Fingular Gets US$20 Million From Silverstreak to Grow Malaysian Consumer and SME Lending
Kuala Lumpur-based fintech group Fingular has secured a US$20 million credit facility from Singapore private credit firm Silverstreak, and all of it will go into its Malaysian lending business. The money will be used to grow loans to near-prime consumers and small businesses, and it lifts the funding behind Fingular’s Malaysian lending book to more than US$50 million.
Key facts
- The deal: Silverstreak, which provides long-term private credit to non-bank lenders in emerging Asia, is extending a US$20 million facility to Fingular, announced on 29 October 2026.
- Where it goes: The whole facility will be deployed in Malaysia, taking total funding for Fingular’s Malaysian lending to more than US$50 million.
- What Fingular offers: Conventional and Shariah-compliant consumer loans, micro-SME financing with terms of up to 14 months, and buy now, pay later (BNPL) through its AhaPay platform, which is used by more than 2,000 merchants.
- Scale: Its Malaysian financial platform has more than 2.6 million registered users.
- Balance sheet: Fingular says its paid-up capital has risen fivefold since the start of 2026 to US$37 million, and its capital adequacy ratio is above 25%.
Who Fingular lends to
Fingular was founded in October 2021 and is headquartered in Kuala Lumpur. It focuses on borrowers that banks often find hard to serve: near-prime customers, meaning people with some credit history but not the strong records that win the best bank rates, and very small businesses that need short-term working capital.
Alongside cash loans, its AhaPay platform lets shoppers split purchases at partner merchants through BNPL, and also offers merchant financing and QR-linked payment tools. That mix puts Fingular in the same space as the instalment and pay-later features now built into many Malaysian shopping and e-wallet apps.
The company says it has been profitable every quarter since the fourth quarter of 2025. General manager Konstantin Barabanov described Malaysia as Fingular’s priority market and its strongest opportunity for growth.
How the funding works
This is debt, not equity. A credit facility is a loan line that Fingular can draw on to fund the loans it makes to customers, and repay over time. For non-bank lenders, which cannot take deposits like a bank, lines like this are the main fuel for growth.
Silverstreak will track how the loans perform through its own analytics platform, SilverstreakIQ. Its chief investment officer, Rajarajan Mohan, said the deal fits its strategy of backing technology-led lenders that widen access to finance in emerging Asia. Fingular’s other funders include institutional lenders from Japan, the European Union and Singapore.
What it means for Malaysians
- Consumers: More money behind near-prime lending usually means more loan and BNPL offers for people who struggle to get bank credit. That can help with cash flow, but borrowers should compare the total cost and check that repayments fit their budget before signing up.
- Merchants and micro-SMEs: Small sellers can get short-term financing of up to 14 months, and retailers on AhaPay can offer instalments at checkout, which can lift sales of bigger-ticket items.
- Banks and regulators: The deal shows foreign private credit is willing to fund Malaysian non-bank lenders. It also arrives as Malaysia brings BNPL and other non-bank credit under the Consumer Credit Act 2025, with a new Consumer Credit Commission set up to oversee providers that Bank Negara Malaysia (BNM), the central bank, does not supervise directly.
For investors, the strong capital ratio and the fivefold rise in paid-up capital are meant to show that Fingular can absorb losses if some borrowers fall behind, a key worry with near-prime lending.
What to watch
- How quickly Fingular draws down the facility, and whether loan growth comes mainly from consumers, micro-SMEs or AhaPay BNPL.
- Conduct rules from the Consumer Credit Commission, including affordability checks and fee transparency for BNPL and non-bank lenders.
- Whether more regional private credit funds follow Silverstreak into Malaysian digital lending.
Read more on FinDeskAsia: Malaysia’s e-wallet war and payment gateways in Malaysia.
Sources: DealStreetAsia (October 2026); Alternative Credit Investor (October 2026); The Edge Malaysia (August 2025).
