Malaysia is the first South-East Asia country providing equity crowdfunding licenses. The license allows FundedByMe to start operations in the new market.
The announcement follows careful deliberations by the Malaysian Securities Commission, which closed submissions for licenses in May 2015. The license comes under Section 34 of the Capital Markets and Services Act (2007), by the Malaysian Securities Commission. It will permit the selected platforms to help privately owned businesses raise money from a spectrum of investors, including institutional, accredited, and retail investors, with limitations placed on non-accredited investors.
Regarding the Asia Pacific region, FundedByMe has worked hard to advance the industry in Asia, after setting up a regional office in Singapore in 2014. Earlier in May 2015, FundedByMe was part of another regional-first initiative alongside partners CoAssets and New Union, who together formed a FinTech Alliance in South-East Asia.
Founded in April 2011 in Sweden, FundedByMe today operates with additional offices in Finland, Denmark, Norway, Spain, Germany and Singapore.
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