With one of the most developed digital economy in the region, Malaysia is a key country for startups in Southeast Asia. With a maturing startup eco-system, Malaysia is home to an ever-growing number of companies that aim at developing a solid base of operations there before expanding abroad.
The startups and technology companies listed hereafter are involved in a number of industries and businesses, from digital media to e-commerce, financials services to software and much more, Malaysian startups are engaged in the development of new verticals and the disruption of a broad range of industries.
Not as famous as some startups from Singapore, Malaysian startups often focus on small business niches and tackle professional problems. But even though they have not yet joined the restrictive group of unicorns of Southeast Asia, Malaysian startups still have become national, regional or even global leaders in their fields.
List of the 20 top funded startups in Malaysia
Here is the list with details about each company, total amount of funds received by the company in US $ unless otherwise specified, according to Crunchbase, as of May 2019, together with the company’s logo and direct link to the company’s website.
Quick links to top startups of Malaysia
To facilitate browsing in this list, here are links to go directly to the presentation of each startup.
For ranking purpose, the exchange rate of the 7 May 2019 used for MYR to USD is 0.24.
Industry: Insurance, Financial Services – Total funding: $ 535,000
PolicyStreet is a financial services company specialized in the insurance industry. It provides an array of insurance policies targeted at millennials and younger generations thanks to partnerships with key insurance companies, use of new technologies and tailored products.
Industry: Marketplace, Procurement – Total funding: $ 564,000
Dropee is a B2B wholesale marketplace helping retailers source products directly from qualified suppliers through their online application. Working across Malaysia and Southeast Asia, Dropee helps suppliers and retailers to do business in a faster, cheaper and more reliable way.
Industry: E-Commerce, Flowers – Total funding: $ 800,000
BloomThis is an e-commerce service specialized in selling and delivering fresh flowers. It provides designer flowers in bouquets, signature hat boxes, long boxes, gifts for special occasions, as well as subscriptions for periodic fresh flowers deliveries throughout Malaysia and Singapore.
Industry: Nutrition, E-Commerce – Total funding: $ 800,000
PurelyB is an content platform dedicated to health and wellness in Asia, integrated together with a marketplace dedicated to products and services for a healthier lifestyle. PurelyB is especially focused in the Malaysian and Hongkongese markets.
Industry: Automotive, Fleet Management – Total funding: $ 1.1 Million
Katsana is a company providing in GPS tracking system and fleet management system. Thanks to its prediction and gamification engine, Katsana aims at understanding driver behaviors and scoring them to improve their driving habits, and collaborate with auto manufacturers and motor insurers.
Industry: E-Commerce, Flowers – Total funding: MYR 6 Million
Flower Chimp is an e-commerce platform providing flower delivery service. With a wide array of flowers selections and bouquets, Flower Chimp has a very large choice of flowers for all occasions. It operates in Malaysia, Indonesia, Philippines and Singapore
Industry: Health Care, Mobile – Total funding: $ 2 Million
BookDoc is an online platform dedicated to connecting patients to healthcare professionals anytime and anywhere. Providing a complete health care experience, the BookDoc platform integrates with transports, accommodation, restaurants and attractions. It is present in Malaysia, Singapore, Indonesia, Hong Kong and Thailand.
Industry: Online Portals, Classifieds – Total funding: MYR 10 Million
CloudHax provides listing services for a wide range of products and services including property, car, event and classified. It operates through various websites and proposes technology solutions in ticketing, dig data, advertising, media, web development and automotive.
Industry: Financial Services, Software – Total funding: $ 2.6 Million
Stampede Solution is specialized in providing technology solutions for accounts receivable management and debt collection in Malaysia. Its platform helps debt collection agencies, especially in the banking, financial institutions and telecommunications industries, visualize critical information, empower teams, standardize and automate key collection processes.
Industry: Professional Services, Mobile – Total funding: $ 2.7 Million
ServisHero hosts a platform to hire local service providers for home and office. It provides multiple quotes from community-reviewed service providers, including home inspection, cleaning, air conditioning maintenance, electricity and plumbing, relocation and construction contractors.
Industry: Food and Beverage, Food Delivery – Total funding: $ 4 Million
Dahmakan provides a service of food delivery. Equipped with its own chefs and kitchen, Dahmakan proposes a selection of dishes to be ordered online. Thanks to logistics and cooking automation, Dahmakan makes food delivery affordable in Kuala Lumpur and Bangkok.
Industry: Digital Media – Total funding: $ 4 Million
The Asian Entrepreneur is a company primarily involved in digital media. Catering to the entrepreneurship category, it operates various professional services. The Asian Entrepreneur is operating in Malaysia, UK and US.
Industry: Mobile Payments, Point of Sale – Total funding: $ 5 Million
Soft Space is a mobile point of sales provider. It especially allows its customers to accept card based payments, and works throughout Southeast Asia and the Pacific thanks to partnerships with banks in Malaysia, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Australia and New Zealand.
Industry: Point of Sale, Enterprise Software – Total funding: $ 6.1 Million
StoreHub is a mobile point of sale system that relies on both hardware and software. It helps retail companies manage their business and connect with their customers around the world. Headquartered in Kuala Lumpur, StoreHub has opened offices in the Philippines, Thailand and China.
Industry: Coupons, E-Commerce – Total funding: $ 9.8 Million
iPrice is an e-commerce discounts and coupons platform focusing on the Southeast Asian region: Malaysia, Indonesia, Vietnam, Singapore, Hong Kong, Thailand, and the Philippines. It helps online shoppers to compare prices, discover products, and obtain deals from the region’s best online shops.
Industry: Financial Services, Analytics – Total funding: $ 10.8 Million
iMoney is a financial comparison portal offering analysis and reviews on credit cards, loans, broadband and insurance. It allows visitors to compare and directly apply online for financial products and services. iMoney Group operates in Malaysia, Singapore, Indonesia, Philippines, Hong Kong and Thailand.
Industry: Professional Services, Online Portals – Total funding: $ 11.6 Million
The Kaodim Group is a service marketplace, linking users with trustworthy, verified service professionals in cleaning, plumbers, photographers and a wide array of trades through its digital platform. Kaodim operates in Malaysia, Singapore, the Philippines and Indonesia.
Industry: FinTech, Software – Total funding: $ 27 Million
Jirnexu provides customer acquisition and life cycle management solutions to companies operating in banking, insurance, telecommunications and e-commerce. It also publishes websites to provide financial comparison tools and help consumers save money and make better decisions.
Industry: E-Commerce Platforms, Automotive – Total funding: $ 27.4 Million
Carsome is an online bidding portal for used car. It helps car owners in the process of selling a car, from inspection to valuation and payment, and for logistics while also lowering the costs associated with selling a car. Originating from Malaysia, Carsome also operates in Indonesia, Thailand and Singapore.
Industry: Digital Entertainment, Video Streaming – Total funding: $ 298 Million
iFlix is an entertainment service, providing unlimited access to TV shows, movies and more to watch on demand on mobile devices, computers, TV. For a monthly fee, iFlix grants access to stream or download a vast selection of comedies, drama, cartoons and movies from around the world.
Here are the top 20 best funded startups of Malaysia. Did we forget any? Did you buy any product or service from them? Which one do you think provides the most useful product? Let us know in the comments below!