Photo - microLEAP


Islamic & Conventional Peer-to-Peer (P2P) Financing Platform

Market: Services, Financial services
Stage of the project: Operating business

Date of last change: 25.11.2021
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P2P (Peer-to-Peer) Financing is an alternative financing tool that allows Issuers (borrowers) to obtain financing from Investors (lenders), without having to go through a financial institution. Therefore, it is both an alternative financing, as well as an alternative investment product, at the same.

A proudly Malaysian fintech platform, microLEAP focuses on the Micro-Small-Medium-Enterprise (MSME) sectors, as well as being the first Securities Commission Malaysia (SC) licensed Recognised Market Operator (RMO) that offers both Islamic and Conventional financing on the same platform.

Current Status

microLEAP Traction + Current-Status as at 25th November :

Registered Users: 7,409 (25% Month-on-Month (MoM) Growth)
P2P Investors: 1,422 (22% MoM Growth)

Funding Disbursed:
P2P Financing Disbursed
MYR 7,036,500 (USD 1,759,125)
Over RM 6.9Mil Of P2P Islamic Financing Disbursed

SaaS Funds Disbursed
MYR 2,786,000 (USD 696,500)

Total Funding Disbursed:
MYR 9,822,500 (USD 2,455, 625) (43% MoM Growth)

Default Rate: 0%

Key Partnerships:
My Co-Investment Fund (MyCIF) Programme
The Government will invest in ratio of 1:4 in every Investment Note

Government Agencies
Malaysia Technology Development Corporation (MTDC)
P2P Financing partner - allocating an initial RM2mil to fund up to 30% of Islamic Investment Notes under this exclusive partnership and channel RM5mil for COVID-19 Relief Fund initiative

SME Corporation Malaysia (SME Corp)
P2P Financing partner - Will disburse RM10mil Islamic funds to finance their SME Corp Members, under their Digital Financial Initiative (DFI) Scheme Initiative.

Development Bank
Will disburse RM5mil Islamic funds through our platform to finance the Agri-Tech Farming Sector. Will also be allocating an initial RM1mil to fund up to 30% of Islamic Investment Notes within their Investment mandate.

Problem or Opportunity

According to the Securities Commission Malaysia (SC), there's a RM80 billion MSME Funding Gap in Malaysia:

(i) Lack of access:
- Banks' credit criteria are too stringent
- Outreach to rural areas difficult

(ii) Cost vs Revenue per loan/financing structure:
- Small loans are too expensive for Banks
- Banks target larger, more profitable loans

Solution (product or service)

microLEAP aims to help plug that MSME Funding Gap:

(i) Low Customer Acquisition Costs (CAC):
- Focus on technology - application, KYC, payments, drawdown are all performed online.

(ii) Fewer Budget Constraints:
- Due to our relatively lower costs, we can have a wider reach, as well as being able to scale up quickly.

(iii) Target the underserved
- Increase Financial Inclusion by giving access to credit, as well as microinsurance at no extra costs to microLEAP's Issuers/Borrowers, for microenterprises / MSMEs

(iv) Malaysia ripe for Digital Financial Services:
- Smartphone Penetration
2017 vs 2018
75.9% 78%
- Internet Penetration
2017 vs 2018
76.9% 87.4%

WeAreSocial, Hootsuite (2019)
Malaysian Communications & Multimedia Commission (MCMC), 2018


Unique Features why microLEAP ticks all the boxes (amongst all our current P2P Players/Platforms):

Involved in all things Islamic and microfinance
Moving towards Islamic SME Financing with microLEAP+
Online video training on basic debt management & book-keeping, as well as our mitigation measure of providing Personal Accident (PA) Insurance, for all microLEAP Issuers/Borrowers, at zero costs to both our respective Issuers (MSMEs) and P2P Investors.

In terms of the Financing Landscape as a whole:
(microLEAP vs Banks vs Licensed Money Lenders vs Microfinance Institutions)

We're the Best-in-Class in terms of:
- Being a fully-online/digital end-to-end Islamic & Conventional Financing Solution
- Our Ease of Access + Credit Criteria Evaluation (both Traditional, coupled with our Alternative Credit Scoring Mechanisms such as Psychometric Testing, all via online means) makes us a proper & viable Financing, and Investment, option/tool.
- Speed/Process Time is much shorter (average beginning-to-end process time is usually two weeks) as compared to Banks, Licensed Money Lenders, as well as Microfinance Institutions (1-3 months on average).

Advantages or differentiators

microLEAP Features:
- Microenterprise / B40* focused: RM1,000 to RM50,000 Islamic & Conventional P2P Financing
- Minimum P2P investment of RM50 only with
returns of 12-18% pa

New microLEAP+ Islamic Product Offerings:
microLEAP+ was launched microLEAP+ in June 2021 where we will look to finance larger amounts including -
- Islamic P2P financing for SMEs / tech companies, up to RM500,000 per Investment Note, via our key partnership with the Malaysian Technology Development Corporation (MTDC), etc
- Islamic (Collateralised) Car Dealer P2P (ICD) financing up to RM300,000 per Investment Note
- Islamic Invoice P2P Financing (IIF) up to RM500,000 per Investment Note
- Islamic Grant Financing (IGF): Investment Note size: RM20k - 300k. Short-term bridge financing (1 - 3 months) secured by Government grants

Safety of Investments
- Funds held in Trust Accounts
- All Issuers (borrowers) have a Guarantor
- Issuers covered by Key Person PA Insurance - payout to P2P Investors
- More encompassing/strict credit-risk criteria - which includes psychometric testing
- All microLEAP Issuers must pass their online video accounting training before receiving their Financing
- Secured Shariah-Compliant/Islamic Financing Product Offerings (ICD, IIF, etc)
- Every IIF (Islamic Invoice Financing) and IGF (Islamic Grant Financing) Issuer/Shariah-Compliant Investment Note needs to set up a jointly-controlled Secondary Business (Current) Account so that microLEAP Management can sight the Funds being paid + ensure the full-principal and final month's payment is repaid back to our Trustees to then be transferred back to the respective Investors.
- Regulated by the Securities Commission Malaysia

*B40: Bottom 40% Income Group

Money will be spent on

Pre Series A:
(Half to Set-up and Regulatory Costs, with the balance to A&P and Software Enhancement)

Immediate Requirements:
- Look for more strategic corporate and institutional partners to build a track record in Malaysia.
- Start looking for strategic partners to grow into Indonesia

Team or Management

Incubation/Acceleration programs accomplishment

Top 11 Teams in 1337 Ventures Alpha Startups: Fintech Edition (2018)
Top 18 Teams in UNCDF's Financial Innovation Lab (FinLab) B40 Challenge (2019)
Top 10 Startups for Cradle's Coach and Grow (CGP) Investment Readiness Programme (2020/2021)
Top 3 Startups for Cradle's Coach and Grow (CGP) CGP5 Cohort (2020/2021)

Won the competition and other awards

Cradle's CGP Industry Recognition Award for Fintech (2021)
Unicorn Pitches Startup Battles - Malaysia - Winner (2021)


Photo 1 - Islamic & Conventional Peer-to-Peer (P2P) Financing Platform

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