Kuala lumpur: Shariah-compliant peer-to-peer (P2P) financing platform microLEAP has made significant strides, having disbursed RM350 million in funding to small and medium enterprises (SMEs) in the first half of this year, while maintaining the lowest default rate among all P2P operators in Malaysia at 0.42 percent.
According to BERNAMA News Agency, the homegrown company is not only focusing on expanding its operations within Malaysia, particularly to the East Coast of Peninsular Malaysia, Sabah, and Sarawak, but is also aiming to enter regional markets in Indonesia and the Philippines. Tunku Danny Nasaifuddin Mudzaffar, the founder and CEO, expressed the company’s vision to build a regional P2P financing ecosystem across Southeast Asia, emphasizing its role in enabling businesses to raise funds directly from the public and making financing accessible for underserved micro and small businesses.
He noted that the trading sector is microLEAP’s largest financing segment, with significant activity from issuers engaged in exporting gloves to markets such as South Korea, Japan, the United States, and Europe. These businesses utilize the platform to finance the purchase of gloves for export.
Addressing the impact of the sales and service tax (SST) expansion, Tunku Danny recognized the challenges it presented to SMEs but remained optimistic that businesses would adapt over time, expecting stabilization within six months.
In the short term, microLEAP is concentrating on enhancing its presence in Malaysia over the next 12 to 18 months, targeting areas like Kelantan in the East Coast and further expanding in Sabah and Sarawak. The company’s ambition is to assist more micro and small enterprises in these regions.
Looking towards 2026, Tunku Danny revealed plans for regional expansion into Indonesia and the Philippines, aligning with the company’s vision for a Southeast Asian P2P financing ecosystem. Currently, microLEAP operates from its headquarters in the Klang Valley and has a presence in Ipoh, Penang, Johor, Sabah, Sarawak, and Kelantan.