Skyro, a digital consumer finance group, has begun offering cash loans in Malaysia, its second Southeast Asian market.
In a statement on Thursday, Skyro said it received a moneylender’s licence from the Ministry of Housing and Local Government in September 2026.
It made the achievement after reaching operating break-even in the Philippines in the first half of 2026. Skyro has operated in the Philippines since 2022 and it has more than 7 million registered users and an active loan portfolio of more than $200 million.
Its first Malaysian product offers new customers cash loans of up to MYR1,000 ($250), with repayment terms of up to four months. The company plans to raise borrowing limits gradually for eligible customers, potentially to MYR10,000.
Applicants must be Malaysian citizens with a valid MyKad and regular income. They apply in the Skyro app, verify their identity, and provide income documents. Skyro says it assesses each application individually, considering income, existing financial commitments, and credit history. Most applicants receive a decision within minutes and approved funds are transferred to their bank accounts.
Arsen Liametov, co-founder and co-CEO of Skyro, said people’s financial needs do not always arise at convenient times. The company wants Malaysians to have another option for short-term financing. He said understanding costs and repayment is as important as access to credit.
The launch comes as Malaysia tightens its response to illegal moneylending, including unlicensed Ah Long lenders and fraudulent loan apps. Skyro says licensed digital cash loans and revolving credit lines can offer a safer and more transparent alternative for people with limited access to bank credit.
Skyro says it uses AI-driven scoring and alternative data, including online purchase history and in-app behaviour, to assess applicants without a formal credit history. Its products are offered through more than 3,000 merchants and about 10,000 retail locations.
Malaysia’s Juris Technologies partners Thai-listed TBN for AI digital lending solutions