pitchIN Seeking to Raise up to RM 5 Million Funds Through ECFApril 14, 2021 0 comments
pitchIN will launch an equity crowdfunding campaign of its own on 19 April 2021 to raise funds for business expansion and new business units. The company seeks to raise between RM 3 million and RM 5 million from investors.
This will be pitchIN’s first ever fundraising exercise. Separately, pitchIN will raise RM 5 million from an institutional investor.
pitchIN CEO Sam Shafie explains,
“Since we started, pitchIN has been self-funded. And during that time, we have become Malaysia’s leading equity crowdfunding (ECF) platform. We are now raising between RM 3 mil to RM 5 mil through equity crowdfunding, in addition to a RM 5 million investment by an institutional investor.
This fundraising will be used to grow our team, offer an integrated platform, introduce new products and to magnify our brand. We hope to be the one stop platform for companies to raise their funding through the products that we offer and for investors to invest in the best founders and companies in Malaysia.”
pitchIN has grown by leaps and bounds since it launched in 2016 as one of the initial ECF platforms approved by SC.
Kashminder Singh, CSO of pitchIN says that the time is right for fundraising.
“From a little known funding option five years ago, ECF has become the fundraising tool of choice for SMEs and startups. pitchIN is at the forefront of this ECF wave. To date, we have run over 100 successful ECF campaigns and raised more than RM140 million.
The number of companies who are seeking capital continues to grow. We want to expand our operations to serve more businesses and investors as well as offer new services. pitchIN will open a secondary market for its ECF platform later this year. It has also applied for a license to operate an IEO platform.”
The pitchIN ECF campaign will be held on the Leet Capital ECF platform as current rules relating to fundraising on ECF in Malaysia preclude pitchIN from raising on its own platform.
The minimum investment in pitchIN is RM 4,500 for 1 lot of 10 shares.
The investment offer and details about the pitchIN fundraising campaign can be viewed at http://bit.ly/pitchIN-ECF