Photo Caption: (Names from L-R) Nadhir Ashafiq, Group Co-CEO of TheLorry and Tunku Danny Nasaifuddin Mudzaffar, the Founder & CEO of microLEAP
Kuala Lumpur, 13 April 2022 – Shariah-compliant P2P (Peer-to-Peer) Financing Platform, microLEAP, today announced a strategic and multi-faceted partnership with TheLorry, a leading Malaysian logistics tech platform. This strategic collaboration provides TheLorry with flexible and convenient invoice financing and term financing options through microLEAP’s strong base of local investors seeking Shariah-compliant investment opportunities, as the former looks to fulfil customer orders on behalf of blue-chip companies and local merchants operating via online platforms and local hypermarkets.
The deal has a maximum cap of up to RM 500,000 per Investment Note, over a 3-month period for Invoice Financing and a 12-month period for Term Financing, whereby both options will be Shariah-compliant. Investors can expect to see gross returns of up to 15% annually.
Tunku Danny Nasaifuddin Mudzaffar, the Founder & CEO of microLEAP, said, “We are thrilled to have a leading, homegrown tech company like TheLorry come onto our platform and provide Investors with yet another strong financing Investment opportunity with solid returns. This is very much a win-win situation for all parties involved and we look forward to successfully carrying out this long-term initiative.”
The strategic partnership will also allow TheLorry to serve its merchants more seamlessly, as the country moves into an endemic phase, signalling an opportune time to offer business financing in support of underserved SMEs. “Being a market leader in the logistics industry for 8 years and constantly supporting Small and Medium Enterprises (SMEs), we are more than delighted to establish this partnership as it is in line with our vision of supporting local businesses. As international borders reopen, we hope that this new financing method will ensure smoother, more seamless business operations for our trusted merchants,” said Nadhir Ashafiq, Group Co-CEO of TheLorry.
Moving forward, microLEAP looks to expand its presence through various partnerships with both public and private entities, while offering a win-win scenario for both Investors and Issuers that is also Shariah-compliant through its platform. To date, microLEAP has disbursed over RM20 million of financing to its Issuers, as it continues making its mark in the nation’s P2P financing industry.
For more details on the deal, please visit: https://www.microleapasia.com/funding-list/
