Kuala Lumpur, 18th June 2020 – Pasar App (Company: Logasia Sdn Bhd) has officially launched its Equity Crowdfunding (“ECF”) campaign on the Ata Plus platform. Requesting RM700,020 for an 18.9% equity hold of the company, Pasar App offers early-stage investors exciting opportunities as they envision expansion across Malaysia in the coming future with the alpha release of its Pasar App.
Named after the Malay word for wet market, Pasar App is a grocery e-commerce app aimed to deliver fresh wet market goods to the doorstep of its users. Taking consideration of convenience and also the recent Recovery Movement Control Order (“RMCO”) in Malaysia, Pasar App aims to ease its users from the struggles of buying groceries by facilitating their purchase for them. During the app’s 8-month testing period, Pasar proved its business model viability by gaining almost 14,000 user downloads and 80 merchants in 7 pasars across Klang Valley. Committed to bettering their services since 2017, Pasar also ranked Top 10 in the SME Accelerator Program 2019, conducted by 1337 Ventures and the CIMB SHINE.
The funds raised will provide this on-demand groceries app means to not only carry out its operations and expand the team, but also assist to further market and enhance the app.
“We believe that the traction gained in Pasar’s testing period determines the strong demand for fresh grocery delivery services in our community,” says Tunku Eddy, Founder and Director of Pasar App. “With the RMCO and other future uncertainties, our services may eventually stand to be an essential.”
“Most ECF campaigns thrive through the support of the surrounding community,” says Elain Lockman, Co-Founder and Director of Ata Plus. “Pasar App’s neighbourhood-centric approach to providing its delivery services serves as a solid selling point for its ECF campaign,” she adds.
For more information on the Company or the investment details, please visit h ttps://ata-plus.com/deals/pasar.