Malaysia’s Largest Auction Tech Platform
Kuala Lumpur, Malaysia, December 28, 2021 / PRNewswire / – Bidnow.my, Malaysia’s largest auction technology platform, recently completed its second round funding exercise of the MyStartr platform, a crowdfunding recognized market operator licensed by the Securities Commission Malaysia. Backed by 470 investors, which sets MyStartr’s highest record, Bidnow.my successfully raised ~ US $ 1.3 million (RM 5 517 099) in less than 2 weeks, exceeding its maximum target amount of RM 5.5 million.
Bidnow.my serves as a platform for the 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 12e december 2020 to 21st December 2020. A total of RM 2.1 million was raised from 384 shareholders, at the same time received Malaysia’s books of records “Highest investment amount received for equity crowdfunding in one day”.
Commenting on the completion of the financing, the founder and CEO of MyStartr, Mr. Goh Boon Peng said: “They are optimistic about their ability to expand their business internationally.”
Digitization of goods at auction
Bidnow.my was created in june 2019 as a one stop auction property business platform. In two years he became the biggest status of Malaysia. Currently, more than 20,000 active members and more than 8,000 real estate brokers are registered on the platform. In addition to real estate auctions, the “JomBid” and “GroupBid” functionalities which were launched smoothly in April 2021 allow users to bid on new household appliances, gadgets, luxury watches and furniture.
“With the increase in the number of users on Bidnow.my, there are currently more and more real estate agencies and product sellers intend to list their products in Bidnow for bidding. We believe that through the strategic cooperation with these parties, Bidnow will have a greater variety of products to attract more customers of different interests to visit Bidnow.my to search for valuable purchasing items, so we expect this that active members grow dramatically in 2022, ”said Bidnow.my founder and CEO Mr. Frankie Goh Chee Keong.
Bidnow.my promises the team will maximize the use of funds to become the # 1 home appliance auction and buying platform in South East Asia. The team will create a second overseas company in Jakarta, Indonesia and also, develop a comprehensive online auction system for all auction houses and banks while integrating with other real estate portals to create a win-win situation. Previous secured funding allowed the platform to upgrade software and services, as well as start a business in Singapore.
For more details on the project, please visit MyStartr X Bidnow
Founded in 2019 by a team of real estate professionals, Bidnow.my has implemented a new one-stop advisory platform (https://www.BidNow.my/) for investing in the sale of properties to auction. The platform aims to help bidders avoid falling into auction traps such as non-transferable homes, liquidating developers, freezing orders, etc. With a solid background in IT, personalized administration tools with added value for business partners and advertisers are offered. It transformed the traditional landscape by digitizing business operations.
SOURCE MYSTARTR SDN BHD