LOCAL software developer Sagtec Group Sdn Bhd aims to raise RM3mil via its equity crowdfunding (ECF) campaign to expand its reach among small-scale F&B and retail businesses.
The campaign on Ata Plus offers investors a 15% stake in the company.
Although there are already plenty of point-of-sales (POS) providers in the market, founder and managing director Kevin Ng believes there is room for the company to flex its muscles among smaller players in selected sectors.
“Just in Malaysia itself, through our internal research, we found that more than 58% of the open market are in the F&B and retail sectors, which is well within Sagtec’s target market. This inspires us to continue building on our competencies for more robust technologies and solutions.
“Even with the setback of an ongoing global pandemic, Sagtec has been fortunate enough to experience consistent growth and high sales volume throughout the months of the country’s lockdown period, ” he says.
The company is looking to enable humbler business owners such as food truck operators, food stall operators, cafe owners and even new entry players in the F&B and retail market with affordable and simplified POS systems that are equally advanced, elegant and efficient.
It introduced its own branded total solutions software Speed+, an advanced ordering system that is affordable and accessible for small to medium business owners.
The company also adopts competitive pricing as its business strategy to compete with brands that retail at a much higher cost.
Speed+ currently has more than 500 subscribers through its software-as-a-service (SAAS) packages.
“No matter how small a business may be, we just want to promote total confidence and peace of mind with easy and accurate ordering, full reporting features, zero-risk calculations and much lower resource cost.
“We also developed Speed+ as a cloud-based software because it allows users to fully manage their businesses anywhere and anytime, ” says Ng.
The company hit revenue of RM1.37mil in 2019 and sales reached above RM800,000 as at third quarter this year.
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