Babydash breaks Malaysian equity crowdfunding record
By Digital News Asia April 12, 2017
- The 131 investors eclipse the previous record of 63 investors that was achieved by Kakitangan.com
- The Babydash ECF campaign crossed its minimum funding target of RM200,000 in less than a week
BABYDASH is an equity crowdfunding (ECF) record breaker. The Malaysian online baby store has attracted 131 investors and raised RM1,574,400 million on the pitchIN Equity crowdfunding platform.
The 131 investors who took stakes in Babydash eclipses the previous record of 63 investors that was achieved by Kakitangan.com in September 2016, also on pitchIN Equity.
Equity crowdfunding offers investors the opportunity to invest in companies at an early stage in return for a direct equity stake in that company. pitchIN is approved by the Securities Commission to offer ECF services in Malaysia and in nine months, it has successfully raised funds for seven companies.
The Babydash ECF campaign ran over 45 days. It showed steady interest right from the start when it crossed its minimum funding target of RM200,000 in less than a week.
The final ten days of the campaign saw frenzied interest with the final figure jumping to its record level on the final day.
Babydash CEO Lavinie Thiruchelvam thanked all investors who have backed the company.
“Tay Shan Li and I, the co-founders of Babydash, grew it from a startup to a RM2.5 million revenue company using our own funds. The funds that we have raised in this round will enable us to grow much faster.
“We are especially grateful that many of our regular customers have taken the opportunity to become our investors. They will now be able to profit from our future growth. We will do our very best to repay the trust of our investors.”
pitchIN CEO Sam Shafie says this is another sign that the Malaysian equity crowdfunding industry is on a strong upward trend.
“Time and again, pitchIN has proven that investors will come in for good deals. pitchIN has done three deals this far in 2017 and all have been well received by investors.”
Sam added that, “pitchIN has become the leading ECF platform in Malaysia. The RM4,000,000 that we have successfully raised to date makes pitchIN the best performing ECF platform in Malaysia. pitchIN will not rest on its laurels and investors can look forward to more great deals coming up soon on pitchIN Equity.”