According to CEO Kristine Ng, Fundaztic intends to become a public-listed company in the near future

Fundaztic, an online marketplace for P2P financing, has announced that it will be raising RM3 million (approximately US$722,000) via pitchIN, an equity crowdfunding (ECF) platform, says a report by Fintech Malaysia.

The campaign will be launched on October 17, 2018.

The money will be used to grow Fundaztic’s team in order to increase penetration in the SME markets, while maintaining the quality of notes raised. A portion of the funds will also go into developing its own secondary market to allow for investors to trade notes before its maturity to enable them to cash out earlier if needed.

According to its CEO Kristine Ng, Fundaztic also intends to become a public-listed company in the near future.

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Talking about the fundraising plans, Ng commented that while the company could’ve secured funding through VCs and PEs, it opted for ECF to allow the common public to participate in in its growth journey. She also says by involving customers in its journey will convert them into brand advocates.

Owned and operated by Peoplender Sdn Bhd (a Securities Commission-licenced company), Fundaztic aims to leverage technology to enhance access to both financing and investment for businesses and individuals with low entry barriers. The platform enables issuers to access easy financing through a simple online application process, while investors  are able to provide funds to multiple Investment Notes in exchange for attractive returns of investments.

In June this year, Fundaztic entered into a collaborative agreement with OCBC Bank to enhance access to financing for micro, small and new businesses.

Launched in 2012, pitchIN has facilitated fundraising of over 14 companies including SalesCandy, MyCash Online, and Babydash

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