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 product as well as an alternative investment product at the same time.
A proudly Malaysian fintech platform, microLEAP focuses on the micro-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.
microLEAP Traction + Current-Status as at 20th August :
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 (IIP) 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, IIP, etc) - Regulated by the Securities Commission Malaysia
*B40: Bottom 40% Income Group
Money will be spent on
Pre Series A: USD X, XXX, XXX (RM XX-XX, XXX, XXX) (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
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)