A financial services platform for better financial decision-making
SHAH ALAM, Malaysia, July 13, 2022 /PRNewswire/ — Malaysian online loan comparison and services platform LOANPANDA has successfully raised almost $295,000 (RM1.3 million ) equity crowdfunding (ECF) as it seeks to transform the financial services ecosystem into Malaysia.
LoanPanda Co-Team, on the right in the front row is the Founder and CEO of LoanPanda, Mr. Nicholas Lim Tze Khai
Estimated at $1.8 million (RM8 million), The LOANPANDA campaign achieved its minimum goal of RM500,000 in 1 hour, and at the end of the campaign, the funds exceeded more than 100% of the initial goal to be reached RM1,251,000 in financing. A total of 176 investors contributed funding.
The ECF campaign has been hosted by MyStartr, an ECF platform licensed by the Securities Commission Malaysia since 2019. As an ECF platform, MyStartr helps startups scale faster and grow by hosting ECF campaigns that connect startups to investors, while offering retail investors a chance to participate in innovative early-stage startups. Over the past 3 years, MyStartr has successfully helped more than 52 startups secure more than $18 million (RM80 million) of the total crowdfunding amount.
During the 2 years of the pandemic, small and medium businesses in Malaysia have been hit hard. Nicholas, CEO and Founder of LOANPANDA, recalled, “An acquaintance of mine, Mr. Tan, had a dilemma due to the cash flow problem. not knowing how to compare his financing options, he contacted a so-called ‘banker’ for help, only to find himself in a more helpless situation after finding out he had been scammed out of his money.”
Disappointed by this unfortunate experience, Nicholas was determined to put an end to online loan fraud.
Drawing on his financial knowledge and experience, he brought together a group of like-minded partners to establish LOANPANDA as Malaysia’s online lending comparison and services platform to create an ecosystem where “Anyone can lend” as its slogan suggests.
LOANPANDA aims to create a more transparent and accessible financial services platform so that people can easily understand, compare and choose the best financial products on the market that best suit their needs. It aims to help people make better financial decisions by providing professional analysis and financial calculator comparison tools.
Additionally, the platform also offers personalized financial consulting services to help clients create financial plans tailored to their financial needs or goals. The consulting service will be supported by its network of affiliated financial consultants – whose credentials and experience have been carefully vetted and verified before they are allowed to join LOANPANDA’s network.
Nicholas said LOANPANDA intends to use the funds to further enhance the platform’s technological capabilities (20%), expand its user base (50%) and support its operation and growth (50%) at over the next 12 to 18 months.
For more information on LOANPANDA, please visit their website at:
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