Orpheus Capital Unleashes GajiNow Financing to Better Help Business Individuals
KUALA LUMPUR, SEPTEMBER 27, 2021 – Orpheus Capital Sdn Bhd (“Orpheus”), a Shariah based fully digital financial technology company, and Huawei Technologies (Malaysia) Sdn Bhd (“Huawei Malaysia”) joined hands earlier this year to develop a fintech digital platform that provides businesses, especially small and medium enterprises (SMEs), with affordable, fast, secure, and safe financing.
Pursuant to the MOU signed between Orpheus and Huawei Malaysia in June 2021, Orpheus has developed a new and upgraded version of their proprietary digital platform that leverages on Huawei’s technological expertise and knowledge. On 20th September 2021, this joint collaboration rolled out Orpheus’ latest financing product: GajiNow Financing which has been made available to salaried individuals in Malaysia that have been impacted by COVID-19.
GajiNow Financing is a short-term Shariah-compliant financing that was created to ease the burden of those who have been impacted by COVID-19 and the intention of the product is to prevent individuals from turning to unlicensed money lenders and loan sharks. Orpheus ensures that GajiNow Financing is affordable to all individuals with a minimum salary of RM1,200.
Mr. Hamudi A Khalid, Co-founder of Orpheus commented that the firm empathized with businesses and individuals who have been negatively impacted by the effects of this pandemic, knowing that there are many out there who had to find other means just to sustain their expenses for the month even after receiving their salaries. He also expressed his strong support for the partnership, noting that Orpheus is honored to be collaborating with Huawei Malaysia and that together they can aim higher in assisting SMEs and salaried individuals in Malaysia to have a better standard of living.
“At Orpheus, it has always been our goal to further contribute towards the growth of the nation by ensuring that SMEs and salaried individuals have quick access to cash flow financing at reasonable costs. GajiNow Financing is one of the many endeavors we are undertaking to serve as a catalyst in promoting the participation and success of SMEs and individuals in our current economic climate. We completely understand that traditional financing processes can be tedious, time consuming and costly. With Huawei’s technological expertise and support, we are able to provide a fully digital financing platform which shortens the application processes and approval to under 5 minutes, making financing more convenient than ever before,” said Mr. Hamudi.
“The developmental impact of our products and services are an integral part of our DNA. With critical technology and platform architecture support from Huawei Malaysia, it will definitely strengthen our capabilities in assisting the society and community in Malaysia, particularly the local SMEs and salaried individuals. We want them to have access to affordable, fast, secure and safe financing. We hope to be able to scale up our financing to salaried individuals as well as the SMEs, which in turn will pave the way for the creation of more jobs as well as improvements in the cash flows of the unbankable, underserved and unserved smaller players across the value chain. Ultimately, we want to improve the balance sheet of our borrowers and thus impact their lives positively,” Mr. Hamudi said.
Mr. Michael Yuan, CEO of Huawei Malaysia, conveyed his appreciation and support for one of Huawei Malaysia’s latest counterparts and their initiative in the financial technology space vertical. “We are very proud to partner with Orpheus, one of the dynamic digital Shariah-compliant fintech companies that we have come across. Huawei is delighted to provide the critical and necessary technology support that Orpheus requires, while at the same time, assisting them in utilizing the latest technologies to enhance their product suites including the introduction of best practices in several key areas such as automatic data gathering and capturing, fraud mitigation, Artificial Intelligence and Machine Learning, to name a few”
“Furthermore, we would like to congratulate Orpheus for the launch of GajiNow Financing, and we believe that Huawei’s services, especially our cloud services, will assist Orpheus in providing better digital financing experiences for salaried individuals who are in dire need of financial aid. We stand ready to extend our support to Orpheus in adopting other related
technologies with best practices as well as technical support when needed. We believe that this alternative financing offered by Orpheus will strengthen its capacity in assisting individuals and local SMEs, particularly those out of town and in rural areas. We at Huawei believe that technology enables access to finance and that having access to finance changes lives. This strong partnership between Orpheus and Huawei provides an exciting opportunity for us to further support the communities in Malaysia and we look forward to leverage on each other’s expertise and experiences to achieve this,” added Mr. Michael Yuan.