SC appointed six parties to run peer-to-peer (P2P) financing platforms

Event: SC introduced six P2P Operators
Date: 6 November 2016

 

MALAYSIA became the first country in Southeast Asia to regulate P2P financing, after the Securities Commission Malaysia (SC) has introduced six registered peer-to-peer (P2P) financing platform operators in Malaysia.

The six registered P2P operators are B2B FinPAL, Ethis Kapital, FundedByMe Malaysia, ManagedPay Services, Modalku Ventures and Peoplender. These companies are expected to be operational in 2017.

The SC said that the plan to introduce the six P2P operators is to give more funding avenues for enterpreneurs and small and medium enterprises (SME), and to help narrow the financing gap in the SME sector.