ECF, P2P platforms raised RM50m to fund 450 campaigns

KUALA LUMPUR: The equity crowd funding (ECF) and peer-to-peer (P2P) financing platforms have funded 450 campaigns, raising a total of RM50 million to meet the financing needs of the micro, small and medium enterprises (MSMEs), according to Securities Commission (SC) Malaysia.

SC introduced ECF in 2015 to provide early-stage financing for start-up entrepreneurs while the P2P financing framework, introduced in April 2016, aims to address funding needs of SMEs to raise working capital or capital for growth.

SC chairman Tan Sri Ranjit Ajit Singh this morning also announced measures to liberalise Malaysia's RM1.3 trillion bond and sukuk market for retail participation at the SCxSC Digital Finance Conference 2017 here, and launched a centralised bond and sukuk information platform known as BIX (bond & sukuk information exchange) to provide easier access and comprehensive information on corporate bond and sukuk.

The government will establish a co-investment fund with RM50 million from existing grants to be co-invested in SMEs with private investors through ECF and P2P platforms.