SWC Enterprise, Listed on FundedByMe, Aims to Break Crowdfunding Record in Malaysia

SWC Enterprise, said to be the fastest growing houseware retail store in Malaysia, recently launched an equity crowdfunding offer on Fundedbyme. The campaign has successfully raise 281% from its minimum target of MYR 1,002,728 (about USD $238,858), the total amount has been achieved MYR 2,847,146 (about USD $ 678,214) from 77 investors over 5 countries, Brunei, Malaysia, Finland, the Netherlands and Sweden, ranging from local retail investors to overseas sophisticated investors. The campaign is described as receiving enthusiastic response from global investors and is aiming to break the equity crowdfunding record in Malaysia.

SWC Enterprise, founded in 2008 by Simon Heng, is a rapidly growing and low-priced houseware chain store in Malaysia that focuses on the middle-income mass market offering household products, kitchen ware and hardware. The company has expanded to 23 stores in 3 states with its ‘More variety at lower price!’ concept. SWC reports an impressive 46% yearly store growth rate.

For the minimum funded amount of MYR 1,002,728, SWC will offer 2.78% of the company’s equity and for the maximum funded amount of MYR 2,998,256 they are offering 7.88% of the company to investors. SWC has MYR 35,040,000 (about USD $ 8.35 million) pre-money valuation. The price per unit share is MYR 146.00 (USD $ 35) and minimum investment amount is MYR 4,964 (USD $ 1182)

FundedByMe reports that SWC Enterprise already profitable, but the company is seeking funds to transform the business from offline to online, expand into neighboring states and to become the market leader as a houseware retail store in suburban locations across Selangor.

Funds from the campaign on Fundedbyme will be used for the following:

  • Build an E-Commerce platform with home delivery service launching in year 2017
  • Launch of SWC mobile app
  • Roll out debit/credit card terminals across all SWC outlets
  • Open 10 new outlets within Selangor by 2020
  • Launch a fresh market in addition to its kitchenware products in 2017/2018

According to SWC founder, Simon Heng, “We aim to achieve sales target of 45 million by year 2018 and gain triple current revenue by 2022.”

The offer on FundedByMe is scheduled to close by 22 September 2017. FundedByMe is one of six investment crowdfunding platforms approved by the Securities Commission Malaysia (SC).

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