Fundaztic Raises RM16 Million in Less Than Two Weeks on pitchINby Fintech News Malaysia November 30, 2022 0 comments
Peoplender, the company behind the Fundaztic P2P financing platform, has raised more than RM16 million on Malaysian equity crowdfunding platform (ECF) pitchIN’s platform.
According to pitchIN, the campaign was oversubscribed in less than 2 weeks and is one of the largest ECF rounds ever in Malaysia.
The ECF campaign raised RM16,641,600 from 51 investors and the largest single investment was RM6 million.
In 2018, Fundaztic made waves when it raised RM3 million in just 38 minutes on pitchIN to become the fastest ever funded equity crowdfunding deal in Malaysia. The firm also secured an additional RM7 million in private placement.
pitchIN has funded 151 companies and raised over RM275 million to date.
Jeffrey Chew, Founder and Chairman of Peoplender said,
“We have returned to pitchIN for the second round as it enabled us to reach out to a full range corporate, high net worth, angel and retail investors.
A campaign on pitchIN also attracts wide publicity and interest.”
Sam Shafie, CEO of pitchIN said that it was happy to support its fellow Registered Market Operator again in their ECF campaign. He added,
“In 2018, the Fundaztic campaign drew strong very strong interest. It’s RM3 million ECF portion was fully taken up in 37 minutes the last time around. Since then, we have seen the company expand to Singapore and were extremely confident that investors would support its second ECF campaign.
This is the second large campaign of over RM15 million that pitchIN completed this year, confirming its status as the ECF platform of choice for fast growing well known Malaysian companies.”