Malaysia sees strong growth in P2P lending
Funding raised via peer-to-peer finance in Malaysia grew to RM1.58bn (£291m) in 2022, up from RM1.14bn in 2021, according to the country’s Securities Commission (SC).
In its annual report for 2022, the regulator said the total number of campaigns increased by 71 per cent to 24,455, up from 14,301 in 2021. At the end of 2022, the total number of issuers stood at 6,913.
Read more: South-east Asia sees huge growth in fintech companies
“Fundraising was successfully carried out via 24,455 campaigns,” said the report. “The majority of issuers in 2022 were based in Selangor and Kuala Lumpur, at 38 per cent and 16 per cent respectively, while technology-focused issuers formed two per cent of total issuers.
“Campaign sizes in 2022 continued to be smaller fundraising amounts, with 70 per cent of raising RM50,000 and below.”
Read more: Shojin reports 35pc increase in Asian investments
The wholesale and retail trade sector, including motor vehicle and motorcycle repairs, continued to receive the most funds in 2022, worth RM927.72m.
Total funds raised since the inception of P2P financing stood at RM3.87bn via 54,791 campaigns, with nine per cent via Shariah-compliant campaigns, the report said.
Read more: Islamic fintech poised for growth