Biztory’s crowdfunding raises US$255,294 in eight days
By Digital News Asia January 23, 2020
- Went live on Mystartr on Jan 7, with a minimum target of US$122,754
- Powers more than 6,500 businesses across 60 cities nationwide
BIZTORY successfully attracted 96 investors in just eight days, raising a total of US$255,294 (RM1,039,860), becoming Mystartr’s first-ever successful crowdfunding project.
The Biztory Equity Crowdfunding project went live on Mystartr, a licensed equity crowdfunding platform by the Securities Commission, on Jan 7 with a minimum target of US$122,754 (RM500,000). The campaign ended in eight days.
“In 2019, we became a profitable company. Through this crowdfunding exercise, we aim to grow 13 times and help our investors to exit by going public in three years,” said Biztory chief executive officer Bryan Soong.
“Through Biztory, we wish to digitise more SMEs by helping them embrace technology, thus reducing costs and increasing competitiveness. As entrepreneurship has become a trend nowadays, they should leverage on cloud computing to manage their business anywhere, anytime.
“Since our crowdfunding is a great success, we are confident of expanding quickly and realising our vision”, said Soong.
In 2018, Biztory received RM300,000 from Cradle Fund’s CIP300 for commercialization and successfully quadrupled its performance within 12 months. Biztory was also recognised in multiple startup competitions, with a win as first runner-up at [email protected] 2019.
The event, which was organised by the Selangor State Government, saw the startup walking away with a cash prize and a sponsored trip to Silicon Valley.
Biztory is also the exclusive accounting software vendor for Hong Leong Bank’s customers, as their accounting software is one of the few in Malaysia that can integrate with the bank.
Biztory is designed to be user-friendly for small business owners so someone who has no accounting background can also manage their finances easily.
To date, Biztory powers more than 6,500 businesses across 60 cities nationwide, assisting companies in various industries to reduce the cost burden of accounting and bookkeeping.