The Securities Commission Malaysia this week has announced the first group of award recipients for its Digital Innovation Fund. The Digital Innovation Fund was established to co-fund innovative projects that demonstrate the use of technology to allow new and competitive propositions in the Malaysian capital market. It aims to encourage technology investments by smaller capital market players and the development of industry-wide solutions impacting capital raising and investment activities.
The first recipient is MULA Advisory. This company is a financial fitness instructor who helps Malaysians measure, plan, and manage their finances. It was created by Malacca Securities, a Malaysian company with more than 60 years of experience.
Capsphere is a peer-to-peer asset-based financing platform. Using its online investment platform, the firm matches Malaysian SMEs who need funding with potential investors.
Before business financing was widely available, the majority of Malaysian small businesses were funded by the owner’s immediate family, close friends, and even neighbors. Capsphere said it envisions a shared space for small and medium enterprises and investors.
“Capsphere enables SMEs the opportunity to fulfill their ambitions, alongside investors that want to be contributors toward economic growth while making an impact in a socially rewarding way; beyond seeking financial returns,” Capsphere says on its website.
Capshere said it is the country’s first P2P asset-based financing platform registered with the Securities Commission Malaysia. It ensures that every loan is secured with an asset. The company said this added measure enables them to provide low-interest financing to SMEs and gives the investor community greater confidence to support local businesses.
“Through our unique offering, we take pride in providing accessible financing that enables SMEs from various industries to grow while empowering investors to expand their portfolio with peace of mind,” Capshere said.
Advisonomics is a three-year-old licensed financial planning organization that aims to address problems by combining technology with human engagement.