Consumer finance company Skyro has received a moneylender’s licence from Malaysia’s Ministry of Housing and Local Government (KPKT), authorising its Malaysian entity to conduct online moneylending, as reported on September 29, 2026. The approval makes Malaysia Skyro’s second Southeast Asian market after the Philippines, and the company enters as Malaysia’s consumer credit sector adjusts to a new regulatory framework.
Key Facts At A Glance
- Skyro’s Malaysian entity has received a moneylender’s licence from the Ministry of Housing and Local Government (KPKT).
- The licence authorises the company to conduct online moneylending in Malaysia.
- Skyro plans to launch cash loans in Malaysia in the coming months.
- Malaysia becomes Skyro’s second Southeast Asian market after the Philippines.
- Skyro reports more than seven million registered users and a credit portfolio exceeding US$200 million since launching in 2022.
- The company says it reached operating break-even in the first half of 2026.
- The entry follows Malaysia’s Consumer Credit Act 2025 and the establishment of the Consumer Credit Commission.
Skyro has obtained a moneylender’s licence in Malaysia, giving the consumer finance group authorisation to conduct online moneylending as it prepares to enter its second Southeast Asian market. The company said its Malaysian entity received the licence from the Ministry of Housing and Local Government (KPKT) and that it plans to launch cash loans in the country in the coming months.
Lending Model And Target Borrowers
In the Philippines, Skyro offers consumer financing using a credit-scoring model that the company says is designed for borrowers who may have limited access to traditional bank credit. In Malaysia, it plans to start with cash loans and assess borrowers with thin credit histories using AI-driven decision-making and alternative data alongside conventional credit indicators.
Skyro says it has more than seven million registered users in the Philippines and a credit portfolio exceeding US$200 million since launching there in 2022. The company also reported reaching operating break-even in the first half of 2026.
Nasim Aliev, co-founder and co-CEO of Skyro, said the company will draw on its Philippine experience while adapting its products to Malaysian borrowers and local regulatory requirements.
Regulatory Backdrop In Malaysia
Skyro enters Malaysia as the country implements a broader consumer credit framework following the Consumer Credit Act 2025 and the establishment of the Consumer Credit Commission. Oversight of consumer lending in the market is tightening as the company prepares its launch.
Data cited by Skyro indicate that Malaysia’s digital banks had approved RM1 billion in financing by the end of 2025, with 34% of it going to unserved or underserved customers.
Publicly available information remains limited. Skyro has not disclosed the launch date for its Malaysian cash-loan product, loan sizes, pricing, the name of its Malaysian entity, or the capital it plans to deploy in the market.