Fintech platform Bay Commerce (Thailand) (CapBay Thailand) has signed a memorandum of understanding (MOU) with the Office of Small and Medium Enterprises Promotion (OSMEP) to enhance access to alternative financing solutions for small and medium-sized enterprises (SMEs) in Thailand.
This partnership reinforces CapBay’s commitment to driving SME growth through fintech- powered supply chain financing and embedded finance solutions, CapBay said in a statement on Tuesday.
This collaboration is part of OSMEP’s SME Privilege program, launched in 2019, which provides financial and business development support to Thai SMEs.
Through this partnership, CapBay will leverage its fintech expertise to offer SMEs more accessible, flexible, and cost-effective financing options, empowering them to improve cash flow, reduce financial burdens, and scale their businesses effectively.
Mohd Mokhtar Mohd Shariff, Chairman of CapBay, highlighted the impact of this collaboration, stating that CapBay has facilitated over $900 million in SME financing, supporting more than 2,000 businesses.
According to him, this partnership with OSMEP marks a significant step in our regional expansion, allowing them to provide innovative financing solutions tailored to SME needs.
“By leveraging fintech, we can unlock new economic opportunities, enhance regional trade, and empower SMEs to thrive in a competitive global market,
“With our expansion into Thailand, we are launching an initial funding pool of THB 2 billion ($59.24 million) — just the beginning of our long-term commitment to empowering Thai SMEs,” he added.
Panita Shinawatra, Ph.D., Deputy Director and Acting Director of OSMEP, commented that this partnership with CapBay Thailand enhances the firm’s SME Privilege program by offering financial solutions that improve liquidity and reduce borrowing costs for Thai entrepreneurs.
“Through this initiative, SMEs will gain access to affordable financing, expert credit advisory services, and business development opportunities,
“We are committed to working with CapBay to expand financial accessibility and promote sustainable SME growth in Thailand,” she added.
It is noted that CapBay’s ecosystem integrates embedded finance, alternative data, and digital lending to provide seamless, flexible, and tech-driven financing solutions beyond traditional banking models.
By leveraging artificial intelligence (AI)-powered credit decisioning and data-driven risk assessment, the firm ensures that SMEs can access working capital without excessive collateral requirements or rigid lending criteria.
The firm also sees immense opportunities in intra-ASEAN trade, particularly in strengthening cross-border trade flows across the region, including between Thailand and Malaysia.
Through its regional network, it aims to bridge liquidity gaps for exporters, support seamless trade across borders, and help SMEs scale in international markets.
“Through this collaboration with OSMEP, we aim to offer valuable financial products and services tailored to SME needs while actively engaging in data exchange to refine service processes and support key initiatives,
“This partnership is designed to empower SMEs by reducing financial burdens and facilitating access to capital, allowing them to scale and thrive in an increasingly competitive market,” said Thawee Poonlapmongkol, Country Head of CapBay Thailand.
As part of this initiative, CapBay’s executives and industry experts will offer mentorship, act as keynote speakers, and provide financial advisory services to entrepreneurs.
The primary focus is to equip SMEs with the necessary funding resources to drive business growth and expansion.
Thus, entrepreneurs can seamlessly access these benefits through the SME CONNEXT platform by OSMEP, ensuring a smoother and more efficient financial support system for growing businesses.
Jasmine Lau, Director of CapBay, emphasized that this MoU is part of a broader regional expansion strategy.
“CapBay has already established a presence in Singapore and China, and this collaboration with OSMEP is just one of the many initiatives driving our international growth,” she said.
According to her, cross-border transactions currently contribute 10 percent to the group’s revenue, and the firm’s ambition is to increase this to 30 percent in the coming years.
“This marks an important milestone in expanding CapBay’s footprint beyond Malaysia and solidifying our role as a key player in regional SME financing,” she added.
This partnership with OSMEP represents an exciting opportunity to combine fintech expertise with OSMEP’s vision—unlocking new opportunities for Thai SMEs through smarter, faster, and more inclusive financing solutions, said the statement.
CapBay also said it looks forward to shaping the future of SME finance and supporting Thailand’s SME ecosystem in the years to come.