Updated with answers from Rick Chen, Co-Founder, Director, Pozible – 31/12/2013
After helping 5,000 projects raise AU$16 million (US$14.2 million) in the last three years, Australian crowdfunding platform Pozible is finally entering the Singapore and Malaysia market.
After extending its services to Singapore and Malaysia, individuals and organisations from the two countries will now able to create and setup projects on Pozible to raise funds.
Earlier in 2013, the site had a small private beta programme for projects based in Singapore. As a result, travellers Ho Renyung and Adrien Desbaillets managed to raise S$21,708 (US$17,138) and fulfil their S$20,000 (US$15,782) funding goal for the documentation of their journey across India on an auto rickshaw.
With a diverse range of categories, from technology to food and drink to film, music, and journalism, the company also intends to support local currencies, MYR and SGD. Pozible will also be working with local groups and organisations in Singapore and Malaysia.
Pozible’s entry into Singapore and Malaysia does seem like a good move, given the absence of established crowdfunding platform, Kickstarter. At the moment, there is a small number of such hybrid sites, including ToGather.Asia, a group buying pre-order site, and Crowdonomic. Indiegogo is currently supported in Singapore.
Rick Chen, Co-Founder and Director, Pozible, said, “We see Singapore as a key part of our Southeast Asia plans, as the tiny, hyper-connected island nation that it is. Malaysian cities also have a strong creative class, which can benefit from crowdfunding.”
He added that as an Australian startup, Southeast Asia has always been on their mind. Singapore stands as a “business hub with a cosmopolitan population well-versed in latest tech trends,” and Malaysia boasts a “vibrant indie arts scene.”
While Malaysia is “many times bigger than Singapore”, he claimed that “in terms of urban areas, Kuala Lumpur and the great Kuala Lumpur is quite similar in size to Singapore.” However, the possibilities are endless. He added, “The only difference is Malaysia has several other cities like Penang, Johor Baru, Kota Kinabalu and Kuching which also have creative, entrepreneurial people who may benefit from crowdfunding, so we’re excited about the possibilities.”
Chen also noted that the company holds workshops and programmes to help potential project owners successfully raise funds on Pozible. “This comes down to how we believe in working with creative people and entrepreneurs in every city at the grassroots level.”
Pozible will also soon speed up its expansion throughout Southeast Asia, from Singapore. At the moment, the company has hired a marketing manager for Southeast Asia who will oversee its expansion in the two countries.
With a mobile-optimised version, which Chen claimed “works very well”, Pozible will not be building an app “for the sake of having one”.