Greenpro A.I. gears up for first exit after successful ECF campaign

• Raised US$125k from 33 investments, chance for early exit
• Nasdaq’s GreenPro Capital to acquire GreenPro A.I via stock issuance

GreenPro Capital Village Sdn Bhd (Greenpro A.I.), a cloud-based AI accounting solutions provider has closed its successful Equity Crowdfunding (ECF) campaign. The campaign was facilitated by Ata Plus, an ECF platform registered with Securities Commission Malaysia, where GreenPro A.I. raised US$125,000 (RM504,750) - 168% above their target, from a total of 33 investments. Of this amount, US$39,000 (RM157,750) was raised from the Malaysian government through the MyCIF incentive (My Co-investment Fund offers a matching fund investment on a 1:2 ratio). GreenPro A.I. requested their MyCIF drawdown before their campign ended when they hit US$78,000 raised which explains why the matching amount received was US$39,000. Incidently, the MyCIF allocation for 2020 has since run out with GreenPro A.I. being among the last to receive the incentive.

[Ed: Paragraph updated for clarification]

At the launch of their campaign, GreenPro A.I. offered the general public an investment opportunity by offering investors an early exit through their upcoming acquisition by GreenPro Capital Corp, a NASDAQ-listed holding company with a diverse portfolio of businesses in finance and technology.

Delivering upon their promise, GreenPro A.I. is currently preparing the necessary documentation for the acquisition. Its ECF Investors have an opportunity to realise the value of their investment through a redemption of their shares in the form of NASDAQ-listed stock issued by GreenPro Capital Corp at a value of 120% of their initial investment, which is anticipated to occur within the next 12 months.

Cognisant of the financial constraints faced by Small and Medium Enterprises (SMEs) which hamper their ability to hire proper accounting staff, GreenPro A.I. cofounders, CK Lee (pic) and Samson Chow, with over 30 years of collective experience in the financial and accounting sector, developed their unique cloud-based AI accounting solution which would enable cost savings of up to 90% for SMEs.

“We launched our campaign in the true spirit of Equity Crowdfunding - to give the average person the chance to become an investor in upcoming startups with market potential, an opportunity usually reserved for the likes of venture capitalists and angel investors,” said Lee.

“Additionally, owing to the nature of stock markets, our ECF investors have the opportunity to further increase their returns from their investments,” he added.

“It’s heartening to see the hard work put in by GreenPro A.I. come to fruition especially in very challenging circumstances caused by the pandemic” said Kyri Andreou, cofounder and Director of Ata Plus. “GreenPro A.I. met their crowdfunding target in just under 4 weeks, with 96% of the funds raised coming from the Malaysian public. Through their campaign, they have proved that there is a growing appetite for Equity Crowdfunding in Malaysia, especially for companies presenting novel solutions in a rapidly changing business environment,” Kyri added.

GreenPro A.I.’s ECF campaign has enabled the team to shift its operations to Malaysia; with 70% of the funds raised being channeled towards marketing and commercialisation and the remaining 30% reserved for human resource development and the establishment of a business process outsourcing centre.