pitchIN announces that the ECF campaign of Peoplender Sdn Bhd, Fundaztic’s corporate entity has raised more than RM16 million on pitchIN, making it one of the largest ECF round ever in Malaysia. The ECF campaign was oversubscribed in less than 2 weeks. The ECF campaign raised RM16,641,600 from 51 investors and the largest single investment was RM6 million.
This successful ECF campaign was a mark of confidence from its previous investors as a significant number of its previous corporate and individual investors increased their investments into the company. In October 2018, Fundaztic’s first ECF campaign had raised a total of RM10 million through a RM3 million ECF campaign and RM7 million private placement.
Peoplender operates registered P2P financing platforms in Malaysia and Singapore under the Fundaztic brand. Fundaztic claims the largest market share in terms of number of SMEs in Malaysia’s P2P industry. The company is founders-led, had weathered the pandemic and been EBITDA, net profit and cash positive status since September 2022.
Peoplender founder and Chairman Jeffrey Chew thanked pitchIN for facilitating another successful fundraising campaign. 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.
pitchIN CEO Sam Shafie said that pitchIN was happy to support its fellow Registered Market Operator again in their ECF campaign. “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. pitchIN has funded 151 companies and raised over RM275 million, making equity crowdfunding the most viable funding avenue for Malaysian SMEs today.”
