Kuala Lumpur, Malaysia – Skyro has secured a moneylender’s licence in Malaysia, clearing the way for the consumer finance group to start online lending in its second Southeast Asian market after the Philippines.
The Ministry of Housing and Local Government (KPKT) issued the licence to Skyro’s Malaysian entity, the company said on 29 September. Skyro plans to launch its first local product, cash loans, in the coming months.
The move extends an AI-powered credit-scoring model that Skyro already runs in the Philippines, where it targets customers who may be underserved by traditional banks. According to the company, it has disbursed more than USD 600 million in loans since its founding in 2022.
Skyro also reports a user base of more than 7 million and says it reached operating break-even in the first half of 2026. It plans to adapt the business model it uses in the Philippines to the Malaysian market.
The expansion comes as Malaysia’s consumer credit sector undergoes significant regulatory reform. The changes follow the introduction of the Consumer Credit Act 2025 and the establishment of the Consumer Credit Commission.
Arsen Liametov, Co-founder and Co-CEO of Skyro, said, “We use advanced AI-based scoring tools to provide convenient and intuitive credit products to people underserved by traditional banks. Our success in the Philippines gives us confidence in this approach, which we plan to adapt for other markets across Southeast Asia and beyond.”
Malaysia has a population of around 35 million and, according to Skyro, is an important market for digital financial services. Most people have bank accounts, but consumers with limited credit histories or without verified income may find it difficult to obtain traditional bank loans.
To address that gap, Skyro intends to apply the same combination of AI and alternative data it uses in the Philippines to assess creditworthiness in Malaysia. The company says it will adapt the approach to local conditions and regulatory requirements.
Nasim Aliev, Co-founder and Co-CEO of Skyro, said, “Ambitions shouldn’t have to wait. Across Southeast Asia, we see the same pattern: hardworking people are held back not by a lack of effort but by a temporary cash gap standing between them and a real opportunity. In Malaysia, we plan to develop credit products that give people a solution to this challenge while ensuring full control and transparency over their spending.”
Beyond cash loans, Skyro intends to introduce further credit products in Malaysia over time. Separately, the company has announced plans to expand into other markets, including Saudi Arabia, and to build an ecosystem of financial products.
