Equity crowdfunding operator reaches maximum target in 24 hours
PETALING JAYA: Human Resource (HR) platform Kakitangan.com has raised RM1mil via pitchIN, a registered equity crowdfunding operator.
Kakitangan.com had set out to raise a minimum of RM200,000, and within 24 hours after its campaign went live, it reached its maximum funding target of RM1mil.
pitchIN CEO Sam Shafie believes that this deal will convince investors and potential issuers that “equity crowdfunding is a viable and exciting way to raise funds”.
“Equity crowdfunding is progessing very well in Malaysia and pitchIN will continue to bring great deals like Kakitangan.com to investors.
“We are aiming to bring around five to eight more deals this year,” said Sam.
Beyond its impressive funding success, the Kakitangan.com equity crowdfunding campaign generated strong interest from a mix of investors.
With Kakitangan.com being very well known in the startup ecosystem, it was no surprise that quite a few prominent startup founders invested in the company.
At the same time, this was not just a deal dominated by tech-savvy investors as many regular investors also backed the campaign, lending proof that investors always know a good deal when they see one.
The deal was heavily shared on social media and investors came in fast as it became apparent that it was going to be funded within hours.
Kakitangan.com also comes under the Angel Tax Incentive, an intiative approved by the Government to encourage more early stage investments by the private sector.
This incentive hopes to reduce the risks usually associated with early stage investments by giving back in the form of tax exemption to accredited angel investors.
“Kakitangan.com is being used by thousands of small and medium enterprises and startups.
“The potential to become a leader in the HR software industry is apparent.
“One of the reasons why Kakitangan did so well is because the pitchIN and Kakitangan.com teams worked hard in concert to bring the deal to the attention of investors,” said Sam.
Kakitangan.com has become the third issuer to successfully raise funds from investors on the pitchIN platform.