pitchIN will launch an equity crowdfunding campaign of its own on April 19 this year to raise funds for business expansion and new business units.
The company seeks to raise between RM3 million and RM5 million from investors and another RM5 million from an institutional investor.
Chief Executive Officer (CEO), Sam Shafie said pitchIN has been self-funded and they have become Malaysia’s leading equity crowdfunding (ECF) platform since they start in 2016.
“We are now raising between RM3 million to RM5 million 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 magnify our brand,” he said.
Sam further said that they hope to be the one-stop platform for companies to raise their funding through the products that they offer and for investors to invest in the best founders and companies in Malaysia.
In the meantime, Chief Security Officer (CSO) Kashminder Singh said pitchIN is at the forefront of this ECF wave, from a little-known funding option five years ago, ECF has become the fundraising tool of choice for Small Medium Enterprises and also startups.
“We have run over 100 successful ECF campaigns and raised more than RM140 million and 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,” Kashminder said.
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 and pitchIN also offering incentives to investors who commit early. From April 14 to May 3 2021, pitchIN will be offering bonus shares to investors.