In a world where entrepreneurship has the potential to create not only financial success but also significant social impact, Endeavor’s recent announcement highlights three innovative Malaysian entrepreneurs. The Co-Founders of CapBay, Ang Xing Xian, Darrel Ang, and Edwin Tan, have earned a well-deserved spot among the 15 entrepreneurs chosen during the 40th Virtual International Selection Panel (vISP) on September 20 and 21, 2023.
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Endeavor’s purpose is to uncover and support high-impact entrepreneurs around the world, and their selection process is rigorous. These entrepreneurs must show the ability to use Endeavor’s resources and guidance to generate significant wealth and job opportunities while also reinvesting in their local ecosystems to develop the next generation of entrepreneurs. Endeavour Entrepreneurs has had a significant impact, creating over four million jobs and generating approximately US$50 billion in combined revenue from active portfolio companies by 2022.
CapBay: From Malaysia to the world.
CapBay is a platform that connects investors and banks with small and medium-sized enterprises (SMEs) in need of funding. What started as a common desire to help Malaysia thrive has evolved into an award-winning Multi-Bank Supply Chain Finance and Peer-to-Peer (P2P) Financing platform. By providing innovative finance alternatives, CapBay assists SMEs in freeing blocked cashflow inside the supply chain.
CapBay’s proprietary credit-scoring system is one of its defining qualities, as it offers businesses with the essential capital to expand while providing banks and investors with access to high-quality financing alternatives. Since its debut in 2016, the company has successfully funded more than US$550 million, leaving an indelible mark on the Malaysian corporate environment.
Drew McElroy, Co-Founder and Chairman of Transfix, praised CapBay’s founders for their dedication to financial success and social impact.
“CapBay embodies the essence of responsible entrepreneurship, where financial
prosperity aligns harmoniously with creating real, lasting value—a philosophy that resonates deeply with the Endeavor community’s ethos of fostering impactful and sustainable entrepreneurship,” McElroy said.
CapBay’s journey from its Malaysian roots to being an internationally recognized platform has been nothing short of inspirational. Darrel Ang, Co-Founder of CapBay and Endeavour Entrepreneur emphasized the importance of putting their firm to rigorous evaluation and learning from industry experts around the world.
“The ISP was a real eye-opener for us that will significantly influence our business operations moving forward. It’s a rare and unique opportunity to subject your business to rigorous scrutiny and gain valuable insights from industry trailblazers across the globe,” Ang said.
How CapBay will benefit from Endeavor.
The inclusion of CapBay in Endeavor’s elite network provides exclusive access to comprehensive, strategic support services. They will benefit from introductions to global business mentors and investors who will assist them in rapidly and efficiently scaling their firm. Endeavor Malaysia is happy to support 24 companies that have completed the ISP selection process with the help of over 70 mentors.
The vISP panelists, including renowned entrepreneurs like Niall Horgan, Mateo Marietti, Brynne McNulty Rojas, Julian Torres, Jerónimo Uribe, Henri Asseily, Ruby Gadelrab Tudor, Allison Light, Enrique Linares, Drew McElroy, Andy Tsao, and Bruno Wauters, recognized the potential of CapBay and its founders to make a lasting impact on the world of finance and entrepreneurship.
As CapBay continues its journey under Endeavor’s guidance, there is no doubt that these innovative entrepreneurs will continue to redefine the landscape of responsible entrepreneurship, demonstrating that financial success and significant impact can coexist. Their success story is not just a monument to their hard work, but also an encouragement to aspiring entrepreneurs around the world, representing the Endeavor community’s ideal of encouraging impactful and sustainable entrepreneurship.
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Cover image sourced from Endeavor Malaysia.