Wellness platform Sentuh.my raises US$177k on its ECFcampaign
By Digital News Asia November 17, 2020
- Campaign was 272% above target, 74 investors put in money
- End-to-end booking & management system at its final stages of development
Sentuh.my (Sentuh), a digital wellness platform that links qualified wellness, beauty and physiotherapy centres and mobile therapists to customers today announced that it has successfully raised US$176,600 (RM734,400) via equity crowdfunding platform pitchIN. The Malaysia Co-Investment Fund (MYCIF) also participated in the fundraising, on a 1:2 ratio where it chipped in RM221,400 to the RM513,000 raised. The MYCIF scheme was aimed to provide additional liquidity into the alternative fundraising space.
With the funds in place, Sentuh.my is moving forward with its plans. The Sentuh Merchant App featuring the end-to-end booking and management system is at its final stages of development, targeting a launch in Q12021. The development is at beta testing stage with the team busy onboarding the first group of merchants onto the platform.
Sentuh’s CEO & founder Ahmad Aizudin explains: “With the prolonged CMCO (Conditional Movement Control Order) period and the heightened awareness on general wellness, we foresee demand to be at an uptrend moving forward. We are targeting to grow our market by providing access to quality wellness and beauty services to more people. We invite merchants and service providers in the wellness and beauty vertical to explore our Sentuh Merchant App and be onboard as part of this exciting journey.”
With the App in place, merchants will be able to manage their therapists from their personalised Merchant App dashboard. As merchants, they have an end-to-end overview of their therapists, bookings, data analytics and reporting, all important data points for them to make sound business decisions.
For merchants, digitising their services will be a costly and time consuming exercise, apart from the complex technological requirement that is needed. On top of that, the current pandemic and post-pandemic environment with strict SOP requirements would only mean that consumers’ trust will still be a challenge. Via the App and our positioning in the market, merchants will be providing access to quality wellness and beauty services to more people, increasing their revenue stream whilst widening their market without having to manage the technological side of the process.
The user-friendly easy to use App, will also enable therapists to have an access to their booking history and current bookings as well as a view of their commision from the Sentuh Therapist Mobile App. This provides a manageable, open communication between the Merchants and their therapists, creating a better safety net for gig workers who are part of our valuable workforce.
Ahmad Aizudin expressed his gratitude for the successful fund raising exercise. “Together with our co-founders and crew, we would like to take this opportunity to thank the investors for the support. pitchIN has definitely been a tremendous pillar for our success and we would like to extend our utmost appreciation to them for their unparalleled breadth of advice and guidance in getting early stage companies like ours to successfully get the funding that we require for our expansion strategy. We have successfully launched in Brunei this month via a partnership model and targeting our next move to scale to the rest of the South East Asia market by Q22022.”
pitchiN Chief Strategy Officer Kashminder Singh extends their congratulations to Sentuh for their successful equity crowdfunding campaign. “The campaign was very well received by investors, going far beyond its initial target. The campaign was supported by 74 investors that raised RM734,000. Sentuh Sinergi campaign was 272% above their target, which is a testament to the quality of the deal. Investors liked the value proposition. At the same time, the company not only has new investors on board, they now have 74 brand ambassadors who will surely help to spread the word on the company they invested into."