Private equity firm Creador owned by Brahmal announced its acquisition of a 14.7% equity interest in CTOS Digital Berhad, through a roll-over of its investment from Creador II, its second fund, to its fifth fund, Creador V launched in 2021. The purchase price for the transaction is set at RM1.35 per share.
Creador II was launched in August 2013 and is approaching the end of its 10-year fund life in August. The fund first invested in CTOS in August 2014, and Creador has been an integral part of the Company’s success and sustained performance. Over the past 9 years, CTOS with the support from Creador has implemented and executed significant growth initiatives, including hiring a new senior management team led by Erick Hamburger and Eric Chin, introducing new sophisticated analytics and
scoring products, and acquiring complementary assets such as Juris Technologies, Basis Corporation, RAM Holdings as well as Business Online PLC in Thailand. As a result, CTOS’ revenues grew from RM49 million in 2014 to RM195 million in 2022, and its employee strength expanded from 100 to over 500 people, providing complex credit solutions to a diverse range of industries including banks, non-banking financial institutions, Buy Now Pay Later companies, telecommunication, and insurance companies, among others.
The company was successfully listed on Bursa Malaysia in July 2021 at MYR1.10 per share, raising a total of RM1.2 billion. As of 19 April 2023, the company’s market capitalisation is MYR3.1 billion. Creador said it is confident of CTOS’ growth potential in Malaysia, given the increasing digitalisation of the financial services industry and improving financial literacy among Malaysians. The firm also sees significant opportunities in the ASEAN markets, where penetration of credit bureau solutions is still relatively low.
