Crowdfunding has become an increasingly popular way of raising funds for projects or businesses in Malaysia. In my last crowdfunding post, we looked at the top 10 most funded Kickstarter projects from Malaysia.

We were able to discover that some Malaysian creators have not just one, but a couple of six figure projects from Kickstarter alone.

This time, we're coming back to Malaysia to look at the biggest crowdfunding platform here, Pitchin.my.

Launched in 2012, Pitchin is the leading crowdfunding platform in Malaysia, taking up 57% of Malaysia's equity crowdfunding market share in 2018.

Thanks to Pitchin, a lot of pretty interesting projects have been funded and brought to life. 

In this article, we'll take a look at 10 of the most funded projects on Pitchin (5 each from equity crowdfunding and rewards crowdfunding). What are the projects about and how much did they raise?

If you've been thinking of raising money for your project or business using Pitchin, I hope this will give you an idea of the types of projects that might have a better chance of gaining success. 

Let's get to them!

Get to Know: Types of Crowdfunded Projects on Pitchin.my

There are two types of crowdfunding projects on Pitchin:

  1. Rewards crowdfunding
  2. Equity crowdfunding

What’s the difference?

Rewards crowdfunding is where you get a reward or product for supporting a project. This is how crowdfunding sites like Kickstarter works.

Equity crowdfunding, on the other hand, is where you get a percentage ownership of the company for investing.

Top 5 Most-funded Equity Crowdfunding Projects on Pitchin.my

Pitchin's equity crowdfunding projects have been its most popular, with the most popular projects raising a cool 7 figures each.

Let's take a look at the top five projects that raised the most amount of money on Pitchin's Equity Crowdfunding platform:

1. Speedrent (RM2,500,000 raised)

Stats

Amount Raised

RM2,500,000

% Equity offered

7.86%

% Raised from minimum target

832.5%

No. of investors

206

Pitchin.my page

Current website

Speedrent started off as a platform to help landlords find quality tenants, provide rental protection as well as collect rent on their behalf.

Founded by Wong Whei Meng in 2015, Speedrent has since expanded to include buying and selling properties since raising money on Pitchin. Befitting to its new scope of service, Speedrent has now rebranded to become Speedhome.

2. Babydash (RM2,500,000 raised)

Stats

Amount Raised

RM2,500,000

% Equity offered

20%

% Raised from minimum target

1,250%

No. of investors

133

Pitchin.my page

Current website

Babydash.com.my

Babydash is a Malaysian e-commerce website that specialises in the sales of baby products. It houses a large variety of baby-related items from infancy to childhood.

As of April 2019, Babydash receives over 51,000 sessions a month, making it one of the most popular e-commerce websites focused on baby products.

3. Fundaztic.com (RM3,000,000 raised)

Stats

Amount Raised

RM3,000,000

% Equity offered

4.84%

% Raised from minimum target

150%

No. of investors

64

Pitchin.my page

Current website

Fundaztic is a peer-to-peer (P2P) lending site registered with the Securities Commission in Malaysia. P2P lending sites like Fundaztic lets qualified individuals earn money from collecting interests from lending out money to other people or businesses.

4. Commerce.asia (RM3,000,000 raised)

Stats

Amount Raised

RM3,000,000

% Equity offered

13.04%

% Raised from minimum target

200%

No. of investors

77

Pitchin.my page

Current website

Launched in 2017, Commerce.Asia is an end-to-end e-commerce enabler that helps SMEs, brands and micro-entrepreneurs to sell online.

It was founded and chaired by serial entrepreneur and founder of MOL, Ganesh Kumar Bangah. 

5. QEOS LED (RM3,000,000 raised)

Stats

Amount Raised

RM3,000,000

% Equity offered

14.29%

% Raised from minimum target

600%

No. of investors

191

Pitchin.my page

Current website

QEOS LED is a Malaysian company specialised in the manufacturing of energy-efficient LED lighting solutions.

It was founded by Prof. Nick Holonyak, who invented LED technology over 50 years ago, along with Dr. Gabriel Walter and Prof. Milton Feng.

LED lighting products can help consumers achieve a savings of between 50 - 80% compared with conventional lighting.

Top 5 Most-funded Reward Crowdfunding Projects on Pitchin.my (and where they are now)

Now that you've seen the top 5 equity fundraised projects, let's take a look at the most funded reward crowdfunding projects on Pitchin.my:

1. Tee Something Nice (US$7,382 raised)

Tee Something Nice was a project to print t-shirts with uniquely Malaysian art work. Launched its fundraiser on Pitchin in July 2013 with the goal of raising US$1,000. By the end of the month-long campaign, it had raised over 7X its goal.

However, as of May 2019, Tee Something Nice doesn't appear to be an active project anymore. I couldn't find much information on it and its website's last update was in 2013:

If anyone knows if this project is still alive in some form, please let me know!

2. Compact Rehabilitation Robot CR2 (RM27,599 raised)

Compact Rehabilitation Robot (CR2) was a project launched by Khor Kang Xiang on Pitchin in May 2014. CR2 is a compact and portable robot rehabilitation system meant to help train people who have suffered strokes, brain injuries and other neurological disorders who have impaired their hands and arms to regain control of them.

With a funding goal of RM5,000, CR2 raised over RM27,000. I'm happy to report that after five years, the CR2 is still very much in the market. It is currently housed under the wings of Techcare Innovation:

3. Project HAUS (RM20,925 raised)

Project HAUS was a project to help reduce the cost of water supply to the poorest in Malaysia who lack access to clean water supply. This is done by using solar powered water filtration systems.

Launched in May 2014 by Ganesh Muren, Project HAUS raised 4X its funding goal of RM5,000. As of 2019, the vision of providing clean water supply and assistance to the underprivileged of Malaysia continues to live on through Ganesh Muren's social enterprise Saora Industries.

4. ShuttleGo (RM15,000 raised)

ShuttleGo launched as a short distance hop-on and hop-off shuttle service between residential areas to LRT stations, promising to make commuting a lot easier for individuals who take these routes often.

It exceeded its original funding goal of RM5,000 when it launched in May 2014. However, a quick check of ShuttleGo.com today reveals an inactive website:

5. Brand Aids (USD2,421 raised)

Brand Aids launched on Pitchin as an interactive e-book of real life branding case studies for marketers. With a modest goal of USD1,060, it raised over USD2,400.

As of 2019, I'm unable to find this e-book anywhere online. If you do have info on where this e-book is still supplied, let me know!

Conclusion

As Malaysians become more savvy to backing projects through crowdfunding, more and more projects get funded on platforms like Pitchin.my.

As you might have noticed though, Malaysian investors largely favour equity crowdfunding - where they get some company equity in exchange for their money - over rewards crowdfunding, where they get a product in exchange for their money.

The top equity crowdfunding projects on Pitchin was able to raise over RM2.5m each while the top reward crowdfunding project didn't manage to cross RM30,000 in funding.

While most of the top funded equity crowdfunding projects in Malaysia are still active today, most reward crowdfunding projects have become dormant.

If you are thinking of getting a project crowdfunded on Pitchin and think you have what it takes, perhaps you can consider bringing it live through equity crowdfunding!

Let me know! Have you ever thought about raising money on crowdfunding platforms like Pitchin? 

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About the author 

Lu Wee Tang

Lu Wee is the founder and writer of Entrepreneur Campfire. She started her journey in e-commerce and SEO after leaving her engineering career behind. Now, she consults small and medium businesses in Malaysia and Singapore on how to digitise and grow their business.

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