Malaysian investment firms Crewstone International and Mirai Bridge Capital (MBC) have entered into a co-investment deal through non-bank financing platform Thirty Three Digitec Solutions, with Crewstone making an initial 5 million ringgit ($1.2 million) commitment.
The investment is aimed at scaling Digitec’s private credit platform, which has facilitated more than 130 million ringgit ($32 million) in financing, the companies said in a statement.
Crewstone and MBC are licensed private equity management corporations in Malaysia, while Digitec works with a network of more than 30 money-lending partners licensed by the country’s Ministry of Housing and Local Government.
The size of MBC’s investment and other financial terms were not disclosed.
Digitec supports about 83,000 borrowers and processes around 8,000 applications a month, with customers including gig workers, micro-entrepreneurs and borrowers with limited conventional credit histories.
The company expects its borrower base to grow by about 40% over the next 12 to 18 months following the investment.
The deal adds to Crewstone’s private credit investments in financial services companies, where it has deployed more than 30 million ringgit in previous transactions, per the announcement.
The investment structure includes personal guarantees from key members of Digitec’s operating team and a corporate guarantee from MBC, according to the statement.
Crewstone Chief Executive Keng Fai Wong said the partnership would combine the firm’s capital and growth capabilities with MBC’s experience with the platform.
“This partnership reflects Crewstone’s belief that in a market that is already competitive and becoming more so, the strongest outcomes will come from firms that know when to join forces and scale with intent,” Wong said.
MBC co-founder Tommy Ng said the transaction could be the start of a broader relationship between the two investment firms, including potential additional investments.
“Crewstone’s strength in capital formation, structuring, and growth strategy makes them a strong partner for this next phase,” Ng said.
Digitec is part of a wider financing ecosystem that has processed more than 500 million ringgit in financing transactions over the past three to five years, according to the statement.
