The Netrove group today merges its Crowd+ crowdfunding concept into Propellar Crowdplus Sdn Bhd (“PC+”), a company which has experienced Malaysian entrepreneurs and a pure play equity crowd funding platform developer as shareholders. PC+’s principal activity will be operating an electronic facility for equity crowdfunding in Malaysia and this company shall submit an application to the Securities Commission Malaysia to become a registered equity crowdfunding platform. Netrove has been planning its own equity crowdfunding initiatives for over a year until a fortuitous meeting with Craig Skien, the founder of Propellar Corporation of Hong Kong earlier this year. That was a meeting of like minded people and both parties decided to merge their plans into one and Propellar Crowd+ was formed.
Netrove’s Chairman, Mr Teh, commented, “The equity crowd funding is an extension of our existing venture capital business and in effect, we are bringing Netrove’s 15 years of successful methodologies and track record in investments on to the online platform. We believe the potential in the equity crowdfunding segment which cuts across all borders and how the entire funding eco-system in Malaysia specifically and ASEAN in general can benefit. We are excited to collaborate with Propellar Corporation Limited, a developer with more than 25 years of banking and operational experience and together with Netrove’s venture capital experience, we look forward to securing the necessary licence to run the platform.”
