“Bank Negara slashed interest rates from 3% in December 2019 to 1.75% by July 2020. This has forced investors to look for better returns than fixed deposits, and with returns of 10%-15% per annum on microLEAP’s platform, we have seen a surge of investors too, ” says microLEAP founder and chief executive officer Tunku Danny Mudzaffar.
DESPITE a tumultuous year for many micro, small and medium enterprises, investor interest and funding enquiries hit an all-time high for many peer-to-peer (P2P) financing operators.
This, says microLEAP founder and chief executive officer Tunku Danny Mudzaffar, makes perfect sense.
