Eatcosys
Funded

Pre-IPO opportunity to invest in a holistic tech-solution in the evolving F&B landscape

HEADQUARTERS Malaysia
DEAL TYPE Disclosed
DEAL STATUS Funded
DEAL STAGE Pre-IPO
DEAL STRUCTURE Equity (Primary)
MINIMUM INVESTMENT MYR 4,940
FUNDRAISING GOAL MYR 5,000,000
MINIMUM TARGET MYR 500,000
CLOSING DATE 26 July 2021

Investment highlights

Recovery for the F&B industry in a post COVID-19 era

The global food and beverages market is forecasted to grow at a CAGR (2021 – 2023) of 7% to reach USD7.5tr in 2023; pandemic-induced lockdowns have deprived consumers of the opportunity to experience on-premise dining; pent up demand from consumers are expected to drive resurgence of on-premise dining and stimulate growth in the F&B industry, once the COVID-19 pandemic has eased

Providing merchants / retailers with a variety of services

An integrated platform that offers a one-stop solution for the F&B industry; Eatcosys provides merchants and retailers with a variety of services – ranging from food delivery and event bookings to kitchenware and loyalty management solutions

Management team with multiple entrepreneurship experiences across different industries

Founders of Union Chain Holdings, Nardell Group of companies, VMO and MyCookingStory; each of the individuals has more than a decade worth of experience in multiple industries such as F&B, corporate finance, retail marketing and loyalty management solution

Use of proceeds

  • Acquisition of companies
  • Working capital requirements

*Disclosure:
  • Investment made by Investors of this campaign will be done via a limited liability partnership (“LLP”), whereby Investors will hold partnership units in the LLP, that are reflective of their shareholding in Eatcosys. The ratio of one partnership unit to each Ringgit Malaysia invested in Eatcosys will be on a 1:1 ratio

Background

*Investment into Eatcosys will have to be made in incremental amount of MYR130*

  • Established in 2020, Eatcosys is an integrated platform that offers a one-stop tech-solution for the F&B industry
    • Currently, there are a total of 11 solutions listed on the platform that provides different services and solutions to F&B businesses: (1) VMO; (2) Fidelity Funding; (3) FoodAdvisor; (4) FeedMyGuest; (5) “BUSYBODY” channel; (6) Bundle Up; (7) Linear Sense Technologies; (8) Nardell; (9) MyCookingStory; (10) Boozeat; and (11) Malting Point
  • Revenue are classified under 3 main channels: (1) F&B platforms; (2) Data; and (3) Financial Technology
    • Services provided include catering and event venues booking, food delivery, food cast, loyalty and retail management solutions, food search insights, venture capital and money lending
  • Growth strategies include: (1) listing more solutions onto the platform via acquisition of companies; and (2) charging of platform trading fees for a more sustainable revenue stream

Traction

  • In 2021, revenue is expected to reach MYR51.80m, with net profit after tax of MYR4.90m
  • Plans to list on the ACE Market (Malaysia) in 2022, and subsequently, on the Main Market (Malaysia) in 2024 – with a targeted market cap of MYR1bn

Management team

Tham Lih Chung
Chairman

  • Serial entrepreneur who founded Rhombus Connexion, which had >30 establishments and 8 brands in Malaysia, Singapore and Myanmar
  • Founded Union Chain Holdings, a growing coffee chain in Malaysia
  • Strong business acumen and eagle-eye for investment opportunities stem from his experience in corporate finance, investment banking and accounting

Vincent Kok
Group CEO

  • Pioneer of the digital industry in Malaysia, who was involved in the development of a travel e-commerce platform and a travel SIM card e-commerce platform

Eugene Ng
Chief Digital Officer

  • Founded Kuratec.net – specialising in retail business analytics and cloud solutions
  • >25 years of experience in sales and operations

George Wong
Chief Strategy Officer

  • Chief Strategy Officer at Wetokenize and ReactiveLabs

Bernard Tian
CEO of Nardell

  • Seasoned and resourceful entrepreneur, who founded the Nardell Group of Companies in 2006 and has since led the company to serve many financial institutions

Khalid Gibran
CEO of MyCookingStory

  • Founder and Executive Director at Xclusive Promotion, which provides marketing solutions to businesses across Asia Pacific