Signature Market, a Malaysian platform that sells natural and organic products online has managed to raise up to RM 1,507,089 (about US$351,075) through equity crowdfunding platform pitchIN.
The campaign lasted for two weeks, but it still managed to set a new record for the highest number of investors in a Malaysian equity crowdfunding campaign, having raised funds from 161 investors.
The fund collected from this round will be used to expand the company’s production facilities and move into new markets including Singapore, in addition to improving their system for a better consumer experience.
Set up two years ago, Signature Market provides natural and online groceries ranging from organic snacks and foods to vitamins and personal care products.
It sells it products directly to customers and offers members at 20 to 50 percent off standard retail price for a yearly fee of RM 200 (about US$46).
Edwin Wang, the CEO of Signature Market said, “The pitchIN team helped us to put our offer document together quickly. They were also at hand to explain to interested investors how equity crowdfunding works.”
“Together, we were able to attract many investors. I am grateful for the confidence these investors have in our company and I will do my best to fulfill their trust.”
This deal also comes as the tenth ECF deal that pitchIN has successfully closed in the first year of its operation. To date, the crowdfunding platform has raised close to RM10 million for Malaysian companies such as HR startup Kakitangan.
Meanwhile, pitchIN CEO Sam Shafie said, “We’re very pleased to hit the milestone of 10 successful deals and RM10 million funds raised. We congratulate Signature Market for their success. pitchIN is proud to do its part in assisting companies to reach for the skies.”