CapBay (formerly known as Capital Bay), a multi-bank peer-to-peer (P2P) financing platform, is collaborating with TheLorry to launch the Express Financing programme to increase digital financing accessibility for the financially underserved small and medium enterprises (SMEs) within the logistics industry.
The programme’s financing is extended to TheLorry’s lorry driver SME base, and lorry drivers can now apply for collateral-free financing upfront from CapBay. TheLorry is a logistics platform that connects professional drivers with corporate and individual customers through an online marketplace.
Through another partnership with Touch ‘n Go Sdn Bhd, CapBay is also offering lorry drivers Fleetpass through the Express Financing programme. Fleetpass is a post-paid-enabled Touch ‘n Go corporate card with extended credit terms where the toll usage can be paid up to 60 days later.