It Only Took Fundaztic 38 Minutes to Raise RM3 Million on pitchIN | Digital Asia
Digital Asia News Update
Peoplender, the company behind the Fundaztic P2P Financing platform, has become the fastest ever funded equity crowdfunding deal in Malaysia. The company raised RM3 million in just 38 minutes on pitchIN.
64 investors put in the maximum allowed RM3 million into Fundaztic when it went live on 17 October 2018. The deal was confirmed fully funded by pitchIN after it completed the mandatory 6 days cooling off period today.
Fundaztic CEO Kristine Ng said:
“We are overwhelmed with joy to see the love investors have shown us. When we planned this fundraising round, we felt that our Elite Club members, who are the strongest supporters of our P2P Financing deals, should be given opportunities to invest in Fundaztic.”
“The best platform to do this was through ECF and we naturally turned to pitchIN.”
Sam Shafie, pitchIN’s CEO said that:
“We knew from its strong pre-live interest that Fundaztic would be successfully funded and we were delighted to see the deal funded in just 38 minutes.”
“Fundaztic is also special to us because it is a fellow Registered Market Operator with the SC, albeit in the P2P Financing sector. This deal marks the very first time that two crowdfunding platforms that are regulated as Recognised Market Operators (RMO) by Securities Commission (SC) came together in a fundraising alliance.”
According to Sam, “This has boosted the awareness, trust and acceptance in the industry. We were very pleased that Fundaztic decision to raise a portion of its funds through ECF as it validated the power of equity crowdfunding. We thank them for choosing to raise on pitchIN.”
According to a press release, Fundaztic is pitchIN’s 22nd successful equity crowdfunding deal, and the latest addition to the equity crowdfunding platform’s 100% successful deal rate since their 2016 launch. Reportedly, pitchIn has raised over RM29 million for Malaysian companies to date.