KUALA LUMPUR: Local online property rental platform Speedhome is launching its fourth equity crowdfunding (ECF) round, ahead of a planned initial public offering (IPO) in 2027/2028.
With this round, Speedhome aims to secure between RM5 million and RM10 million on pitchIN to propel its growth strategy, expand its market footprint in Malaysia, and enhance technological and marketing capabilities.
According to Speedhome, the funds raised in this fourth ECF round will be used to strengthen Speedhome's presence in strategic locations, including Penang and Johor, and enhance its technology infrastructure to improve user experience and operational efficiency.
It added that the investment will also support robust marketing initiatives to further brand visibility.
Speedhome chief executive officer Wong Whei Meng said with a mission to reshape the rental market in Malaysia, the company has consistently leveraged investor support to fuel its vision and reach new milestones.
"Our journey is a testament to the power of community-driven growth, and this upcoming round is an opportunity for investors to join us in redefining rental solutions and participate in our exciting path toward an IPO," he said in a statement Tuesday.
Investors participating in this round can benefit from unique incentives, including up to three per cent bonus shares and RM300 cash vouchers.
Additionally, Speedhome customers are eligible for exclusive pre-live bonuses of up to 3.5 per cent additional shares.
Since its inception, Speedhome has built a tech-driven ecosystem that addresses the needs of property owners and tenants, all made possible by the strong backing of ECF investors.
With each phase of funding, the company has introduced transformative features, such as virtual property tours, automated rent collection, and tenant screening services, establishing itself as a reliable platform for both renters and landlords.
This support has enabled the platform to reach a substantial revenue benchmark of RM10.23 million as of Sept 2024, with projections of closing the year at RM14 million.