Grocery platform raises RM6.18mil from ECF

No frills: A Baloy supermarket in Petaling Jaya. The company leverages the customer-to-manufacturer model to lower the cost on essential goods.

BALOY, an e-commerce platform made for grocery shopping with an online-to-offline (O2O) and consumer-to-market (C2M) business model, has raised more than RM6.18mil in one of the largest equity crowdfunding (ECF) campaigns in Malaysia.

Co-founder and chief executive officer Yen Chee Yung says the campaign also drew participation from investors abroad.