Reviews of P2P Platforms in Malaysia

In my previous post, I compiled the ECF and P2P platforms in Malaysia that are registered with Securities Commission Malaysia (SCM). Below is the list of P2P platforms again for easy reference:

1. Bay Smart Capital Ventures Sdn Bhd
2. B2B Finpal Sdn Bhd
3. Capsphere Services Sdn Bhd
4. Crowd Sense Sdn Bhd
5. Ethis Kapital Sdn Bhd
6. FBM Crowdtech Sdn Bhd
7. MicroLEAP PLT
8. Modalku Ventures Sdn Bhd
9. Moneysave (M) Sdn Bhd
10. Peoplender Sdn Bhd
11. QuicKash Malaysia Sdn Bhd

CapBay

Mobile app: Yes

Fingerprint sign-in: Yes

Auto-invest function: Yes

Documents required: IC, bank details

Risk grading: Yes

Default rate: 0%

Fees: 10%-30% of interest earned

Initial capital: RM10000

CapBay is specialized in the Supply Chain Financing platform. If you are familiar with supply chain or would like to invest in it, this is a good platform. However, their initial capital is the highest among all P2P platforms which is at RM10k. Besides that, if you opt for their auto-invest function, you are given 2 choices as below:

1. CapBay Diversified – in this program, you will be invested across different notes for returns up to 14% p.a.
2. CapBay Select  – in this program, you will be invested in lesser notes which are less risky for returns up to 12% p.a.

B2B Finpal

Mobile app: Yes. Can sign-up via app

Fingerprint sign-in: Yes

Auto-invest function: Yes

Documents required: IC, bank statement, and utility bill. After you have registered successfully, you will need to sign an agreement electronically via Docusign

Risk grading: Yes

Default rate: 2.94%

Fees: 30% of interest collected

Initial capital: RM1000

The app interface is plain and simple but it does its job well. Once your account is activated, you will be included in an email thread where you will be notified of the active and new notes. They will also send you daily updates as announcements via WhatsApp.

Capsphere

Mobile app: N/A

Fingerprint sign-in: N/A

Auto-invest function: N/A

Documents required: IC

Risk grading: N/A

Default rate: Not stated

Fees: 1%-2% of return

Initial capital: RM200

Capsphere is an asset-based P2P platform. The money collected from the investors is used to purchase or refinance assets by the businesses. Therefore, it is generally deemed safer because the asset can be sold to repay the investors in case the business liquidated. There are several 3rd party charges to the investors such as bank charges and transaction fees as stated in their FAQ page.

Cofundr

Mobile app: N/A

Fingerprint sign-in: N/A

Auto-invest function: N/A

Documents required: IC, bank details

Risk grading: N/A

Default rate: Not stated

Fees: 20% for investments less than 12 months; for investments more than 12 months, there will be 2% charge on principle only

Initial capital: RM1000

Cofundr is still very new as of the date of writing. However, do take note that there is a withdrawal processing fee of RM1.

Nusa Kapital

Mobile app: N/A

Fingerprint sign-in: N/A

Auto-invest function: N/A

Documents required: IC

Risk grading: Yes

Default rate: Not stated

Fees: 10% of return

Initial capital: RM500

Nusa Kapital is a shariah-compliant P2P platform. The business listings will state the % for Mudharabah profit sharing. Besides that, it has number based risk rating for reference, 1 is the lowest while 5 is the highest. In one glance, you can easily see the expected returns and tenure as well as they list out all the basic info at the listing page.

Alixco

Mobile app: N/A

Fingerprint sign-in: N/A

Auto-invest function: N/A

Documents required: IC, selfie

Risk grading: Yes

Default rate: Not stated

Fees: 1% of total repayment

Initial capital: RM500

They have risk grading from A (lowest risk) to D (highest risk). The minimum investment and fees can vary between campaigns. Therefore, do check on each listing before investing. Besides that, they also list out the basic info such as the rate and tenure at the listing page like Nusa Kapital.

MicroLEAP

Mobile app: N/A

Fingerprint sign-in: N/A

Auto-invest function: Yes

Documents required: IC, bank statement/online transfer to their Maybank account as below and share the receipt

Risk grading: Yes

Default rate: 0%

Fees: 1-2% of arrangement fees

Initial capital: RM50

The fees are charged on the first monthly payment. Besides that, they offer shariah-compliant notes besides the conventional notes.  Lastly, the most interesting element of investing with MicroLEAP is that you get points for each investment. There are 2 monthly winners and 3 annual winners which will get credit for investment. For more info, you can read about the League of Extraordinary Investors here.

Funding Societies

Mobile app: Yes

Fingerprint sign-in: Yes

Auto-invest function: Yes

Documents required: IC. After you have signed up, they will credit a random number to your bank account. You will need to enter the amount

Risk grading: N/A

Default rate: Overall 1.30%. However, it is 3.27% for Malaysia’s performance

Fees: As below

Business term – 2% p.a. of each repayment
Accounts receivable – 15% of interest repayment
Accounts payable – up to 30% on interest repayment
Dealer – up to 30% on interest repayment

Initial capital: RM1000

Among all the platforms, Funding Societies currently has the highest number of active notes. Besides that, they have 4 main investment types which are:

1. Business Term Financing (MBBT)
2. Accounts Payable Financing (MBAP/MBDF)
3. Accounts Receivable Financing (MBTF/MBIF)
4. Dealer Financing (MBDF)

MoneySave

Mobile app: Yes

Fingerprint sign-in: Yes

Auto-invest function: N/A

Documents required: IC, selfie with IC

Risk grading: Yes

Default rate: Not stated

Fees: Up to 15%

Initial capital: RM5

If you are an issuer, you can take a look at this platform. There are 8 risk reduction items which can give you incentive rate of up to maximum of 8%. This is beneficial for investors too because the more risk reduction items a note has, the safer the note is. You can easily see what risk reduction items a note has in the listing page here.

Fundaztic

Mobile app: Yes

Fingerprint sign-in: N/A

Auto-invest function: Yes

Documents required: IC

Risk grading: N/A

Default rate: 2.73%

Fees: As below

Transaction fee – RM0-RM3
Platform management fee – 1% of monthly repayments

Initial capital: RM50 (RM2000 for auto-invest function)

Fundaztic has this unique feature where your capital will be protected up to RM10,000 (for investments less than RM100k) or up to RM30,000 (for investments more than RM100k). However, you will have to invest at least 100 notes. You can read it here at ‘FAQ for Principal Protect’. Once in a while, Fundaztic will have promo campaigns which will net you reward when you sign up via a referral code.

QuicKash

Mobile app: Yes

Fingerprint sign-in: N/A

Auto-invest function: N/A

Documents required: IC, selfie with IC

Risk grading: Yes

Default rate: 1.3%

Fees: 1.35-1.5% for each repayment

Initial capital: RM100

You can only sign-up via their QuicKash app as per the instruction below.

Conclusion

Platform	Mobile app	Auto-invest	Risk grading	Default rate	Fees	Initial capital
CapBay	Yes	Yes	Yes	0%	10-30% of return	RM10000
B2B Finpal	Yes	Yes	Yes	2.94%	30% of interest collected	RM1000
Capsphere	N/A	N/A	N/A	N/A	1-2% of return	RM200
Cofundr	N/A	N/A	N/A	N/A	20% for investments less than 12 months; for investments more than 12 months, there will be 2% charge on principle only	RM1000
Nusa Kapital	N/A	N/A	Yes	N/A	10% of return	RM500
Alixco	N/A	N/A	Yes	N/A	1% of total repayment	RM500
MicroLEAP	N/A	Yes	Yes	0%	1-2% of arrangement fees	RM50
Funding Societies	Yes	Yes	N/A	1.39%	Business term - 2% p.a. of each repayment Accounts receivable - 15% of interest repayment Accounts payable - up to 30% on interest repayment Dealer - up to 30% on interest repayment	RM1000
MoneySave	Yes	N/A	N/A	N/A	Up to 15% of return	RM5
Fundaztic	Yes	N/A	N/A	2.73%	Transaction fee - RM0-RM3 Platform management fee - 1% of monthly repayments	RM50 (RM2000 for auto-invest function)
QuicKash	Yes	N/A	N/A	1.3%	1.35-1.5% for each repayment	RM100

Based on all the P2P platforms above, Funding Societies has the most listings followed by CapBay and Fundaztic. On the other hand, Nusa Kapital and Alixco are not so active in offering notes.

I invested into B2B Finpal and Funding Societies last year. I invested using the auto-invest functions for both platforms. For each investment, I limit to RM200 and I set the highest interest with the shortest amount of time. For B2B Finpal, I have received my initial deposit together with all the interests. My return is 6.99% in slightly less than 1 year which is invested into 11 different notes.

On the other hand, my annualised performance in Funding Societies is 3.81%. However, if I were to ignore the time frame, the return is 19.7%. But there is 1 note that has defaulted and is in recovery status. If it cannot be recovered, then it will wipe out almost all of my interest earned.

If you do proceed with Funding Societies, please register via the link below or use the referral code. You and I will get free RM30 for investment once you investment at least RM1000 via Funding Societies.

http://promo.fundingsocieties.com.my/referral-program/?r=jz8mxshj

Referral code: jz8mxshj

Lastly, I would like to warn everyone that P2P is a risky investment. If the business defaults, you can lose all your investment capital. Even if the P2P platform suggested a note as low risk, it also has a risk to default. Besides that, do take note of the macroeconomic as well. Businesses bloom when economic is good and the chances of them paying back the loans via P2P is higher than when there is a recession. Adjust your portfolio ratio into P2P platforms accordingly based on your risk appetite and overall economy outlook.