Kakitangan has exceeded its minimum target by 485 per cent
Equity crowdfunding operator pitchIN announced that Malaysian human resource management startup Kakitangan had raised MYR1 million (US$240,000) through its platform, making it the third campaign to have successfully reached their target in pitchIN after creative academy KRU Academy and delivery service RunningMan.
Kakitangan’s campaign was launched on the platform on Monday, September 26, with the minimum target of MYR200,000 (US$48,3000) and a maximum target of MYR1 million (US$240,000). The startup reached its maximum target of MYR1 million within just one day, as it also managed to exceed its minimum target by 485 per cent.
” … Kakitangan did so well because the pitchIN and Kakitangan teams worked hard in concert to bring the deal to the attention of investors. The deal was funded within hours because everyone worked very hard in the weeks leading to the campaign going live,” said pitchIN CEO Sam Shafie in a press statement.
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According to pitchIN, there was a great diversity in Kakitangan’s investors profile, with the youngest investor being 18-year-old and the oldest being 69-year-old. While the majority of the investors are Malaysian, the crowdfunding platform claimed that there are also some foreigners as well.
Kakitangan is a human resource management platform that offers services such as payroll, leave, employee database and benefits. In its profile, the company stated its target of reaching the Southeast Asian market in the next five years.
Apart from pitchIN, Kakitangan had also raised funding under the Angel Tax Incentive, an initiative approved by the Malaysian Government to encourage more early stage investments by the private sector. The incentive aims to reduce the risks commonly associated with early stage investments by giving back in the form of tax exemption to accredited angel investors.
e27 has reached out to Kakitangan for comments.
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