Everpeaks, a Malaysian based omni-channel eCommerce solutions provider today announced that it is set to raise further funds via pitchIN, the leading equity crowdfunding (ECF) platform in Malaysia to raise USD375,676 (RM1.6 million).
With its business strategy, target customer intact and product idea in place, the ECF campaign is currently on at the pre-live stage on pitchIN while the company is in talks with interested investors. Officially an approved Angel Tax Incentive certified company, (https://www.cradle.com.my/products/angel-tax-incentive), Everpeaks is bullish about the prospects of this particular journey.
As the company is set to spread its wings over the SouthEast Asian market, Everpeaks CEO and Founder, Joachim Sebastian said that “We are looking to fund raise to strengthen the company’s operations. We are already almost breaking even at this point with an average growth rate of 76% year-on-year and any investment will be used for business expansion.”
Taking on the positive sides of the current Covid-19 pandemic that has practically changed the way e-commerce is opening up with new opportunities within the Manufacturer to Consumer (M2C) Commerce, Everpeaks is looking forward to riding that wave. Everpeaks has strong partnerships with global leaders in the eCommerce industry with them being the only SouthEast Asian Amazon Service Partner Network Member, the only Malaysian eBay Channel Partner and the Malaysian Community Partner for Payoneer.
Joachim also stated that 40 percent of the investment portion is allocated towards building a marketing effort with plans to be present in exhibitions around the world, in their bid to expand by securing clients and establishing their brand across the region.
It is also in their scheduled plans to allocate an additional 30% of funds to develop and refine their technology solution with 20 percent to be allocated towards building the manpower strength. Previously, Everpeaks had received a RM300,000 (USD70,561) grant in 2018 from Cradle Fund’s CIP300 grant and had successfully achieved program deliverables.
Everpeaks was also part of the ever growing Structured Coaching Program (SCP) conducted by Proficeo for Cradle Fund as part of the CIP300 grant recipient program. Joachim said that all of the successes are part of the mentorship and guidance he received from all the programs that helped Everpeaks® improve and grow its business further while preparing the team for the fund raising.
Poised to take on the market, Everpeaks have secured RM1 Million in funding from a lead angel investor ahead of the targeted June 15, being LIVE on the pitchIN platform. This investment will be spread over two tranches – June 2020 and February 2021.
They have had no outside investment prior to this round besides the Cradle grant. Strongly believing that the next big thing will be Manufacturer to Consumer (M2C) e-commerce business with the Covid-19 pandemic not only accelerating the market need for them, the situation has increased the total addressable market for e-commerce globally with Everpeaks being bullish about garnering that portion of the market.