du-it, a Malaysia-based Islamic fintech company, has launched a crowdfunding campaign in collaboration with Ethis Malaysia, a global Islamic crowdfunding platform.
The campaign aims to support the development of its business to business (B2B) buy now, pay later (BNPL) platform, which will be the first of its kind in Malaysia and one of the world’s first operating in a Shariah-compliant setting.
du-it’s BNPL platform is designed to provide interest-free instalment solutions to businesses, particularly small and micro-sized enterprises in Malaysia. The platform offers a credit limit of up to RM50,000, based on the client’s risk profiling, and allows businesses to obtain approval within minutes.
The crowdfunding campaign is open to everyone and aims to raise a maximum total of RM3million over the course of 90 days. By participating in the campaign, investors can become part of du-it’s mission to provide affordable and accessible financing solutions for small and micro-sized enterprises in Malaysia.
With the funds raised through the campaign, du-it aims to bring its platform to more businesses in Malaysia, further develop its platform, and expand its team across core business-growth roles, helping businesses access on-demand interest-free credit terms and solving the pain points of today’s SMEs.
Shafik Ali, founder and CEO of du-it, commented: “We’re grateful for the opportunity to reach out to a
wider audience and bring our vision to life as we work to transform the way businesses in Malaysia
manage their cash flow more effectively.”
Investors can participate in the crowdfunding campaign by visiting Ethis Malaysia, a global Islamic crowdfunding platform approved by regulators in Malaysia and also present in Indonesia and Oman, together with a charity platform named Global Sadaqah.