Cradle Fund, KK Fund co-invest $500k in Malaysia based Bemalas

The trio behind Be Malas, from left to right: Suthenesh Sugumaran, Adlin Yusman, and Puvanendren M Maniam.

Cradle Fund and its co-investment partner, KK Fund have announced that they will be injecting $500,000 (around MYR1.9 million) into the Malaysian-based startup Be Malas.

In a statement, Cradle noted that another angel investor who wishes not be be identified, was also involved in this round of funding.

This is the second equity co-investment deal, which Cradle and its partners have locked, following the ones in MauKerja.my and Sync Media with OSK Ventures International Bhd last May.

The concierge service portal, Be Malas (or Be Lazee) is run by Pacific Founders Sdn Bhd, headed by three co-founders – Adlin Yusman, Suthenesh Sugumaran and Puvanendren M Maniam.

The service provides an SMS-based concierge service to its clients in Klang Valley and some limited areas outside through a highly trained team of concierges called Rajin Runners.

Be Malas helps customers with their requests from household affairs to company business matters all through SMS exchanges, provided that the request is not against the law.

Clients must agree to the end price for every service performed, which includes a base fee of MYR25 before they get the Rajin Runners to run the errands for them.

Adlin regards receiving funds from the angel investor and co-investment partners, CFSB and KK Fund as a huge vote of confidence in Be Malas’ ability to execute the business plan.

“The funds will be spent primarily on technology for both front-end (customer-facing) and back-end which includes load management and last mile fulfilment as well as hiring the best talents to help us scale the business regionally,” he said.

Yusman also said that its regional brand Be Lazee, which was launched in Singapore on June 10, 2015, is already gaining traction in the city state and the team is looking forward to launching the same brand in Hong Kong before the end of the third quarter of 2015.

Be Malas currently operates in Malaysia and Singapore.

Also read: VC KK Fund invests extensively in Malaysia: Report

Cradle Fund doubles co-investment value with 5 new partners, raises $16m

KK Fund, Kickstart Ventures invest in LoanSolutions, to advance its fintech business in PH

Cradle’s support will give co-investors better visibility of local startups

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.