Equity crowdfunding (ECF) platform MyStartr is starting the year strong, successfully raising RM 4.7 million through a Fundnel campaign led by 431 investors. The funding will support MyStartr’s entry into the secondary market this year and strengthen business growth, towards providing better access for issuers as Malaysia’s leading ECF platform.
Over its 10 years in the market, MyStartr has dedicated its fundraising expertise to assist struggling entrepreneurs in realising their goals and expanding their businesses. This has helped its SME issuers overcome hurdles to securing financing, such as insufficient credit scores and inconsistent cash flow.
“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,” shares Goh Boon Peng, founder and CEO of MyStartr.
In addition to the success from their funding campaign, MyStartr has also received an additional RM931,250 from the Malaysia Co-Investment Fund (MyCIF), a government initiative to support their business growth plans for 2023.
Partnerships with Gamuda and Astro to spearhead 2023 growth
In line with their trajectory for 2023, MyStartr is also collaborating with Astro to produce a crowdfunding reality TV show called The Sandbox that will be aired on Astro AEC. The TV programme will explore the dynamic landscape of investment and the business potential of local entrepreneurs.
The Sandbox 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 to ultimately grow the Malaysian economy. The participants will also be exposed to industry know-how including business model strategy, communication skills, as well as company valuation.
As part of its five-year plan, MyStartr is also preparing to achieve IPO status by 2027. The brand is set to support more entrepreneurs and start-ups in achieving unicorn status and eventually gaining access to the stock market.
