Skyro, a rapidly growing consumer finance group, has obtained a moneylending licence from Malaysia’s Ministry of Housing and Local Government, allowing it to offer online loans in the country. This marks Skyro’s second venture in Southeast Asia, following its success in the Philippines. The company plans to introduce its first Malaysian product, cash loans, in the coming months.
Founded in 2022, Skyro has already made significant strides in the Philippines, using an AI-powered credit-scoring model to serve customers often overlooked by traditional banks. The company has disbursed over $600 million in loans and expanded its user base to more than 7 million, achieving operating break-even in the first half of 2026.
Skyro’s entry into Malaysia coincides with major regulatory changes in the country’s consumer credit sector, including the Consumer Credit Act 2025 and the establishment of the Consumer Credit Commission. Co-founder and Co-CEO Arsen Liametov stated, “We use advanced AI-based scoring tools to provide convenient and intuitive credit products to people underserved by traditional banks.”
Malaysia, with a population of around 35 million, presents a promising market for digital financial services. Many Malaysians, despite having bank accounts, struggle to secure traditional loans due to limited credit histories. Skyro aims to address this gap by adapting its successful Philippine model to local conditions and regulations.
Co-founder and Co-CEO Nasim Aliev emphasised the company’s mission: “Ambitions shouldn’t have to wait. In Malaysia, we plan to develop credit products that give people a solution to this challenge whilst ensuring full control and transparency over their spending.”
Skyro’s future plans include expanding into other markets, such as Saudi Arabia, and developing a comprehensive ecosystem of financial products.
