Skyro is taking its digital lending business beyond the Philippines, securing regulatory approval to offer online moneylending in Malaysia as it targets consumers with limited access to traditional credit.
The consumer finance fintech said it received approval from Malaysia’s Ministry of Housing and Local Government, making the country its second Southeast Asian market. It plans to start with cash loans, using AI-driven decision-making and alternative data alongside conventional credit indicators to assess borrowers with thin credit histories.
The move builds on rapid growth in the Philippines, where Skyro says it has more than seven million registered users and a credit portfolio exceeding $200 million since launching in 2022. The company also reached operational break-even in the first half of 2026.
“Our experience in the Philippines has shown us how technology and alternative data can help make credit assessment more accessible while still lending responsibly,” co-founder and co-CEO Arsen Liametov said.
Malaysia offers a potentially sizable market, but Skyro is entering as oversight of consumer lending tightens. The Consumer Credit Act 2025 took effect in March 2026, creating the Consumer Credit Commission and establishing a broader framework for consumer protection and responsible lending.
Demand for digital credit is also emerging among customers underserved by conventional lenders. Data cited by Skyro show Malaysia’s digital banks had approved RM1 billion in financing by the end of 2025, with 34% going to unserved or underserved customers.
Co-founder and co-CEO Nasim Aliev said Skyro will draw on its Philippine experience while adapting its products to Malaysian borrowers and regulatory requirements.
The expansion marks a shift from a Philippines-focused growth story toward a broader regional lending strategy—one that will test whether Skyro’s data-driven model can travel across markets with different consumers, credit systems and rules.
