Aditya Hadi Pratama · · 1 min readMalaysian marketplace for overstock home products bags $566k funding
Homa2U, a Malaysian online marketplace that specializes in overstock building materials and home products, has raised 2.4 million ringgit (around US$566,000) from investors including Kuala Lumpur-based Warisan Quantum Management.
Homa2U team / Photo credit: Homa2U
Founded by Pennie Lim in 2017, Homa2U’s mission to reduce environmental impact of home building. As such, it acquires its inventory from unused construction materials, discarded materials, and overstock markets.
The company also runs Yellow Box, a pop-up store where users can see the products directly. It aims to expand the offline shops to 10 locations in Malaysia by 2022.
At present, Homa2U has around 16 members in its team, and its platform has over 500 professional architects, interior designers, and contractors. It has facilitated more than 20 million ringgit (around US$4.7 million) of transactions of overstock inventories for over 8,000 homes. It plans to reach its target of 100 million ringgit (around US$23.5 million) in deals by 2024.
Prior to this investment, Homa2U joined the second cohort of ScaleUp Malaysia’s Accelerator Program, where they secured investment from ScaleUp Malaysia and Quest Ventures.
Currency converted from Malaysian ringgit to US dollar: US$1 = 4.24 ringgit
Editing by Miguel Cordon and Eileen C. Ang
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