Loan comparison and services platform LOANPANDA raises nearly USD295K (RM1.3 million) from crowdfunding via MyStartr platform
Summary
A financial service platform for a better financial decision makingSHAH ALAM, Malaysia, July 13, 2022 /PRNewswire/ -- Malaysian online loan comparison and services platform LOANPANDA has successfully raised nearly USD295K (RM1.3 million ) from equity crowdfunding (ECF) as it looks to transform the financial services ecosystem in Malaysia.Valued at USD1.8 million (RM8 million), LOANPANDAs campaign hit its minimum target of RM500,000 in 1 hour, and by the end of the campaign, the funds have exceeded more than 100% of the initial target to achieve RM1,251,000 in funding. In the past 3 years, MyStartr has successfully helped more than 52 startups to secure more than USD18 million (RM80 million) of the total crowdfunding amount.During the 2 years of the pandemic, the Malaysian small and medium-sized enterprises were badly affected. Nicholas, the CEO and founder of LOANPANDA, recalled, "One of my acquaintances, Mr Tan, was having a dilemma due to the cash flow problem. "Disappointed by the unfortunate experience, Nicholas was determined to put an end to online loan fraud.Drawing on his financial knowledge and experience, he gathered a group of like-minded partners to establish LOANPANDA as the Malaysian online loan comparison and services platform to create an ecosystem where "Everyone Can Loan" as its tagline suggests.LOANPANDA aims to create a more transparent and accessible financial services platform for people to easily understand, compare and choose the best financial products on the market that best suit their needs. The consultation 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 LOANPANDAs network.Nicholas said LOANPANDA intends to use the funds to further enhance the platforms technological capabilities (20%), expand its user base (50%) and support its operation and growth (50%) for the next 12 to 18 months.For more information about LOANPANDA, please visit their website at: