Fingular (Wawasan)
A Malaysia-based digital consumer lender operating since May 2023 under the "Tambadana" brand, via Wawasan Cojaya Sdn. Bhd. — a KPKT digital moneylending licensee in the Fingular group, offering short-term and installment loans up to MYR 6,000 to subprime/near-prime Malaysians. FY2025 revenue USD 41.3M (+595% YoY), USD 3.4M PBT, zero covenant breaches across 6 KILDE tranches.
Kilde Score is the platform’s proprietary credit assessment of the borrower, reflecting Kilde’s independent credit view and expressed as a numeric score from worst to best (1.00–5.75). For full details of the credit methodology, including its mapping to a Fitch-style rating equivalent, please refer to this article.
Total unpaid balance on a loan, comprising both the remaining principal and any accrued interest.
Malaysia
Singapore
Regulatory status of the borrower: Licensed if the license is required, or 'Not applicable' if no licence is required in its operating market(s).
Total amount of loans the borrower has issued to its own end customers. Reflects the company's overall lending scale.
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Overview
Background & History
Launched in May 2023 as the Malaysian operating entity of the Fingular group, Wawasan Cojaya Sdn. Bhd. (company № 1123810-P) acquired a pre-existing KPKT moneylending licence and reactivated a previously dormant shell – upgraded to a digital moneylending licence in April 2024 as one of the first digital licensees in Malaysia. The company operates under the Tambadana brand (short-term and instalment lending). Headquartered in Kuala Lumpur with 100+ employees, it has originated over USD 330M in loans since inception entirely through its digital platform and is currently the most profitable operating entity in the Fingular group.
Business Model & Lines of Business
Wawasan runs a fully digital, end-to-end online lending franchise with proprietary IT and 10-second credit decisions. Three product lines: (i) Tambadana Single Payment Loans (SPL) (30-day terms, MYR 5,000 / ~USD 1,127 max), (ii) Tambadana Instalment Loans (IL) (up to 6 months term, MYR 6,000 / ~USD 1,352 max), and (iii) Tambadana Credit Line (CL) (up to 12 month term, MYR 6,750 / ~USD 1,500 max). Pricing comprises upfront fees plus monthly interest; the interest component is within Malaysia's 18% p.a. cap for non-bank lenders. Customer acquisition runs via Meta, Google, TikTok, organic referrals and affiliate partnerships. Funding is diversified across Loanch P2P (~61% of external debt), KILDE and subordinated loans, with KILDE’s facility secured by a floating charge over receivables (80% LTV, 5+ DPD replaced quarterly).
Key Milestones
FY2025 revenue reached USD 41.3M (+595% YoY) following USD 5.9M in FY2024 (+1,270% YoY) and USD 0.4M in FY2023 (8 months of operations). Profit before tax expanded from a USD 0.4M loss (FY2023) to USD 0.7M (FY2024) to USD 3.4M (FY2025), with operating profit of USD 13.5M before HQ management fees. Net loan portfolio grew from USD 0.2M to USD 4.9M to USD 26.7M, reaching USD 27.7M as of Q1 2026, and total equity expanded to USD 7.4M (including USD 4.5M of subordinated debt reclassified as equity). KILDE financing was onboarded in December 2025 under a SGD 10M secured debt note programme; six tranches totalling USD 8.4M have been issued (Dec 2025 – Jun 2026), and a signed extension has increased the programme limit to SGD 20M, with zero late payments and zero covenant breaches (L/E 1.99x vs <4.0x; CIR 44.9% vs <80%; CAR 25.0% vs >20%).
Management Team & Organization
Led in Malaysia since 2023 by CEO Harold Chen, a finance, collections and strategy executive with 15+ years of experience and a CIMA diploma. The Kuala Lumpur team was strengthened in 2025 with senior hires across five functions: Operations - COO Effi Azraf, Finance - CFO Hazeena Maidin (30+ years), Collections - CCO Desmond Khor (25+ years), Marketing - CMO Arisya Razak, and HR - CHRO Hasnaa Hasim.
The Malaysian entity has a single statutory director (Khor Chii Khiong), with board oversight at group level. The entity has been KPKT-licensed and in good standing since the April 2024 digital upgrade.
At the group level, Fingular Pte. Ltd. is run by Group General Manager (CEO) Konstantin Barabanov, Group COO Alex Naumov, Group CRO Alexey Trifonov and Group CPO Andrew Sytsko.
In September 2025, the shareholders confirmed their intention to continue providing financing to support group growth.
Financials
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Total income (interest and fee income) generated from the borrower’s lending activities.
Products
Typical contractual tenor of the loans disbursed by the borrower to its end customers.
The effective Annual Percentage Rate of the loan charged by the borrower to its end customers, inclusive of interest and fees.
Typical principal amount disbursed by the borrower to its end customers per loan transaction.
Expected share of non-performing loans (NPL) — loans where the end customer has stopped repaying — under this product, shown as a range.
Share of this product in the borrower's overall loan portfolio. Shows how much of the lending business comes from this product.
Market Data
According to Fitch Rating
Annualised
Annualised