pitchIN Surpasses RM200 Million in Funds Raised, Eyes Islamic Market Next Yearby Fintech News Malaysia December 16, 2021 0 comments
pitchIN, a Malaysian equity crowdfunding platform (ECF), announced that it recorded RM200 million funds raised in November 2021 just a year after it hit the RM100 million mark.
The company said that it has assisted 124 companies to raise capital, with 6200 investments made by a growing network of all classes of investors such as VCs, family offices, sophisticated investors, angel investors and retail investors from Malaysia and around the world.
pitchIN is looking to launch its secondary market in Q1 2022 which will attract more companies and investors to its platform.
Additionally, pitchIN is set to offer Shariah-compliant ECF deals next year.
pitchIN also plans to start exploring expansion opportunities outside of Malaysia in the South East Asian region.
Sam Shafie, CEO of pitchIN said,
“We are delighted with the continued validation of equity crowdfunding. In 2016, pitchIN set out to add value to the funding landscape through the democratisation of fundraising. Today, pitchIN has become among the largest funding systems for SMEs and startups in Malaysia.”
Kashminder Singh the CSO of pitchIN said,
“Over the last 5 years, many companies that raised funds on pitchIN have grown significantly. Companies like Signature Market and Ray Go Solar have announced plans to go for IPO. pitchIN has facilitated private secondary trades of some companies at up to 6x investment returns.
The recent revisions to the ECF guidelines which now allows ECF deals up to RM20 million as well as opening up ECF to unlisted public (Berhad) companies expands the market opportunities.”