Credilab's Growth Accelerated by Strategic Investment in Fintech
Credilab's Significant Strategic Investment
VCI Global Limited (NASDAQ: VCIG) is excited to announce that its fintech subsidiary, Credilab Sdn Bhd, has successfully secured a strategic investment of US$1 million from Triple Helix Capital Ltd. This investment marks a significant milestone for Credilab, which is rapidly establishing itself as a leading digital lending platform.
Transforming Financial Inclusion
Credilab is on a mission to enhance financial inclusion by offering same-day loan disbursements to underserved microfinance and small-medium enterprise (SME) segments. Traditionally, these segments have been overlooked by conventional banks, and Credilab aims to fill that gap. With a licensed money lending status from the relevant Malaysian authorities, Credilab employs advanced technology to ensure a smooth lending process - from loan applications to credit scoring, contract execution, and disbursements, while upholding regulatory compliance and ensuring secure payment processing.
The Growth Trajectory of Credilab
Thanks to its innovative and effective lending platform, Credilab has shown remarkable growth in a short time. Recent reports indicate that, in the first half of the year, Credilab achieved US$0.7 million in revenue, reflecting an impressive 116% year-over-year growth. This growth was complemented by a near-zero Non-Performing Loan (NPL) rate, setting Credilab apart as a benchmark in credit technology and responsible lending.
Expansion and Future Opportunities
With the fresh capital from Triple Helix, Credilab is set to expand aggressively. The company plans to broaden its financial product offerings and implement a comprehensive market entry strategy aimed at achieving substantial revenue growth and maximizing long-term value for its stakeholders. As Credilab forges ahead, it is positioning itself to be a key player in the global fintech arena.
Leadership Perspective
Dato’ Victor Hoo, the Group Executive Chairman and CEO of VCI Global, expressed optimism regarding the strategic investment: “This endorsement by Triple Helix confirms the strength of our business model and our noticeable financial performance. We are confident that Credilab is on a path to becoming a vital fintech success story not just in Southeast Asia, but on a broader scale as well.”
About Credilab Sdn Bhd
Credilab is a unique fintech platform that simplifies the digital lending experience. It facilitates online applications, credit scoring, and Know Your Customer (KYC) verification, all while ensuring quick loan disbursements. The platform’s design focuses on providing flexible and convenient financial solutions to those who need it most.
Key Features of Credilab
Some features that set Credilab apart include:
- Instant cash loans requiring minimal documentation
- Accelerated processing times for swift disbursements
- Adaptable repayment options tailored to client needs
VCI Global's Vision
VCI Global is not just a fintech entity; it has diversified its interests across various sectors, including AI and Robotics, Cybersecurity, Renewable Energy, and Capital Market Consultancy. Operating globally, VCI Global is committed to innovation and sustainable growth, striving for excellence in financial operations.
Frequently Asked Questions
What is Credilab?
Credilab is a fintech subsidiary of VCI Global that offers digital lending services, focusing on financial inclusion for underserved markets.
How much investment did Credilab secure?
Credilab secured a strategic investment of US$1 million from Triple Helix Capital Ltd.
What markets does Credilab serve?
Credilab focuses on providing services to microfinance and small-medium enterprises that have been underserved by traditional banks.
What are Credilab's revenue growth figures?
In the first half of the year, Credilab recorded US$0.7 million in revenue, a 116% increase compared to the previous year.
What is VCI Global's broader vision?
VCI Global aims to drive technological innovation and sustainable growth across various industries with a presence in Asia, Europe, and the United States.
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