Malaysia: HR startup Kakitangan raises $240K via crowdfunding platform pitchIN

Malaysian human resource platform startup Kakitangan.com has raised $240,000 in just one day through equity crowdfunding platform pitchIN. The funds will be used by the startup for improving customer and product experience and increase its user base.

The campaign, which went live on September 26, is the third such fundraising through pitchIN which has reached its target. The first two were creative academy KRU Academy and delivery service RunningMan.

“Kakitangan had set out to raise a minimum of $48,328 with the maximum set at $241,660. By hitting its target within hours, Kakitangan.com was funded a whopping 485% above its minimum target,” pitchIN said, in a press statement.

Kakitangan.com is an HR platform that offers services such as payroll, leave, employee database and benefits. It targets the South East Asia market in the next five years.

Kakitangan.com equity crowdfunding campaign has generated strong interest from a cross-section of investors with the deal being heavily shared on social media.

The investors formed a very interesting mix with the youngest being 18 year old who was encouraged to invest by his father to learn the value and potential of long term investing. Meanwhile, the oldest investor in Kakitangan.com is 69 years old, proving that older investors are equally interested in equity crowdfunding, the statement said.

While most investors were Malaysians, there were some foreign investors also participating in the deal.

Kakitangan.com is also an investee company under the Angel Tax Incentive, an initiative approved by the Malaysian government to encourage more early stage investments by the private sector. This incentive hopes to reduce the risks usually associated with early stage investments by giving back in the form of tax exemption to accredited angel investors.

“Kakitangan.com is a wonderful business story. It is being used by thousands of SMEs and startups. The potential to become a leader in the HR software industry is apparent. Furthermore, the team behind Kakitangan.com, led by Effon Khoo is very strong,” said CEO of pitchIN Sam Shafie.

He further added that equity crowdfunding is progressing well in Malaysia and pitchIN is aiming to bring around 5 to 8 more deals this year.

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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.