Malaysian investment firms Crewstone International and Mirai Bridge Capital (MBC) have formed a co-investment partnership via the non-bank financing platform Thirty Three Digitec Solutions, with Crewstone contributing an initial commitment of 5 million ringgit (approximately $1.2 million). This investment is intended to enhance Digitec’s private credit platform, which has already facilitated over 130 million ringgit ($32 million) in financing.
Both Crewstone and MBC are licensed private equity management corporations in Malaysia, while Digitec collaborates with more than 30 money-lending partners that are licensed by the Ministry of Housing and Local Government. The details of MBC’s investment and other financial terms remain undisclosed.
Digitec currently supports around 83,000 borrowers and processes approximately 8,000 applications monthly, catering particularly to gig workers, micro-entrepreneurs, and individuals with limited access to conventional credit. Following this investment, Digitec anticipates a 40% increase in its borrower base over the next 12 to 18 months.
The structure of the investment includes personal guarantees from key members of Digitec’s team, along with a corporate guarantee from MBC. Crewstone’s CEO, Keng Fai Wong, emphasized that this partnership merges Crewstone’s capital and growth expertise with MBC’s platform experience. MBC co-founder Tommy Ng noted this deal could pave the way for a more extensive relationship between the firms, potentially leading to future investments.
Moreover, Digitec is part of a broader financing ecosystem that has managed over 500 million ringgit in transactions in the past three to five years.
