Snippets
Fundaztic & pitchIN enhancing different ecosystem
Focus Malaysia 11 Oct 2018 16:01
For the very first time, two crowdfunding platforms that are regulated as Recognised Market Operators (RMO) by the Securities Commission (SC) are forming an alliance with the aim of boosting awareness, trust and acceptance in the industry besides offering exciting fundable deals to investors. The alliance will see Fundaztic, the peer-to peer (P2P) financing market leader in terms of number of SMEs raise funds via pitchIN, the market leader in equity crowdfunding (ECF).
 
Commenting on the campaign, Ms. Kristine Ng, Chief Executive Officer, Peoplender Sdn Bhd, the company that owns and manages Fundaztic said, “We are confident that the 3 million shares – the maximum allowed under the ECF Guidelines - that will be made available through equity crowdfunding will receive overwhelming response as preliminary indication of interest is already nearing 11 million.”
 
The indication observed is based on the pre-marketing exercises that were conducted in the open market which attracted huge interest amongst its Elite Club members, network of affliates and potential strategic sophisticated investors. 
 
“This tremendous interest is testimonial of trust towards the performance of Fundaztic currently and projections for the future.  We take this as motivation to spur growth and host even more Notes each week to underserved but viable SMEs.” added  Ng.
 
Addressing at the event, Mr. Sam Shafie, Chief Executive Officer of Pitch Platforms Sdn Bhd, added, “Based on our experience and our record of 100% success rate, we are optimistic that the 3 million shares will be snapped up within a short span of perhaps between 1 –  2 hours as Fundaztic has already established proven track records in terms of earnings growth as well as growth in their member base and Notes hosted each week.”.
 
“PitchIN is very selective in the campaigns that we choose to host and this is why the 22 campaigns that have gone live all managed to raise the funding required and are all growing their businesses as projected. We are very pleased to form this alliance with Peoplender, as it has disbursed approximately RM28 million to over 300 SMEs to-date with a default rate of about 1.3% only.”   We are happy that they have chosen to raise funds using ECF and pitchIN in specific because it provides a strong synergistic effect for the entire alternative funding eco-system,” further commented Sam.
 
Members and investors of both Fundaztic and pitchIN are required to register on both Fundaztic and pitchIN and can indicate to both platforms their interest during the pre-marketing stage and begin investing when the campaign is activated by pitchIN effective 17th October 2018.   
 
The fund raised through this exercise will be utilised to further boost the platform’s offerings and resources with the aim of tripling the disbursement amount to SMEs and micro businesses by end of 2019.  And in tandem with technology advancements, funds will be utilised to beef-up technology, and also security, which cannot be compromised at any point in time. 
 
Another major innovation that Fundaztic will be coming up with would be the secondary market which allows for investors to trade their investments within the platform for early exits. 


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