Another business will list on a Malaysian equity crowdfunding platform soon, as momentum start to build within the new fundraising avenue. Separately, twice-funded startup Bemalas has expanded its offering beyond errands, into travel planning.
pitchIN’s first issuer KRU Academy to list next week
Malaysian equity crowdfunding (ECF) platform operator pitchIN will be listing its first issuer, KRU Academy Sdn Bhd on its platform next week, seeking to raise up to MYR3 million ($780,000) on the platform.
The issuer will start offering shares on pitchIN on April 27, to raise a targeted MYR1 million but will allow an oversubscription of up to 10 per cent equity for MYR3 million.
The creative industry academy is working towards becoming a leading private vocational college with aspirations to expand across Malaysia over the next few years. It also intends to become a regional player by 2025, a statement on Tuesday said.
Operational since 2012, KRU Academy’s revenue grew from MYR150,000 in financial year 2013 (FY2013) to MYR4.9 million in FY2015. By June 30, 2016 it projects a 66 per cent compounded annual growth rate since 2013, with a turnover of MYR6.9 million.
KRU is already a profitable business, and its fundraising through ECF is to bolster its expansion plans. The company projects net profit surpassing MYR10 million in FY2019, and a possible listing on Bursa Malaysia within the next five years.
KRU Academy chief executive officer Norman Abdul Halim said the academy, established in 2012, has grown its student count from 16 to about 500 today.
“Technical Vocational Education and Training (TVET) is gaining good momentum and response from students, parents, sponsors and funders. KRU Academy would like to play a strong role in TVET by diversifying our programmes and we believe it will continue to have strong demand from employers for TVET graduates as our country progresses to become a developed nation by 2020,” he said.
Bemalas launches travel offering
Malaysian startup Bemalas has expanded its ecommerce offering by adding the travel vertical into its mix, featuring a curated list of travel packages that covers hotel stays and tour options for its users.
“Travel is one of the most popular concierge request that Bemalas handles daily and the brand new travel vertical aims to make travel booking hassle free, immersive and highly customisable. (The travel site) allows customers to customise their travel plans by adding bespoke activities and experiences,” the startup said in a statement.
Bemalas is known as Belazee in the region.
Group chief executive officer Adlin Yusman said Bemalas’ goal is to provide customers with a platform that gets them anything they want.
“Building a travel vertical is in line with this vision. We will find you the best places to travel with just a few clicks. Best of all, your concierge is always at hand to serve you should you need something else for the trip, like a new luggage or a new pair of shoes,” he said.
The available packages covers destinations in Southeast Asia, local Malaysian destinations, Far East and Oceania regions. The Malaysia-based platform plans to expand its offering to all the markets it is operating in.
Presently, customers would have to book flight tickets separately but there are plans in place to provide flights as an option. Bemalas aims to offer more destinations in the coming months and expand its offering to all the other countries that it operates in.