pitchIN Secures In-Principle Approval for Secondary Market From the SC
- by XM Admin
Malaysian equity crowdfunding platform (ECF) pitchIN announced that it has received in-principle approval for Secondary Market from the Securities Commission Malaysia (SC).
The company is targeting to launch the pitchIN Secondary Market in the first half of 2022.
Just yesterday the SC had also announced that pitchIN was one of the two registered Initial Exchange Offering (IEO) operators.
Chan Wei Chi, who will head pitchIN’s IEO operations, said that pitchIN aims to contribute to the creation of a vibrant digital assets ecosystem in Malaysia that is open, innovative and interoperable.
pitchIN added that it has been preparing for some time now to grow beyond ECF into a fintech player with multiple offerings.
The company has made moves to strengthen its capacities in technology, compliance, legal and financial analysis to prepare for this.
pitchIN has also raised RM10.5 million from an ECF campaign as well as VC investors.
Over the past six years, pitchIN’s ECF platform have assisted over 130 fast growing Malaysian companies to raise over RM230 million.