Dubai's Triple Helix Capital Invests $1M in Malaysian Fintech Credilab
Dubai-based private investment fund Triple Helix Capital Ltd has made a strategic US$1 million investment into Credilab Sdn Bhd, a fast-growing Malaysian digital lending platform and subsidiary of VCI Global Limited. This funding injection from the UAE investor aims to accelerate Credilab's expansion and push towards regional market leadership in the fintech space.
Dubai Fund Backs Malaysian Fintech Innovator
The strategic investment from Triple Helix Capital, a leading private investment fund based in the Dubai International Financial Centre (DIFC) and licensed by the DFSA, underscores cross-border confidence in Malaysia's fintech sector. The US$1 million funding targets Credilab, noted as a fast-scaling digital lending platform operating under VCI Global (NASDAQ: VCIG).
Credilab's Mission: Financial Inclusion in Malaysia
Based in Malaysia, Credilab focuses on promoting financial inclusion by providing same-day loan disbursements. Its target market includes the microfinance and small and medium-sized enterprise (SME) segments often underserved by traditional banks. Operating under a licensed money lending business approved by Malaysia's Ministry of Housing and Local Government, Credilab utilizes technology to streamline the entire lending process, from applications and credit scoring to KYC verification, contract execution, and disbursement, while ensuring regulatory compliance.
Strong Growth and Performance Metrics
Credilab has demonstrated rapid growth and operational excellence, positioning itself as a fintech startup with potential unicorn status. Key performance indicators highlighted include:
A 116% year-over-year revenue increase in the first half of 2024, reaching US$0.7 million.
Maintaining a near-zero Non-Performing Loan (NPL) rate.
A 67% growth in loan book value, reaching US$13.3 million as of June 2024.
Accelerating Growth with UAE Investment
Powered by a scalable lending model designed to minimize credit risk, Credilab is embarking on an aggressive growth phase. The strategic investment from Triple Helix Capital will be used to:
Accelerate platform expansion.
Broaden its suite of financial products.
Execute a market entry strategy aimed at exponential revenue growth.
Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global, commented, “This strategic investment by Triple Helix validates Credilab’s innovative business model, robust financial performance, and exceptional risk management. We believe Credilab is well on its way to becoming a major fintech success story in Southeast Asia and beyond.”
About Triple Helix Capital (UAE)
Based in the DIFC, Dubai, Triple Helix Capital Ltd is a DFSA-licensed investment management company. It specializes in sourcing and managing investments across sectors like digital healthcare, biotech, education, and technology. The firm leverages strong relationships with sovereign wealth funds, financial institutions, and family groups, focusing on acquiring, restructuring, and divesting assets to generate value. Its team possesses deep ties to the GCC and expertise in private equity and venture capital.
About Credilab (Malaysia)
Credilab Sdn Bhd is a proprietary fintech platform based in Malaysia, focused on streamlining digital lending for underserved individuals and SMEs. Key features include instant cash loans, short processing times, and flexible repayment options, all aimed at bridging the credit gap through technology.
Looking Ahead
This strategic investment from a prominent Dubai-based fund marks a significant validation for Credilab. The capital injection is expected to fuel the Malaysian fintech's ambitious growth plans, potentially accelerating its path towards becoming a category-defining leader not just in Southeast Asia, but potentially within the wider global fintech landscape.
Source: VCI Global Limited