“I was attracted to the MNP Auctioneers business because it will bring new opportunities to South East Asia as evidenced by the success of Christie’s and Sotheby’s for this industry,” Dato Wei Chuan Beng commented. “I think ECF provides value to MNP as it opens the opportunity to connect with investors seeking to invest in local start-ups and SMEs.”
MNP Auctioneers (MNP), an E-LIVE Auction Solution provider which is adopted by the Bank Negara Malaysia in its Malaysian Banknotes auction, announced that it had surpassed 85% of its base equity crowdfunding fundraising target — over RM 259,900 –on Crowdo in less than one month since its offer launch. A recent boost in fundraising came with the investment by angel investor Dato Wei, who notably founded Bursa-listed REDtone Group.
“This is a great example of ECF acting as a platform to connect Malaysia entrepreneurs of different generations to support each other. Dato Wei founded REDtone group 21 years ago, which is now listed on the Bursa Malaysia, and is helping a newer generation of entrepreneurs like MNP through ECF,” commented Crowdo CEO Leo Shimada. “MNP now has the benefit of counting an experienced Malaysia entrepreneur as one of his prospective shareholders.”
MNP is raising financing on Crowdo’s ECF platform to develop its E-LIVE bidding platform, best2bid.com. MNP will continue its fundraising for another month, until 23 April 2017 aiming to achieve its maximum target of 2 million RM.
“With already 80% of the fundraising target achieved, we are confident that we will hit our target and use these funds to build our business,” MNP CEO Stephen Soon added. “We are further encouraged by the participation by Dato Wei which allows us to access the experience of an accomplished entrepreneur and shows that Equity Crowdfunding can be the source of smart capital.”
MNP promotes the sale and disposal of any movable or immovable asset by way of competitive bidding by providing a one-stop shop solution for all auction related services, from pre-sales to marketing, aiming to establish market value and achieve high returns via auction.
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