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.

Also read:

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Malaysia’s Mavcap partners China’s Gobi for $50m fund, focuses on SEA, China

Malaysia: Mavcap invests $690k in social crowdfunding platform SimplyGiving.com

Exclusive: Teak Capital unlikely to go for another IPO, leaning towards trade sales

There is a gap in Series A to C funding: MVCA

 

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.