Bidnow.my, has managed to complete its second-round funding exercise from crowdfunding platform MyStartr by securing RM5.5 million from 470 investors.
The amount was the highest achieved on the platform and the quickest which was within 2 weeks. Bidnow.my serves as a platform for users to access all public auctions on properties listed in Malaysia. The platform secured its first equity-based crowdfunding from MyStartr as well, during which it managed to secure RM 2.1 million from 384 shareholders.
Commenting on the funding achievement, MyStartr’s Founder and CEO, Mr Goh Boon Peng said, “we are very honoured to assist Bidnow at every step of the fundraising process to achieve success”
Bidnow.my was established in June 2019 as a one-stop auction property business platform. Within two years, it has become the largest property bidding site in Malaysia. Currently, more than 20,000 active members and over 8,000 real estate brokers are registered on the platform. It has launched similar concepts for home appliances, gadgets, luxury watches, and furniture.
The platform is looking to establish a second base in Jakarta, Indonesia and also, develop a complete e-bidding system for all auction houses and banks while integrating with other property portals, it used its funding to set up an office in Singapore and for software upgrades.
