Ficus Capital invests US$422,000 in Malaysian tech startup Simplify

  • Claims it is the most advanced patented internet sharing technology
  • Funding supports Simplify's aim to make the internet more accessible, affordable 

The Simplify team

In a boost to Malaysia's rapidly expanding 5G ecosystem, Ficus Capital, the leading ESG Shariah Compliant VC, through its Ficus SEA Fund, announced its investment of US$422,000 (RM2 million) in Simplify with the amount representing a first close of its ongoing Series B round. Simplify said that the collaboration is set to supercharge its mission of making internet access universally accessible and sustainable, leveraging Malaysia’s 80% 5G population coverage.

[Ed: Para updated for accuracy.]

Simplify, a startup at the forefront of peer-to-peer internet sharing innovation, claims to revolutionize the way we connect. With Malaysia's 5G network achieving extensive coverage, the Simplify platform is uniquely positioned to enhance internet accessibility, turning every home broadband and personal hotspot into a part of a global community Wi-Fi network.

This initiative not only democratizes internet access but also empowers individuals to contribute to a shared digital economy. Ficus Capital invests US$422,000 in Malaysian tech startup Simplify

Yen Pei Tay (pic), founder of Simplify, expressed gratitude for Ficus Capital's investment, stating, “With Malaysia's 5G network reaching new heights, Simplify’s internet sharing platform's potential to bridge digital divides has increased. This investment will catalyse our efforts to harness 5G speeds for widespread internet sharing, making connectivity more accessible and secure for all.”

He added that Ficus Capital's trust in Simplify underscores the importance of integrating ESG values into the fabric of its business. “This new investment will fuel our efforts in making the Internet more accessible, affordable, and secure for everyone and is a move towards a more connected and sustainable future," Tay said.

Simplify claims to be the world's most advanced patented technology for internet sharing, offering users a seamless experience with its sleekly designed apps. Whether users are sharing internet bandwidth from smartphones or Wi-Fi broadband, they enable tens of thousands of hosts worldwide to generate gig income. As Malaysia embraces 5G, Simplify users can now share and access internet bandwidth with unprecedented speed and reliability, fostering a more connected community and generating additional income for thousands of hosts worldwide.

Meanwhile, Rina Neoh, managing partner of Ficus Capital, emphasised the alignment of Simplify's vision with Ficus Capital's ethos of supporting innovative and sustainable ventures. She said, "Simplify's innovative approach to internet sharing resonates with our mission of fostering growth and sustainability. Moreover, its commitment to enhancing internet accessibility aligns perfectly with our goal of investing in companies that drive positive societal impact."

Recognized by Fast Company as one of the World's 50 most innovative companies and a winner of NTT Startup Challenge, Simplify has garnered global acclaim for its impact on the telecom industry. With a network of 75,000 hotspots worldwide, the startup continues to expand its reach and influence, aiming to achieve 500,000 hotspots globally by 2026.

Reflecting on Simplify's journey, Tay shared insights into the company's evolution, where the company started with a vision to revolutionise smartphone connectivity and, through collaborations and perseverance, commercialised a technology that simplifies the way we connect. The startup’s journey at MIT brings disciplined entrepreneurship mantra in charting its roadmap to turn a piece of technology into a proven business model.

Tay said, "With the investment from Ficus Capital, Simplify is poised to accelerate the deployment of its 5G Fixed Wireless Access solution in collaboration with partner telcos, further promoting internet sharing on a large scale.”

The company’s deployment approach extends beyond technology, envisioning a future where individuals can share excess Internet bandwidth with Internet of Things devices, turning every smartphone into a mini hotspot, every Wi-Fi router into an extended coverage area.

As it harnesses the power of 5G, the future of internet sharing looks brighter than ever. This collaboration between Ficus Capital and Simplify is more than an investment; it's a commitment to a more inclusive, connected, and sustainable digital future for Malaysia and beyond.

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