Catcha Digital raises RM29.7m for growth and expansion, will lift GN2 status

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Malaysia-based investment holding company, Catcha Digital is set to lift its Guidance Note 2 (GN2) status after successfully raising RM29.7 million through the Rights Issue exercise as it looks toward growing and expanding its business in Southeast Asia.

The raised capital also marked the completion of Catcha Digital’s plans for regularisation, according to a statement by the company.

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“With the completion of this fundraising exercise, the company is in a strong position to accelerate its growth plans and realise our vision to build the leading digital group in Southeast Asia,” said Eric Tan, CEO of Catcha Digital.

“Our aim is to attract the best digital and software companies to join us, consolidating our position as the industry leader in Southeast Asia and thus, creating sustainable value for all stakeholders,” he continued.

Wholly owned by digital media company iMedia Asia, Catcha Digital is focused on operating businesses in the digital media, advertising and software industries.

“We are extremely appreciative of our shareholders’ steadfast confidence and support over the past few years as the regularisation plan was carried out,” said Patrick YKin Grove, chairman of Catcha Digital.

“After the completion of the regularsation plan and the upliftment of GN2 status, we can now devote our attention to building, growing and scaling the company to greater heights,” he further elaborated.

In addition, earlier this month, Catcha Digital launched a new business unit called “i-Gov" to accelerate The Malaysia Digital Economy Blueprint by working to develop technology solutions and software for the Malaysian government and the public sector.

Recently, global fintech company Futu Holdings Limited announced the expansion of its comprehensive investment platform moomoo into Malaysia following the success it saw in Singapore, according to a statement by the brand.

To do this, the company is introducing a comprehensive suite of tech-driven offerings to promote financial inclusion to Malaysian investors.

Through the launch, investors in Malaysia will enjoy lifelong access to a holistic suite of self-help educational resources, free-for-all market data and a supportive global community to unlock more opportunities.

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