investment from Triple Helix Capital, based in Dubai. This digital lending platform is making waves in Malaysia, focusing on providing same-day loans to underserved sectors including microfinance and SMEs.
Impressive Growth Metrics
The company's performance has been nothing short of remarkable:
- Revenue: $0.7 million in H1 2024, marking a 116% year-over-year growth.
- Non-Performing Loan (NPL) Rate: Nearly zero, showcasing effective risk management.
- Loan Book Value: $13.3 million as of June 2024, reflecting a 67% increase.
Streamlined Lending Process
Credilab's platform streamlines the lending journey, ensuring regulatory compliance while enhancing customer experience. The recent investment will facilitate:
- Expansion of the platform
- Broader financial product offerings
- Market entry strategies
Credilab is on a mission to establish itself as a category-defining leader in the global fintech arena, leveraging innovative technology to enhance financial inclusion.
Future Outlook
With the backing of Triple Helix, Credilab is poised for aggressive growth, aiming to unlock further capital and broaden its market reach. This strategic investment underscores the potential of Credilab to become a significant player in the fintech landscape of Southeast Asia and beyond.
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