Baloy Raises RM6.18 Million In One Of The Largest Equity Crowdfunding Raise In Malaysia

KUALA LUMPUR, Oct 21 (Bernama) — Baloy, an e-commerce platform made for grocery shopping with a unique Online-to-Offline (O2O)/Consumer-to-Market (C2M) business model, has raised more than RM6.18 million in one of the largest equity crowdfunding (ECF) campaign raises in Malaysia. Since its launch on 2 July 2021 on the Ethis Malaysia platform, the campaign garnered investments from around the world including Singapore, Malaysia, China, Palestine, Saudi Arabia, Jordan, Pakistan, India, South Africa, Mauritius, France, and the United Kingdom.
Yen Chee Yung, the Co-Founder and CEO of Baloy says, “Our ECF campaign with Ethis Malaysia has successfully raised one of the largest ECF raises in Malaysia, with the participation of not only local but also global investors hailing from close to 20 countries. This is our effort towards capturing FDI for Malaysia in a small but meaningful way. Baloy is indeed pleased to have raised the capital required to grow our business to the next level. The segment of the market that we are targeting, the B40 now the B50, was hardest hit by the pandemic but it remains resilient and requires an innovative approach to ensure that the needs of this group are met.”


Related Articles