Making headway in equity crowdfunding
Calyn Yap | 22 Jul 2016 00:30
As the pioneering Southeast Asian country to introduce a legal framework to enable equity crowdfunding (ECF), there is obviously keen interest to see how financial technology (fintech) is rolled out in Malaysia.
This initiative came on the back of conventional reward-based crowdfunding which has yet to establish a strong foothold from around 2012. Hence, there were scepticisms whether ECF could take off despite an ongoing push to educate the public and encourage participation.
ECF, however, appears to have proven its sceptics and critics wrong. Two years after the framework’s debut, the drive for capital market inclusiveness seems to be on the right track.
Following the licensing of Crowdonomic (Crowdo), pitchIN, Propellar Crowd+ (CrowdPlus.asia), Alix Global, Ata Plus and Eureeca as ECF operators in June last year, the first batch of issuers has achieved promising feats.
FocusM takes a look at some companies which had raised capital ranging from RM200,000 to close to RM3 mil on the licensed ECF platform.
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