Signature Market attracts record 161 ECF investors
By Digital News Asia July 14, 2017
- Raises US$351k from 161 investors during its campaign on pitchIN
- Signature Market sells natural and online groceries directly to consumers
SIGNATURE Market, an online organic food grocery has raised US$351,000 (RM1,507,080) from 161 investors during its equity crowdfunding campaign on pitchIN.
Signature Market’s campaign only ran for two weeks but it still managed to set a new record for attracting the highest number of investors in a Malaysian equity crowdfunding campaign.
This deal is the tenth ECF deal that pitchIN has successfully closed in its first year of operations.
pitchIN has now raised close to US$2.33 million (RM10 million) for Malaysian companies.
Signature Market sells natural and online groceries directly to consumers, enabling the company to offer items that are at a lower price point than retail stores.
Signature Market members get 20%-50% off standard retail prices. The company will be using its fundraising proceeds to expand its production facilities and expansion into new markets such as Singapore.
More new products and improvements in systems will be introduced to enhance consumers shopping experience with Signature Market.
Signature Market CEO Edwin Wang thanked pitchIN for making the ECF process smooth and efficient, “The pitchIN team helped us put our offer document together quickly. They were also at hand to explain to interested investors how equity crowdfunding works. Together, we were able to attract many investors. I am grateful for the confidence these investors have in our company and I will do my best to fulfil their trust.”
pitchIN CEO Sam Shafie was pleased that pitchIN could assist yet another company to raise funds for expansion and growth.
“We are very pleased to hit the milestone of 10 successful deals and RM10 million funds raised. We congratulate Signature Market for their success. pitchIN is proud to do its part in assisting companies to reach for the skies. It is very clear that equity crowdfunding is a viable way for businesses to raise funds and we invite Malaysian companies to talk to us.”
He added that Malaysian investors could look forward to more such companies raising funds soon on pitchIN Equity.
“pitchIN is working to bring at least one deal a month for the rest of 2017. Investors who are looking for opportunities to invest in fast growing early stage companies are encouraged to register on pitchIN as registered users will have early access to our deals.”