Kuala Lumpur, 5 August 2021 - Shariah-compliant P2P (peer-to-peer) financing operator microLEAP recently announced its fastest ever fully funded microLEAP+ Investment Note, raising RM 300,000 in just 1 hour and 47 minutes. This comes just weeks after launching its new product, microLEAP+, that aims to serve Small and Medium Enterprises (SMEs) better through its larger Investment Notes ranging from RM 50,000 to RM 500,000 that are also Shariah-compliant.
The launch of microLEAP+ signifies microLEAP’s growth in the P2P financing sector, with great success seen through the RM 3.5 million in Shariah-compliant financing it has managed to raise for micro-enterprises since May 2020. Through microLEAP+, the P2P Operator looks to further expand its offerings, as it evolves to take on much larger Investment Notes.
Currently microLEAP+ offers larger ticket issuances, including short term notes and invoice financing, to companies that require Shariah-compliant working capital needed to run their business. These enterprises would raise the amount they need through microLEAP, followed by short term repayments between just two to six months. Investors who choose to fund these notes are rewarded with a profit of up to18% per annum. This results in a win-win situation for both parties as Issuers are able to raise funds much quicker than through traditional means while Investors may enjoy a shorter payment period as their funds are put to good use.
“We are honoured to take the next step into the SME territory with microLEAP+. It’s an offering that brings us into a whole new world of P2P financing, where we are able to expand our reach to not just micro-businesses, but small to medium sized companies as well. We believe that it is crucial to serve both the micro and SME markets and we are glad to be doing so in a Shariah-compliant manner. I can’t stress enough that these are tough times and we want to help wherever we can. The team has been working hard to ensure we are able to help MSMEs gain access to the funds they need to grow,” commented Tunku Danny Nasaifuddin Mudzaffar, Founder and CEO of microLEAP.
Staying true to its roots, microLEAP is ramping up its efforts to continue serving micro-enterprises through its micro-financing product, allowing smaller businesses to raise anywhere between RM 1,000 to RM 50,000 through the P2P operator. This remains a core focus for microLEAP moving forward as micro-enterprises are a crucial segment that requires a large amount of help to sustain themselves through the pandemic.
“Rest assured that we are not stopping here. Believing in continuous innovation, we are expected to launch Shariah-compliant Car Dealer Financing along with Shariah-compliant Grant Financing in the near future to further widen our reach and help more SMEs gain access to the funds they need in a quick, online and regulated manner,” concluded Tunku Danny.
