Asian Crowdfunder launched its Malaysian platform with three projects, while also indicating the platform is in the process of starting in Singapore, Indonesia and Thailand, according to Digital News Asia. Cofounded by Frank Holle of Quant Asset Management Pte Ltd, Graham Paling of Mongoose Publishing and Kenneth Kolb of Hot Can, the platforms describes itself as a pan-Asian, equity-based crowdfunding platform, “founded by investors, for investors,” accessible to vetted and accredited investors only.
The announcement came on June 11, the same day that Securities Commission Malaysia (SC) announced the approval of six registered equity crowdfunding (ECF) platforms: Alix Global, Ata Plus, Crowdonomic, Eureeca, pitchIN and Propellar Crowd+. Asian Crowdfunder said its goal is to provide accredited investors from across the world access to Asia’s growth opportunities at an early stage, and provide Asian entrepreneurs with capital and knowledge to take their ideas and businesses to the next level, according to the post.
“I have been in the business of investment for over 25 years and I have seen many financial revolutions, but this by far is the biggest,” Holle told Digital News Asia. “Equity crowdfunding is changing the way small businesses raise money. With the Government realising its importance and setting regulations, Malaysian business now have an even better chance of tapping global investment markets…Asean represents more than 9% of the world’s population and also represents great business opportunities. We will connect accredited global investors to business opportunities in the fast growing economies of Asean.””
Asian Crowdfunder enables accredited and sophisticated investors to invest in companies raising funds on the Asian Crowdfunder platform and gain equity in the company invested in – unlike rewards-based crowdfunding, where investors only receive a reward or a product when they invest. To register on AsianCrowdfunder.com, investors must do the usual, fill out a form and take a self-certification test to determine whether they are accredited investors or high net worth individuals or entities. After activating an account, the user may view the investment opportunities and either proceed to invest or set up their own pitches. Thorough due diligence will be conducted on each business that wants to pitch and the investors who invest in the businesses, according to Asian Crowdfunder.
Current pitches on the platform include Sid’s Pubs, headed by Geoff Siddle and targeting US$275,000 in investments, which is looking to grow from six outlets to 40 neighbourhood-style pubs serving British pub grub and drinks in a welcoming and friendly atmosphere. The second is Fire Fitness, headed by Dave Nuku and Mike Lamb who aim to transform the way fitness is approached in Malaysia with the US$125,000 funds sought. Fire Fitness aims to be the first chain of aggregated fitness studios providing personalised fitness classes and proprietary fitness products. Lastly, Impulse Studio aims to crowdfund US$225,000. Using German-developed EMS (electrical muscle stimulation) technology to help people achieve their fitness goals, Impulse Studio is the exclusive equipment distributor of XBody in South-East Asia. To date the campaigns have raised $20k, $10K and $15K respectively.