More variety at lower prices! – Malaysia’s fast growing houseware store SWC raises P2P financing for business expansion after tremendous ECF success
SWC Enterprise Sdn Bhd is a fast-growing & low-priced houseware chain store with over 30 outlets and over 300 employees in the Kuala Lumpur area. The company was incorporated in 2015 with only one outlet and has since then experienced an impressive growth of 46% per year.
In 2017, SWC’s equity crowdfunding (ECF) campaign on FundedByMe Malaysia broke the crowdfunding record in Malaysia at that time, raising approximately RM 3 million.
Since then, the business has grown to an impressive 361 staff currently, adding 225 additional employees after the ECF fundraise from 136 staff before the fundraise. ‘The funding we received from ECF has played a significant role in helping us create new jobs and support our E-Commerce growth` Simon Heng, founder of SWC said.
The company has fully embraced the advantages and benefits of crowdfunding, raising funds through both Peer-to-peer financing (P2P) and ECF.
According to Heng, ‘We want to build on our previous ECF crowdfunding success and are coming back for P2P financing. The first P2P round has already proven to be a convenient way to obtain working capital. We used the funds for a promotional campaign and business expansion. The return on the marketing campaign has been impressive. We plan to raise more funds soon to pre-finance our suppliers.’
SWC has positioned itself uniquely to offer customers ‘More Variety At Lower Price!’, meeting their requirements by delivering the most cost-effective quality household utensils into their premises. It aims to be the low-price leader in the mass market of household utensils.
SWC offers approximately 10,000 products ranging from household items like hardware, gardening & electrical equipment, kitchenware to travel accessories and home decor. SWC’s membership program let customers enjoy many privileges.
If you want to learn more about P2P financing or apply for a financing, please sign up at https://www.alixco.com/
If you want to learn more or visit SWC or visit their stores, you can find more information on http://www.swc.com.my/