pitchIN’s, and Malaysia’s, first ever Token Crowdfunding (TCF) campaign has surpassed its minimum target of RM5 million to reach RM10 million with 469 investors. This marks the first ever successful public Token Crowdfunding campaign run under the Initial Exchange Offering (IEO) guidelines issued by the Securities Commission.

This successful campaign was run by BidNow via pitchIN, a Registered Market Operator with the Securities Commission. BidNow is an auction platform based in Malaysia that allows its users to auction and bid on various products like home appliances, gadgets, luxury items and real estate. Since 2019, there have been over 20,000 active users and more than 8,000 real estate brokers signed up. 

CEO of BidNow, Frankie Goh, expresses “We are incredibly honored to be the first successful public Token Crowdfunding campaign in Malaysia, surpassing our minimum target and reaching RM10 million. This achievement is a testament to the trust and confidence our investors have placed in us. We chose Token Crowdfunding because we believe in the transformative power of

blockchain technology, and this marks a significant milestone in our journey. With this support, we're excited to expand our operations into Singapore and integrate blockchain into our platform to enhance efficiency, transparency, and security. Thank you to all our investors for believing in our vision and joining us on this groundbreaking journey.” 

pitchIN is a Digital Fundraising and Investment Hub registered as a Recognized Market Operator (RMO) with the Securities Commission Malaysia to operate both Equity Crowdfunding (ECF) and Token Crowdfunding (TCF) platforms. 

pitchIN’s Head of TCF, Nicholas Chong highlights “We are incredibly proud to host the country’s first regulated public token offering. BidNow’s success in raising RM10 million from TCF within 8 weeks signals tremendous demand and opportunity for regulated token offerings in Malaysia. As one of the few fully regulated token launchpads in the world, pitchIN is well positioned to bridge traditional investors and companies into Web3 investment and fundraising. For investors that have missed the first TCF deal, we have two to three exciting deals in the pipeline that we expect to launch this year after they are reviewed by the SC.” 

pitchIN’s CEO, Sam Shafie adds ”We’re delighted for BidNow. We hope that their success will pave the way for others to follow suit. With the first campaign under our belt, we’re confident of assisting other companies who would like to consider TCF as a viable option for their fundraising to fuel growth for their companies ” 

This landmark achievement not only sets a new benchmark for the crowdfunding industry in Malaysia but also reflects the growing confidence in token-based fundraising models. It is a testament to the market's readiness to embrace innovative financial technologies. pitchIN believes that as more businesses explore blockchain and tokenization, the landscape of capital raising will continue to evolve, offering diversified opportunities for both investors and entrepreneurs. 

For more information, please visit pitchin.my/token

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