[A previous version of the article stated that PurelyB has already raised RM2.7 million (US$630,000). This is incorrect, it has only raised RM 1.3 million (US$300,000)]
Malaysia-based health and wellness portal PurelyB has raised RM1.3 million (US$300,000) via blockchain-enhanced equity crowdfunding platform ATA Plus, overshooting its minimum target of RM300,000 (US$70,100). It plans to raise RM2.7 million (US$630,000) in total.
PurelyB will use the newly-raised financing to expand into five new markets — where it already has users — including Singapore, Hong Kong, Indonesia, Middle East and Australia.
The startup will also implement new interactive features and premium health content, in the form of video and other formats, on the platform.
PurelyB’s investors will not only receive shares in the company but will also obtain rewards such as lifetime discounts of up to 50 per cent on all of its products — depending how much they invested.
“Fundraising via ECF was part of our marketing strategy to acquire new customers and strategic partners,” said Raja Jesrina, the CEO and Co-Founder of PurelyB, in an official press statement.
“More importantly, it was our way of showing gratitude to our loyal members and fans, and give them an opportunity to own a piece of a business that they believe in, at this stage whilst the price per share is still affordable to the average Joe,” she added.
Founded in May 2015, the all-women led startup offers health content, guidance and tools created by the wellness experts on its portal.
This includes a growing digital eco-system of customised health programmes, such as a 30-days cleaning eating regiment and natural home pharmacy for adults, kids and babies.
Today, PurelyB has over 1.3 million users, with over 100,000 of them engaging the platform on at least a monthly basis.
PurelyB was also recognised as one of MDeC’s Top 20 startups in Malaysia list for 2016-2017. In the same year, it made a strategic acquisition of Singapore-based yoga website “Stretch City”, in preparation for their expansion to Singapore this year.
Image Credit: NicChungPhotography