Bidnow raises US$ 1.3 mil from 470 investors through second-round ECF on Mystartr

Bidnow.my, the Malaysian Largest Auction Technology platform, recently completed its second-round funding exercise from MyStartr platform, a licensed Crowdfunding Recognized Market Operators by Securities Commission Malaysia.

Supported by 470 investors, which sets the highest record of MyStartr, Bidnow.my successfully raised US$ 1.3 mil (RM 5,517,099) in less than 2 weeks, exceeding its maximum target amount of RM 5.5 mil.

Bidnow.my serves as a platform for public to access all public auction property listings in Malaysia. Its first equity-based crowdfunding (ECF) project was also facilitated by MyStartr, which was held last year, from 12th December 2020 to 21st December 2020.

A total of RM 2.1 mil was raised from 384 shareholders, at the same time, awarded the Malaysia Books of Record ‘Highest Investment Amount Received for an Equity Crowdfunding in a day’.

Commenting on the funding achievement, MyStartr’s Founder and CEO, Goh Boon Peng said, “Congratulations to Bidnow.my! We are very honoured to assist the team at every step of the fundraising process to achieve success.

“In fact, there are many Malaysian companies with very innovative business models, just like Bidnow.my. We are optimistic that they can expand their businesses internationally,” he said.

Meanwhile, the Founder and CEO of Bidnow.my, Frankie Goh Chee Keong said, “With the increase of users in Bidnow.my, currently there are getting more property agencies, and product vendors intend to list their products in Bidnow for bidding.

“We believe through the strategy cooperation with these parties, Bidnow will have more variety of products to attract more customers from different interest to visit Bidnow.my to look for valued buy items, therefore we are expecting the active members to grow tremendously in year 2022,” he said.

-NIAGATIMES

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