Crowdfunding is a common way for new businesses and ventures to get funding for their projects by raising small amounts of money from a large number of people.
There are a few crowdfunding sites in the market today, most designed to cater to the masses.
However, these 6 platforms that are active in Malaysia have a niche, and host market-specific projects seeking funding for their causes.
1. 100% Project
This crowdfunding platform was created to aid classrooms in need.
100% Project was launched in 2015 to empower teachers in providing the best learning experience for their students.
They take the responsibility of collecting donations very seriously and promise that 100% of donors’ contributions will go directly to classroom projects.
Every disbursement to their projects will be open for public review on their transparency document.
Niche: Classroom and teaching experience.
Total Raised: RM1,000,000 that’s impacted 30,000 students (according to current information on their website).
Things To Note: They only accept campaign requests from public school teachers.
Examples Of Campaigns:
- The Big Give: FREE Reusable Face Masks for SMK Damansara Jaya, Selangor;
- Help us to Rebuild our School after Natural disasters;
- Refugee children affected by covid-19 and hope to keep learning and get knowledge.
2. Ethis Group
Ethis Group is an Islamic equity crowdfunding platform based in Singapore which started in 2014.
Investments going through the platform are approved by regulators from Indonesia, Malaysia, and Dubai, together with a charity platform named Global Sadaqah.
Ethis Malaysia offers access to investment opportunities in unique and promising companies.
It also serves as a platform for entrepreneurs to showcase their company to a community of global investors.
Niche: Islamic businesses.
Total Raised: N/A
Things To Note: If a campaign fails, investors will be refunded the total they’ve contributed to their bank accounts.
Examples Of Campaigns:
- Food Security Exchange (FSX) (funding for agritech and aquatech projects to enhance food security resilience);
- Francorp (funding to assist franchisers in expanding their brands).
Editor’s Note: Parts of the above paragraph have been edited to reflect greater accuracy of the statement.
3. Give.my
Give.my is another crowdfunding platform that’s catered towards funding education.
It enables the public to directly contribute to teacher projects across Malaysia.
The platform was created for educators who struggle to fund creative projects for their students.
Some of their projects include creating learning spaces in schools, bringing students on instructional field trips, and cultural heritage awareness workshops.
Niche: Access to education.
Total Raised: RM278,286 to support 5,857 students (according to current information on their website).
Things To Note: The targeted fund should be around RM5,000 or less, unless you have a strong network of potential funders.
Examples Of Campaigns:
- Create & Code: Girls Who Code For A Change;
- Lasallian Expedition and Development Camp;
- Help Fund Sarawakian Students’ Trip to Petrosains!
4. HanaFundMe
Aimed at supporting female entrepreneurs, HanaFundMe is a crowdfunding platform for women’s startups, projects, causes and missions.
Launched on March 18, 2020, it supports men too if they create or invent products and services that target women’s interest, lifestyle and livelihood.
The community of the platform will enable women to connect with other women in order to give vetted resources around capital, growing their business and operating more efficiently.
They provide additional services like free mentorships and campaign reviews to newbies launching their campaign for the first time, as well as creative production for visuals and videos at a fee.
Niche: Women entrepreneurs and women-focused projects.
Total Raised: RM70,000 to date.
Things To Note: Every campaign owner must have a digital presence that legitimises what they say they are doing in their campaign.
Examples Of Campaigns:
- COVID19 Appeal: Hospitals In Sabah Needs Your Help;
- Plight Of Sabah’s Students With Studying Online Campaign;
- Jom bantu Azhar: Motosikal diperlukan untuk kerja amal kepada haiwan jalanan Campaign.
Editor’s Note: Parts of the above paragraph have been edited to reflect greater accuracy of the statement.
5. Kitafund
Kitafund’s niche is dedicated to helping people with medical emergencies, humanitarian needs and higher education.
The site has been merged with Skolafund, which was originally a crowdfunding site by the same founding team for the latter cause.
Some examples of campaigns on the platform include funding the treatment of a patient with chronic illnesses and building a library for less fortunate children.
Each campaign goes through a strict verification process to reduce fraud cases.
Niche: Medical emergencies, humanitarian efforts, and higher education.
Total Raised: RM2.8 million as of September 2019 (Kitafund and Skolafund combined, before they were merged).
Things To Note: For medical campaigns, the platform will request copies of documents from the hospital stating the condition of the patient. An interview with the patient will be conducted if they’re based in Kuala Lumpur.
Examples Of Campaigns:
- Priyaa Simmi x National Cancer Society Malaysia (funding for new breast cancer screening appliances);
- DHRRA FOODBRIDGE (funding for food access for vulnerable communities).
6. MyStartr
Built based on Kickstarter’s model, MyStartr is a Malaysian crowdfunding platform catered towards creative projects and Chinese-owned businesses.
Started in 2012, they aim to bridge the gap between the investors and startups, educate more retail investors to conduct proper investment, and assist the startup in scaling faster and bigger.
They also provide copywriting, video and marketing services to issuers and offer a coaching program after issuers get funded.
Niche: Creative projects and businesses within the Mandarin-speaking sphere.
Total Raised: RM7.2 million for 8 projects as of Q1 2020.
Things To Note: Each campaign can only run for sixty days.
Examples Of Campaigns:
- Passport Madu (funding for short film production);
- More Than Just A Maid Agency (funding for a Chinese business);
- Fayse The Music (funding for a solo album).
Featured Image Credit: Goh Boon Ping, founder of MyStartr; Tengkul Syamil, founder of Kitafund; and Angie Chin, co-founder HanaFundMe