MyStartr Raises RM4.7 Million Ahead of Secondary Market Entry This Yearby Fintech News Malaysia March 7, 2023 0 comments
Malaysian equity crowdfunding (ECF) platform MyStartr has raised RM 4.7 million through a Fundnel campaign led by 431 investors to support its entry into the secondary market this year.
MyStartr has also received an additional RM931,250 from the Malaysia Co-Investment Fund (MyCIF), a government initiative to support its business growth plans for 2023.
According to a statement by MyStartr, the company is preparing for an initial public offering (IPO) by 2027 as part of its five year growth plans.
MyStartr added that it is set to support more entrepreneurs and startups in achieving unicorn status and eventually gaining access to the stock market.
The company has also formed partnerships with Gamuda’s GMBB to build an entrepreneurial hub which aims to organise at least 100 entrepreneurial-themed events within a year of its official launching.
MyStartr is also collaborating with Astro to produce a crowdfunding reality TV show called The Sandbox that will provide hopeful entrepreneurs with a chance to be coached by established industry mentors, sell their ideas to a panel of investors, and expand their businesses.
“MyStartr’s vision for the next five years is to assist 3,000 businesses through crowdfunding, with a total funding goal of RM4 billion. Expanding into the secondary market is a natural step forward towards realising that goal.
We are incredibly grateful for the trust and confidence that our investors have placed in us, and we look forward to channeling these funds into helping local startups reach their fullest potential alongside our own,”
said Goh Boon Peng, Founder and CEO of MyStartr.