FundedByMe Malaysia qualified for co-funding with Malaysian government‘s that allocates RM50M (€10,8M) from co-investment fund
Malaysian government announces the allocation of up to RM50M (€10,8M) to set up a co-investment fund with regulated and established equity crowdfunding and P2P portals in the region.
FundedByMe Malaysia holds both licenses for equity crowdfunding (FundedByMe Malaysia) and for P2P (AlixCO) in the region and is excited to announce this new opportunity for co-funding for clients seeking to fundraise via the FundedByMe portal and method. Any co-founding will have to meet certain criteria, presented in-depth here. In Malaysia, FundedByMe operations P2P on the Alixco platform (www.alixco.com).
The Government will support and encourage new digital financial innovations such as Equity CrowdFunding (ECF) and Peer-to-Peer (P2P) platforms. Collectively, more than RM430 million (€93M) has been cumulatively raised as of June 2019, benefitting more than 1,200 SMEs.
Building on this early success, the government will further allocate an additional RM50 million to My Co-Investment Fund (MyCIF) under the Securities Commission Malaysia to leverage such platforms to help finance the underserved SMEs. FundedByMe AB (Sweden) has previously collaborated with co-funding methods with business angels, micro-VCs and also governmental institutions like Internetfonden. Many crowdfunding pitches on the platform have co-funding in forms of lead investors, anchor investors and similar. FundedByMe historical data shows that if a crowdfunding pitch collects funds from crowdfunding with co-funding, their likelihood of succeeding increases by 30%.
FundedByMe Malaysia is a Joint Venture between FundedByMe Sweden and local partners incorporated as FBM Crowdtech Sdn Bhd. The Malaysian government with the Securities Commission have been forerunners in the South East Asian region by regulating equity crowdfunding and P2P and has successfully analyzed the market and allowed 6 platforms to be regulated. FundedByMe is the only international equity crowdfunding portal that has received both the equity crowdfunding license and the P2P license. FundedByMe Malaysia also shows good interest from European investors looking at Malaysian crowdfunding, with fast-growing startups such as the SaaS HRM platform iTalent (WorkSmartly) and the retail chain SWC attracting many investors from Europe.
About FundedByMe
FundedByMe AB (publ) is a parent company consisting of FundedByMe.com, Feminvest - probably the largest female network of investors in the North and Laika Consulting AB, a fully owned subsidiary that offers Investor Relations as well as marketing and financial communication. The company also has 6 joint ventures in Finland, Malaysia, Dubai/UAE, Poland, The Netherlands and Singapore. The company holds a business license in Malaysia (equity and P2P/P2B) and in Dubai/UAE (an equity crowdfunding license as well as a license to uphold client accounts). Together the group reaches over 269.000 registered investment members globally.
