Started in 2018, DAX Venture first focused in digitizing real estate transactions by launching rentDAX, a digital platform aiming to simplify the way people buy, sell & rent by providing a trust platform between landlords, tenants, buyers, sellers & licensed real estate negotiators.
Instead of requiring tenants to pay a rental deposit, rentDAX stands in and pays the deposit on behalf of the tenants after conducting a comprehensive credit assessment. The landlord then entrusts rentDAX to perform monthly rental collection from the tenants on behalf of them, and the digital payment gateway provider back then was RevPAY from Revenue Group Bhd, a cashless payment solutions provider listed in the Malaysian Stock Exchange.
This was met with welcoming response as the tenants were able to free up their cash flow, landlords continue to receive a rental deposit as guarantee while having their monthly rental collection automated, and real estate negotiators were able to conduct more transactions due to more tenants able to rent affordably due to the reduced upfront cash flow required.
loanDAX was then the in-house developed credit assessment platform used for digitizing and processing of all the applications from the tenants to maintain a 48-hour turnaround response time. To encourage tenants to pay their rent on time while promoting financial literacy, we partnered with licensed leading credit agency Experian Malaysia (formerly known as RAM Credit Information). Tenants who make prompt rental payments will observe a positive effect on their credit scoring as it is recognized by the credit agency and reflected in the credit report outcome.
In 2020, Revenue Group Bhd saw the opportunity to expand their lending business and acquired DAX Venture. We are now a fully owned subsidiary of the group where our business has now expanded into providing personal loans, home rental deposit loan & house renovation loan through the group’s lending business unit.