Singapore-based private investment platform Fundnel has formally expanded to Malaysia.

Its launch was officiated by Mr Norhizam Abdul Kadir, Vice President, Growth Ecosystem Development of Malaysia Digital Economy Corporation (MDEC) at a private event in the city centre last week.

The announcement follows Fundnel’s appointment as a Recognised Market Operator by the Securities Commission Malaysia (SC) – the first approval SC has granted in almost two years.

Fundnel Malaysia will provide a comprehensive suite of capital raising services, targeted at local unlisted growth companies that form the backbone of the economy. This will include SMEs from local cafés and retail stores to larger companies in the fields of education and wellness.

This is in line with two of the new pillars championed by the government in the mid-term review of the 11th Malaysia Plan, namely ‘Enhancing Inclusive Development and Wellbeing’ and ‘Strengthening Economic Growth’.

The fintech company adopts a technology and data driven approach to connect quality businesses with growth capital, in tandem with the Malaysian government’s effort in promoting the use of technology to drive financial inclusion and equitable opportunity for the rakyat.

Fundnel offers a modern capital raising solution that is cost and time efficient. Applications on Fundnel has the potential to reach a global network of over 10,000 investors and partners whereupon multiple investment offers will be made.

By virtue of being an online platform, price discovery is granted to the fundraiser who then has the flexibility to compare these offers that may best suit their stage of growth or other strategic requirements. This unique element is a key differentiator that sets Fundnel apart from traditional financing options.

Fundnel’s launch in Malaysia comes at timely moment as the government advocates a shift towards high value-added activities, particularly in knowledge-intensive industries. This covers digital transformation of the economy by tapping on the potential of big data and fintech.

“The global economy is increasingly being shaped by SMEs, who often face challenges obtaining growth capital,” said Kelvin Lee, CEO and co-founder of Fundnel. “Crossing the borders is a big stride towards our goal of creating access to capital for everyday companies. We believe that funding good-quality private businesses will create more jobs in Malaysia and in turn spur economic growth. Our team is excited to commence work and make a difference to the local market.”

“Fundnel’s entry into Malaysia is a testament to the country’s attractiveness as an investment destination and we are excited to welcome the region’s largest private investment platform into our market,” said Norhizam.

“As a government agency, MDEC works closely with industry players, regulators, start-ups, and accelerators in nurturing the nation’s Fintech ecosystem. We look forward to partner up with Fundnel and other investment platforms to create a more vibrant environment and benefit businesses in Malaysia.”

MisterTyre, a homegrown pioneer in on-demand mobile car care services, will be one of the first companies to be launched on Fundnel Malaysia.

The Klang Valley-based start-up plans to use proceeds from this round of fundraising to launch its affiliate program across Malaysia and to initiate licensing of its Software as a Service (SAAS) automotive solution in the United States.

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