Equity crowdfunding (ECF) platform, CrowdPlus.asia, today announced that its debut company, Curren$eek, is open to accept Malaysian investors. This marks the first ECF listing in Asia. Curren$eek is a location-based currency comparison app poised to revolutionise the travel industry by enabling travellers to find or negotiate the best rates on the go and save up to 30% of their hard-earned travel cash.
Curren$eek takes the hassle out of locating and negotiating the best currency exchange rates in the Klang Valley, addressing a challenge faced by billions of travellers all over the world. Over 25 million travellers to Malaysia could benefit annually from Curren$eek’s solution.
Users can see all the rates on a map along with the disparity between the best and worst. Because foreign exchange rates not only fluctuate from day to day, but can also vary significantly from one FOREX provider to another, travellers can save time and money as well as not having to worry that a better rate may be just around the corner.
The company derives its revenue streams from partners by way of subscription fees, from users via paid downloads, freemium services or in-app purchasing, and from merchants.
Conceived and developed by Intuitive Asset Sdn Bhd since October 2013, Curren$eek aims to raise up to RM500,000 (14.29%) with a minimum raise amount of RM300,000 (9.09%). The investment will be channeled towards driving their marketing efforts, enhancing the existing app and introducing premium services for their partners and registered merchants. Curren$eek is a finalist for the global NextBank FinTech start-up pitch competition, having won the Malaysia semi-finals on 19 December 2015.
Taking the lead as one of the six approved ECF platform operators by the Securities Commission (SC), CrowdPlus.asia is the first equity crowdfunding platform in ASEAN to put a company live on the global map for crowd investment.
Launched on 13 November 2015, CrowdPlus.asia enables local startups and businesses from various industries to raise up to a maximum amount of RM5 million, excluding the company/issuer’s own capital contribution or any funding obtained through private placement exercise. An issue can only raise up to RM3 million within a 12-month period.
As per the ECF guidelines set by the SC, retail investors can invest a maximum of RM5,000 per company, while angel investors can invest up to RM500,000 per company, with no limits imposed on sophisticated investors.
For more information, visit www.crowdplus.asia.