Babydash is officially an equity crowdfunding (ECF) record breaker. The Malaysian online baby store has attracted 131 investors and raised RM1,574,400 million on the pitchIN Equity crowdfunding platform.
Equity crowdfunding offers investors the opportunity to invest in companies at an early stage in return for a direct equity stake in that company. pitchIN is approved by the Securities Commission to offer ECF services in Malaysia and in 9 months, it has successfully raised funds for 7 companies.
Babydash is an online store which focuses on selling baby daily necessities. They have a wide product range of everything a baby needs from diapers and milk, bath & skincare products, baby food, toys, strollers, car seats, baby carriers and lots more.
The Babydash ECF campaign ran over 45 days. It showed steady interest right from the start when it crossed its minimum funding target of RM200,000 in less than a week. The final ten days of the campaign saw frenzied interest with the final figure jumping to its record level on the final day.
Lavinie Thiruchelvam, Babydash CEO thanked all investors who have backed the company. “Tay Shan Li and I, the co-founders of Babydash, grew it from a startup to a RM2.5 million revenue company using our own funds. The funds that we have raised in this round will enable us to grow much faster. We are especially grateful that many of our regular customers have taken the opportunity to become our investors. They will now be able to profit from our future growth. We will do our very best to repay the trust of our investors.”
Sam Shafie, the CEO of pitchIN says this is another sign that the Malaysian equity crowdfunding industry is on a strong upward trend. “Time and again, pitchIN has proven that investors will come in for good deals. pitchIN has done 3 deals this far in 2017 and all have been well received by investors.” Sam added that, “pitchIN has become the leading ECF platform in Malaysia. The RM4,000,000 that we have successfully raised to date makes pitchIN the best performing ECF platform in Malaysia. pitchIN will not rest on its laurels and investors can look forward to more great deals coming up soon on pitchIN Equity.”