The funds will also be used for launching new innovations focused on helping organisations increase their social impact through technology, Mavcap said, in a statement on Tuesday.
SimplyGiving.com is an e-commerce startup to help non-profits and social enterprises engage with supporters online.
The Malaysian government-supported venture capital firm, formed to champion ICT companies, has been at the centre of a growing investment ecosystem in the region.
Mavcap chief executive officer Jamaludin Bujang said, the firm’s investments have started to create a positive impact on the local young technology companies.
“Through our direct investments and funds that we are involved with, we are seeing some great things starting to happen and we are always interested in companies that make a positive contribution via technology,” he said, in the statement.
On the investment, Bujang said, SimplyGiving.com’s platform has already empowered nearly 30,000 people to support their favourite social causes via online donations.
“The business model is strong, and we believe they have the right team, with the right technology, to make a big difference,” he commented.
SimplyGiving.com chief executive officer Kristofer Rogers said, the startup was looking for partners that will bring more than just money to the table.
“(We were looking for partners) who can help us with mentoring and advice. I know there is a genuine interest from Mavcap to help us achieve our mission – to not only grow our business but to achieve a greater social impact at the same time,” he said.
Citing Massolution’s CF2015 Industry Report, the crowdfunding market is set to reach $34.4 billion globally in 2015, more than doubling from the previous year.
Rogers added that crowdfunding is one of the fastest-growing tech trends in Asia.
“It is now the second largest crowdfunding region by volume, second only to the United States. In 2014, the Asian crowdfunding sector raised more than $3.4 billion. We believe that crowdfunding will dramatically change the way in which social enterprises and non-profits across Asia are funded. Social crowdfunding is a very transparent and effective way to support causes, and ultimately improve their outcomes,” he said.
SimplyGiving is headquartered in Kuala Lumpur, with offices in Singapore and Hong Kong. It provides mobile-optimised donation and fundraising tools for over 450 non-profit partners and social enterprises on board in 20 countries across Asia.