Shah Alam, Malaysia – MyStartr, a Malaysia-based crowdfunding platform, has announced that it has completed 13 projects in 2020, to which all of them have successfully concluded their fundraising rounds amounting to RM20M.
Among the 13 successful projects in 2020, there were 3 projects successfully raised more than RM2M, namely education smartcard system i-3S (RM3.03M), football court operator FootballHub (RM3.03M) and online auction house BidNow (RM2.1M).
“Knowledge in relation to the capital market mechanism is essential for startups. However, awareness is still low among startups. Therefore, MyStartr has a mission and objective to assist start-ups, especially the young entrepreneurs who have developed creative and innovative products and services, to grow further. The vision is to assist 5,000 entrepreneurs to be successful over the next 10 years with RM2.5B funded amount,” the company said in a press statement.
They added, “Although the startup scene in Malaysia has been growing tremendously over the last few years, the capital market is still not familiar with the early stage startups. As such, equity crowdfunding platforms such as MyStartr plays a crucial role in bridging the gap between the investors and startups, educating more and more retail investors to invest in a proper way, and assists the startup in scaling faster and bigger.”
In terms of investors, the platform had attracted 1,580 investors participating in equity crowdfunding (ECF) while about 75% of them were retail investors who invested less than RM5,000 in a project. Meanwhile, Malaysia Co-Investment Fund (MyCIF) contributed RM4.09M fund to the platform in 2020, benefiting 8 startups to raise funds successfully and grow their business after the campaign.