Gobi Partners, through its Gobi Dana Impak Ventures (GDIV), has made a strategic investment in Malaysian fintech firm DCAP Holdings Sdn Bhd (DCAP), per its announcement on Tuesday.
Financial terms of the deal remain undisclosed.
Founded in 2020 by Sonia Ng and Wilson Kok, DCAP provides lending-as-a-service (LaaS) that allows traditional financiers to embrace digital transformation, streamline processes, enhance customer reach, and offer more accessible and efficient services to the underbanked.
DCAP leverages AI, machine learning, data analytics, and automation to bridge gaps in financial accessibility.
The company reports that 92% of its customers come from the low-income bracket, with 55% residing outside the urban Klang Valley.
DCAP collaborates with banks, credit companies, motorcycle dealers, and cooperatives to offer lending options, including a green financing initiative for electric two-wheelers introduced in 2022.
“We aim to enter new verticals, including affordable housing and other consumer financing products, to further advance financial inclusion across the region,” stated Sonia Ng, co-founder and CEO of DCAP.
This investment aligns with Khazanah’s Dana Impak initiative, which aims to empower Malaysian businesses of all sizes and stages, from startups to large companies, to improve community livelihoods.
Gobi Dana Impak Ventures (GDIV) operates as part of the Future Malaysia Programme, launched on March 16, 2023. This initiative falls under Khazanah Nasional Berhad’s Dana Impak mandate. The programme aims to strengthen Malaysia’s businesses of all sizes and across different life cycles, including startups, small to mid-tier, and large companies, with the objective of improving communities’ livelihoods.
GDIV has invested in several Malaysian startups. Early this month, it invested in JAZRO Robotic Academy, a robotic edtech, and backed the pre-Series A round for Malaysian agritech startup BoomGrow in Oct 2023.
