Scholarship matching platform Skolafund closes RM300,498 capital raise

Skolafund founders Syamil (L) and Syakir (R).

SKOLAFUND.com, a social enterprise that is a digital platform designed to crowdsource alternative sources of tertiary education scholarship funds for students from low to middle-income families has closed a capital raise on Ata Plus Equity Crowdfunding (ECF)  platform that secured RM300,498 ($67,702) from 22 retail and sophisticated investors.

Their target fundraising amount was RM300,000 in exchange for 10 per cent equity stake. “The money raised from this equity crowdfunding campaign will go towards enhancing our scholarship crowdfunding platform, customer retention and working capital,” said Tengku Ahmad Syamil, the co-founder and CEO of Skolafund.

Skolafund provides a platform for students to request for funds, filtered on the basis of need, to campaign for funding. Skolafund filters and verifies the application; provide transparency of financial transactions and the students’ progress reports to the sponsors. The venture turned to Ata Plus after 12 months of unsuccessful discussions with more than 100 venture capitalists (VCs) and angel investors.

“The success of the Equity Crowdfunding exercise also means we have a variety of investors from the “Crowd” who care about the value proposition of our company. The seasoned or sophisticated investors have experience helping businesses succeed, and the retail investors are typically people who use and love our products,” added Syamil.

Skolafund was among the graduates from MaGIC’s Accelerator Programme (ASEAN) Cohort 01 and Startupbootcamp FinTech Singapore Accelerator Programme in 2015.

Ata Plus Sdn Bhd is an equity crowdfunding (ECF) online platform which matches businesses seeking growth and funding with investors interested in building sustainable world-class companies. It is one of the six licensed ECF operators approved by the Securities Commission Malaysia (SC) in June 2015.

The company functions as a platform for facilitating an efficient and innovative channel of fundraising to SMEs (small & medium enterprises) and startup ventures. According to the platform, it offers a pool of quality, high potential and legitimate deal flow to the investor community.

Commenting on the investment, Kyri Andreou, Co-Founder and Director of Ata Plus, explained: “SKOLAFUND’s ECF success proves that investors are looking beyond purely financial returns and augurs well for the Social Enterprise space. Globally, people and institutions are increasingly skewing towards more ethical investments and on companies who are creating impact and benefits beyond profitability.”

Also Read: 

Startupbootcamp Fintech announces Asian fintech finalists

Ata Plus launches equity crowdfunding platform in Malaysia

Malaysia: ECF players, Quest Ventures now co-investors with Cradle Fund

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.