Kuala Lumpur, May 2 – Popular Malaysian instant booking platform, VMO Rocks Sdn Bhd (VMO) rocks its first successful equity crowdfunding campaign, raising a total of RM500,000 and paving the way to advance the business beyond its current features.\u00a0<\/p>\n
VMO raised a total of RM250,000 through equity crowdfunding platform CrowdPlus.asia in just four days, making it the eighth successful CrowdPlus.asia campaign so far. The remaining RM250,000 was raised from a co-investment deal with Cradle Fund Sdn Bhd.<\/p>\n
VMO made its official debut in March 2016, offering Malaysians the ability to book event venues and services instantly via www.vmo.rocks<\/a>. VMO aims to revolutionise the way people discover, compare and book event spaces. The online events platform matches users, whether personal or corporate, with the right venue for their event.\u00a0<\/p>\n \u201cThe successful campaign one year after VMO\u2019s establishment boosted VMO\u2019s credibility as a viable business in a new frontier for investment in this region,\u201d said VMO\u2019s Chief Eventgelist, Vincent Kok.<\/p>\n \u201cIn the span of four days, from March 20, 2017, 13 public investors participated in the campaign and took us to our target. In fact, we were slightly oversubscribed before we could end the campaign,\u201d he added. VMO offered 14.3% equity to its investors.<\/p>\n \u201cWe are particularly excited that the equity crowdfunding campaign via CrowdPlus.asia<\/a> was so successful and we are now laying the foundation for market expansion, advertising and marketing efforts, as well as supporting tech development,\u201d Kok continued.<\/p>\n \u201cAt the moment, we are only scratching the surface. We still have a lot of room to grow and a lot of work to be done,\u201d said Kok.<\/p>\n VMO intends to further expand its business in Klang Valley, Penang, Ipoh, Malacca and Johor Bahru to 1,500 establishments from its current listing of 900 establishments.<\/p>\n