DagangHalal's ECF Effort Raises RM 3.8 million 24 Hours After Campaign Launch
KUALA LUMPUR, Malaysia, Nov. 23, 2022 /PRNewswire/ -- Thriving on DagangAsia Network Holding Sdn. Bhd.'s (DANH) success over the last decade and preparing for the expansion phase of its e-commerce platform DagangHalal.com, DANH launched an Equity Crowdfunding (ECF) campaign on November 22 via MyStartr, successfully raising RM 3.8 million just a day after launch with an end goal of RM 5 million.
With an aim to become the world's busiest B2B Halal e-marketplace, DANH will utilise the funding to strengthen the digital solutions of DagangHalal.com with important updates and improvements to deliver the best digital experience for its users and enhance the platform's visibility.
In particular, 40% of the ECF capital will be used for software development as well as adding more features and improving the user experience for DagangHalal.com; 15% of the fund will go into digital marketing to help the e-commerce platform to generate more trade leads online, and another 15% ill fund DANH's trade show participations with the remaining funds to be injected into DANH's working capital. DANH's ECF is the first out of several planned activities before the company's target IPO in 2024.
DagangHalal.com enables market penetration, as well as export revenue growth for small and medium enterprises into the 5.6%, annualised growth rate of the USD 7.2 trillion global Halal markets. The e-Marketplace matches global Halal suppliers and buyers with Full Container Load (FCL), Less than Container Load (LCL), and mixed container requirements through an integrated O2O channel, leveraging its wide network of distributors, corporate retailers, government agencies, and trade show organisers.
The 13,000 buyers currently on the platform are provided access to a network of over 4,300 certified and reliable global suppliers across 85 countries which is expected to surpass the 20,000 suppliers benchmark by 2025. Suppliers on the other hand will be able to utilise this network to access various distribution tiers from the global market at a competitive cost.
DANH has also developed retail networks and corporate alliances with distributors across key markets, the US, UK, Japan, Philippines, Thailand, South Korea, Germany, Australia, New Zealand, Canada, Malaysia, Indonesia, and China. More recently, the e-Marketplace partnered with Global Business Synergy, which has established a business distribution system and a network spanning 80 countries with more than 500,000 physical distribution points of sales.
Moreover, DANH's effective SEO and digital marketing effort enable the platform's high ranking on Google search engine Halal keyword results, drawing considerable traffic to the suppliers in the e-Marketplace.
Throughout the years, even before the Halal market boom, DANH has been a forward-thinking brand determined to set a strong foothold in the global Halal industry. With extensive expertise in global Halal compliance, international trading, and information technology capability, the company has experienced high growth, and downtrend, weathering huge challenges, and finally rebounding, showing huge potential for expansion.
To take part in DANH's ECF campaign, visit www.mystartr.com/projects/daganghalal.
About DagangAsia Network Holding Sdn. Bhd.
DANH operates its DagangHalal digital businesses and intellectual property after a restructuring in 2019 and has maintained its mission of facilitating the trading of quality Halal products and services, matching suppliers and buyers via its online B2B market platform DagangHalal.com. Concurrently, DANH fine-tuned the DagangHalal business model and invested heavily in digital solutions and global distribution networks to enhance its unique value proposition. DagangHalal currently has over 4,300 suppliers and 13,000 buyers on its platform.
SOURCE DagangAsia Network Holding Sdn. Bhd.
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