M’sian Grocery App Jocom Raises Funds Of Over RM17.1mil Via Listing On SG’s 1exchange

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Malaysian grocery mobile app Jocom has announced a successful listing of part of its share capital on Singapore’s first regulated private securities exchange, 1exchange (1X), raising aggregate proceeds of S$5.6 million (over RM17.1 million).

Editor’s Note: Information in the above paragraph has been edited to reflect factual accuracy.

These funds will go towards the Group’s expansion to West Malaysian states like Johor and Penang and to overseas markets including Indonesia and Australia.

The company plans to invest significant resources into developing an AI powered backend system to analyse big data such as demographics, customer preferences and spending power, transforming them into actionable insights for targeted marketing activities.

It will also support delivery logistics, inventory management and merchandise pricing, streamlining of processes, and the generating of cost efficiencies.

With the fresh funds, the company said it’s ready to complete its transformation as a fully-branded online platform and a gateway for both consumers and local producers in Malaysia who want to penetrate the Malaysian market and beyond.

Future Prospects Look Bright

First established in 2015 by co-founders Joshua Sew and Agnes Chua, the grocery mobile app has since grown into an end-to-end platform for grocery shopping in Malaysia.

It has full control over the entire order journey from purchase to fulfilment, and has ownership over the platform, proprietary software, delivery fleet, and storage facilities.

As of today, it boasts 3 million users, 500 vendors, and 15,000 SKUs.

Mobile app aside, a significant portion of Jocom’s business over the last 5 years involved behind-the-scenes operations of virtual shops and order fulfilments on online marketplaces.

During the COVID-19 pandemic, Jocom’s sales leapt 30% YoY, boosted by an increase in online grocery purchases of essential items.

Joshua commented on this, saying, “Our outperformance during Malaysia’s MCO at the height of the COVID-19 pandemic has proven our resilience and relevance as an essential, mobile-enabled business and we believe this is an opportune time to launch an overhaul of our own platform.”

He added, “Funding aside, our new status as a listee on a private securities exchange backed by the Singapore Exchange will also expose Jocom to a new pool of investors and enhance its positioning for more business opportunities in the future.”

Since 2015, Malaysia’s e-commerce market tripled in size to over US$3 billion in 2019, and is projected to reach US$11 billion in 2025, according to the Malaysia Economic and Strategic Outlook Forum 2021.

This, Jocom believes, bodes well for its future prospects. Currently, it’s also already started making inroads in China, channelling the sales of Malaysian products to Chinese consumers.

M'sian Grocery App Jocom通过在SG的1exchange上市筹集了超过1,710万令吉的资金

马来西亚杂货移动应用程序Jocom宣布其部分股本已成功在新加坡第一家受监管的私人证券交易所1exchange（1X）上市，筹集了560万新元（超过1,710万令吉）的收益。

编者注：上段中的信息已过编辑，以反映事实准确性。

这些资金将用于集团扩展到柔佛州和槟城等西马来西亚州以及印度尼西亚和澳大利亚等海外市场。

该公司计划投入大量资源开发基于AI的后端系统，以分析人口统计数据，客户偏好和消费能力等大数据，并将其转化为针对性营销活动的可行见解。

它还将支持交付物流，库存管理和商品定价，简化流程以及产生成本效益。

该公司表示，有了新的资金，它已经准备好完成其转型，成为一个完全品牌化的在线平台，并为希望进入马来西亚市场及其他地区的马来西亚消费者和本地生产商提供了门户。

未来前景一片光明

杂货移动应用程序由联合创始人Joshua Sew和Agnes Chua于2015年首次成立，此后已发展成为马来西亚杂货店购物的端到端平台。

它可以完全控制从购买到完成的整个订单过程，并拥有平台，专有软件，交付车队和存储设施的所有权。

截止到今天，它拥有300万用户，500个供应商和15,000个SKU。

除了移动应用程序之外，在过去五年中，Jocom的大部分业务都涉及虚拟商店的幕后运营以及在线市场上的订单履行。