Malaysia: Areca Capital is bullish on fintech startups
Summary
Areca Capital Sdn Bhd is increasing its investment in digital startups to support the expansion of buy-now-pay-later (BNPL) financing in Malaysia. MobyPay founder and CEO Rian Philip said the company aims to increase its installment plans to 18 months, depending on the market behavior towards BNPL. He further revealed that the company is negotiating with several other payment gateways while onboarding some online stores directly. Areca Capital boasts of an RM2.7bil asset under management (AUM) and has set up a specific fund to give its clients exposure to the companies involved in digitalisation as investors’ appetite for the technology-related industry has picked up, Wong revealed. “Eventually, we would also be involved in MobyPay’s operation and there could be more rounds of fundraising required to grow the business.