Malaysia: Alix Global’s first ECF deal, Halal Speed Dating seeks $87k on FundedByMe platform

Halal Speed Dating CEO, co-founder Zuhri Yuhyi at one of the matchmaking events.

Alix Global, in partnership with Swedish crowdfunding platform FundedByMe, has listed its first equity crowdfunding (ECF) issuer – Halal Speed Dating on the platform, seeking to raise up to MYR350,000 ($87,055) for its mobile app development.

Alix Global is among the six licensees approved by the Securities Commission Malaysia for ECF in Malaysia.

Halal Speed Dating organises the world’s first halal matchmaking events, and now seeks to expand its offering online, developing the first Islamic dating platform on a mobile app.

The company operating Halal Speed Dating, Give & Gain Sdn Bhd, is issuing 5.5 per cent of the enlarged issue shares to raise a minimum of MYR200,000 ($49,745). The fundraising exercise allows oversubscription of up to 9.04 per cent to raise a maximum of MYR350,000.

At the time of reporting, the fundraising campaign was 51 per cent funded. Halal Speed Dating’s ECF campaign went live on Wednesday.

According to its listing on FundedByMe’s platform, the funds will be utilised over 18 months, to work on scaling Halal Speed Dating’s business.

It plans to use MYR35,000 for its mobile app initiatives this year, and another MYR60,000 in 2017. The company will allocate MYR153.760 for direct labour.

Sophisticated investors can invest a minimum of 142 units at MYR4,970 or any multiple of which to a maximum of 5,822 units equivalent to 41 blocks at MYR203,770. Retail investors are only allowed to invest in one block or 142 shares at MYR4,970.

The exit strategy listed included potential divesting on a secondary trading market or when Give & Gain goes for a merger and acquisition exercise.

Halal Speed Dating is established by psychologist Zuhri Yuhyi, who started his career dealing with financial products. Yuhyi has previously joined a family business in advertising, and then an non-governmental organisation called Mercy Mission delving into community service.

Also read:

Alix Global partners Sweden-based FundedByMe for equity crowd funding ops in Malaysia

Malaysia’s Securities Commission allows 6 players to launch equity crowdfunding services

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.