Credilab Secures $1M Investment to Expand Digital Lending in Southeast Asia

VCI Global's fintech subsidiary, Credilab, has secured a $1 million strategic investment from Dubai-based Triple Helix Capital to accelerate its expansion in the digital lending sector. Credilab specializes in providing same-day loan disbursements to microfinance and SME segments that are often underserved by traditional banks, operating with regulatory approval in Malaysia. Leveraging advanced technology, Credilab streamlines the lending process, ensuring compliance and security, which has contributed to its rapid growth and strong financial performance, including a 116% year-over-year revenue increase and a near-zero Non-Performing Loan rate in the first half of 2024. The company’s loan book value also saw significant growth, rising by 67% to $13.3 million as of June 2024. With the new funding, Credilab aims to further expand its platform, diversify its financial offerings, and enhance access to capital for underserved markets, positioning itself as a potential leader in the fintech space. This strategic move is expected to bolster Credilab’s revenue growth and long-term value for stakeholders.