Malaysia: Platform to book cleaners MaidEasy raises Series A from Intres Capital

Malaysia-based cleaning service booking platform MaidEasy.

Malaysia-based home cleaning service facilitator MaidEasy has raised a Series A in the single-digit million range (in Malaysian Ringgit) from Intres Capital, according to an executive close to the deal.

Another person familiar with the development said the funding would be used by the startup to increase the rollout of its services.

The person added that although the funding was not a huge amount, it would sufficiently drive MaidEasy’s growth as the business is not capital intensive.

The Kuala Lumpur-based startup offers a simple-to-use platform for homeowners to book cleaners under 60 seconds. The company does not employ cleaners, but connects them to homeowners when a cleaning request is matched. Its rates start from MYR20 per hour.

Intres Capital is the venture firm set up under a partnership among Malaysia Venture Capital Management Bhd (MAVCAP), QuestMark Capital Management Sdn Bhd, and Teak Capital Sdn Bhd.

The fund the firm invests from is the Axiata Digital Innovation Fund (ADIF), a technology venture fund formed by telecommunications group Axiata Bhd, in collaboration with MAVCAP.

The MYR100 million ($23.27 million) fund was launched in November 2014.

The executive noted that Intres Capital was making preparations to announce its first deals, but did not specify how many deals have been secured or are in negotiations so far.

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