pitchIN, one of the leading platforms for equity crowdfunding (ECF) in Malaysia, has just raised $1.34 million via their very own equity crowdfunding round.
A total of 322 investors participated in the ECF round.
Key Highlights
- pitchIN raised a total of RM5.5 million (US $1.34 million) via Leet Capital, another equity crowdfunding platform from Malaysia.
- A total of 322 investors participated in the round, which include retail, angel, and sophisticated investors.
- pitchIN is also in the final stages of raising an additional RM5 million from institutional investors.
Why It Matters
- pitchIN's campaign was an oversubscribed round, surpassing the initial target of RM5 million.
- There are over 900,000 SMEs in Malaysia alone, many that could potentially raise funds via equity crowdfunding in the future.
- To date, pitchIN has helped 112 SMEs raise RM177 million across 5,500 investors.
- Funds raised will be used to expand the company's operations to serve more businesses, as well as open up a secondary market for its ECF platforms later this year.
