Babysitting platform Kiddocare raises US$131,658 on pitchIN
By Digital News Asia November 7, 2019
- New funds will be used to manage the swift growth experienced since they began
- Third company on pitchIN to get co-investment funds from Malaysian Co-investment Fund
KIDDOCARE has become the 39th company to successfully raise funds through equity crowdfunding on pitchIN. The company raised US$131,664 (RM545,026) from 22 investors. Kiddocare was also the third company on pitchIN to get co-investment funds from the Malaysian Co-investment Fund (MyCIF).
Kiddocare matches third-party babysitters with parents. All Kiddocarers (babysitters) undergo comprehensive background checks including criminal records, psychometric tests and a medical check-up. They also undergo training by childcare industry experts. In addition, each prospective babysitter must go through a face-to-face Interview with Kiddocare officers.
Kiddocare founder Nadira Yusoff (pic, right) expressed her thanks to the investors who enabled Kiddocare to exceed its funding target, “KIddocare is on a journey to create an ecosystem to support working parents by giving them the gift of freedom and time.
“At the same time, we empower women who want to pursue childcare as a career or generate extra income by giving them the platform to do so. Since we started less than a year ago, we have experienced explosive growth. The funds we have raised will help us manage our growth. Thank you to the investors who believe in us and pitchIN for facilitating the fundraising”
pitchIN CEO, Sam Shafie said, “Gig economy platforms such as Kiddocare are creating valuable job opportunities for Malaysians and pitchIN is pleased to have hosted their ECF campaign.”
He added, “Equity crowdfunding has really taken off in 2019. With two months to go till the end of the year, the number of deals and amounts raised have already surpassed 2018 figures. We are confident that by the end of the year, we will record sharply higher results.
“The MyCIF co-investment fund launched by the Ministry of Finance is achieving its target of assisting companies to reach their funding targets. We also believe that this vote of confidence by the government is encouraging more investors to participate in our equity crowdfunding deals.”
pitchIN hosts highly vetted fast-growing Malaysian SME on its equity crowdfunding platform. Positioned as long term investments, investors get shares in the companies they invest in. Equity crowdfunding typically gives investors access to fast growing companies at the stage when they offer the highest potential for future growth. To invest or learn more, head to www.equity.pitchin.my.
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