Sweden-based FundedByMe, a successful crowdfunding service in the Nordic countries has established a partnership in Singapore to drive the Asian market, and drives the introduction of Equity Crowdfunding (ECF).
In Malaysia the crowdfunding service earlier in 2015 entered into a joint venture with Alix Global, one of the six licensed operators approved by the Securities Commission Malaysia back in June 2015 to be to engage in ECF.
Alix Global is a NEO marketing solution provider with a mission to digitise the marketing strategies of Malaysian SMEs. Currently it has a leading position in mobile digital marketing.
Alix Global will be offering its ECF services using FundedByMe’s already established global platform that already has over 58,000 users, has raised more than 18m$ for hundreds of companies. Both companies will jointly operate the platform in Malaysia.
Malaysia has become the first market in Asean to have legislated ECF, ahead of Singapore.
The interest in ECF within the region has also grown tremendously over the past few months since the Securities Commission Malaysia announced the legislation and selected operators. Alix Global Executive Director, Daniel Goettfert, said the team targets to have the platform go live in the beginning of December.
“FundedByMe has a great track record in operating its crowdfunding platform and through this JV, we will have their expertise to learn from and leverage on in offering ECF to Malaysian companies,” he said at the announcement of the partnership.
Angelld Quah, founder and Chief Executive Officer of Alix Global said: “With FundedByMe we will have a proven platform to launch with, rather than starting out building a platform from scratch.”
FundedByMe Malaysia has also announced an important partnership with Rave Accelerator. The partnership is vital in deal flow and co-investment opportunities and is a proven model of finding the right cases for the right audience. Research performed by the platform shows more than 34% increase in funding chance if the deal is pre-vetted by a trustworthy partner. CEO Rizal Alwani and Daniel Goettfert from Alix Global has agreed upon the partnership with the purpose of together helping more companies bridge the critical funding periods in the start-up cycles.
FundedByMe founder and CEO and co-founder, Daniel Daboczy added that the JV allows the group to expand its footing in Asia.
“With more awareness and interest in crowdfunding and ECF in Malaysia and the region, it is time we also look to build our brand as the go-to platform among Southeast Asian businesses. Starting companies has never been as easy as now in 2015 but funding them and grow them is still a major problem for many, and at the same time investors from all over the world complain over lack of deal flow. FundedByMe has more than 58,000 global investor members and the average investment is 6,000$ and thus we believe that our global investor pool will make a huge difference in funding and Malaysian and Asian companies,” says Daboczy.
For 2016, the global crowdfunding market is projected to double to US$34billion and FundedByMe expects a big growth in Asia. The three main phenomena in Asia-Pacific that abode well for the future of crowdfunding are social and mobile-savvy citizens, economics of e-commerce and e-finance, and innovations in reducing the unbanked rate.
About Alix Global Founded in 2013 in Penang, Alix Global currently has a leading position in mobile digital marketing. Since its inception, it has organised over 100 NEO marketing related workshops and classes, and reached out to more than 300 SMEs and 3,000 individual participants. It began exploring Equity Crowdfunding (ECF) in 2015, when the Securities Commission Malaysia invited submissions from interested ECF platform operators to jumpstart the ECF industry in the Malaysian market. Alix Global is now among the first few registered ECF operators in Malaysia, licensed by the Security Commission and regulated under Section 34 of the Capital Markets Services Act.
FundedByMe is a leading international player in crowdfunding through equity, loan or reward. Headquartered in Stockholm, Sweden the company has successfully funded 423 companies from 25 countries on its platform. It has presence throughout Europe and in Singapore. FundedByMe is one of the only full-service crowdfunding platforms, offering capital through equity, loan and reward based crowdfunding.
Read also: Invest with me! Equity crowdfunding is here!
