Fundaztic and pitchIN to enhance alternative funding ecosystem  

KUALA LUMPUR, Oct 11 (Bernama) – Fundaztic and pitchIN, two crowdfunding platforms that are regulated as Recognised Market Operators (RMO) by the Securities Commission, are forming an alliance with the aim of boosting awareness, trust, and acceptance in the industry besides offering exciting fundable deals to investors.

The alliance will see Fundaztic, the peer-to-peer financing market leader in terms of number of SMEs, raise funds via pitchIN, the market leader in equity crowdfunding (ECF).

In a statement today, chief executive officer (CEO) of Peoplender Sdn Bhd, the company that owns and manages Fundaztic, Kristine Ng said: “We are confident that the three million shares - the maximum allowed under the ECF guidelines - that will be made available through equity crowdfunding will receive overwhelming response as preliminary indication of interest is already nearing 11 million.

“This tremendous interest is testimonial of trust towards the performance of Fundaztic currently and projections for the future. We take this as motivation to spur growth and host even more Notes each week to underserved but viable SMEs.”

Meanwhile, Pitch Platforms Sdn Bhd’s CEO, Sam Shafie, said: “Based on our experience and our record of 100 per cent success rate, we are optimistic that the three million shares will be snapped up within a short span of perhaps between one and two hours.

“Fundaztic has already established proven track records in terms of earnings growth as well as growth in their member base and Notes hosted each week. PitchIN is very selective in the campaigns that we choose to host and this is why the 22 campaigns that have gone live have all managed to raise the funding required and are all growing their businesses as projected.

“We are very pleased to form this alliance with Peoplender, as it has disbursed approximately RM28 million to over 300 SMEs to date with a default rate of only about 1.3 percent, and we are happy that they have chosen to raise funds using ECF and pitchIN in specific because it provides a strong synergistic effect for the entire alternative funding ecosystem.”

Members and investors of both Fundaztic and pitchIN are required to register on both Fundaztic and pitchIN and can indicate to both platforms their interest during the pre-marketing stage and begin investing when the campaign is activated by pitchIN, effective Oct 17, 2018.   

-- BERNAMA