Singaporean Fintech Fundal Becomes 7th ECF Platform Approved in Malaysia

Singapore-based equity crowdfunding Fundnel has expanded to Malaysia. The announcement follows the Fund's position as a Recognized Market Operator by the Malaysian Securities Commission.

Fundal Malaysia aims to provide a comprehensive suite of capital raising services, targeted at local unlisted growth companies that form the backbone of the economy.

This will be included in the business of the mom and pop shops and in the fields of education and wellness. The company claims to adopt a technology and data driven approach

"The global economy is being shaped by SMEs," 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 jobs and turn spur economic growth. As a new minted operator, we are excited to start work and make a difference to the local market. "

"Fundamentals of entry into Malaysia is a testament to the country's attractiveness as an investment destination," said Norhizam Abdul Kadir, Vice President of Growth Ecosystem Development of Malaysia's Digital Economy Corporation ( MEDT).

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 partnering with Malaysia and other countries in Malaysia. "

MisterTyre, a homegrown on-demand mobile car care services, will be launched on Fundal Malaysia. The Klang Valley-based start-up to start up its affiliate program to promote Saas automotive solutions in the United States.

As of June 2018, the Recognized Market Operators authored by the SC have collectively raised a total of RM118 million in capital for more than 300 micro, small, and medium enterprises, demonstrating the potential of alternative financing platforms. There are currently 6 P2P lending players and 7 ECF players including Fundamental's inclusion currently approved by the regulator.

In anticipation of its launch, Midana Capital, Fundal has forged a strategic partnership with local investment firm. Both Fundal and Midana Capital will assist each other in their dealings with the common ambition of supporting Malaysian companies.

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