Asia-focused venture capital firm Gobi Partners has become the lead investor in Malaysian reseller digital ecosystem Ejen2u‘s Pre-Series A funding round, alongside Artem Ventures.
Gobi Partners and Ejen2u said in a statement on Tuesday that this investment was made possible through the Khazanah Nasional Bhd (Khazanah)-backed Gobi Dana Impak Ventures (GDIV) fund.
Looking ahead, Ejen2u’s vision is to lead the way in agent solutions in the Malaysian market, empowering aspiring merchants of all backgrounds for success.
Their plans include expanding their product catalogue to cater to various segments of the direct-to-consumer industry including drop shipping, online storefronts and setting up fulfillment services.
Ejen2u, founded by Sheikh Ezaiddin, Imran Hadi, and Taufiq Zakir, brings over 50 years of combined entrepreneurship and reseller industry experience.
As Malaysia’s homegrown reseller digital ecosystem, the firm plays a pivotal role in aiding micro, small, and medium enterprises (MSMEs), including brand owners, stockists, agents, and drop shippers, in elevating their business endeavours.
Ejen2u provides a comprehensive suite of services, including a cloud-based reseller management platform, a reseller education platform, a reseller-based venture builder, and several innovative fintech solutions.
The platform stands as Malaysia’s leading one-stop center for agent and reseller management through its three primary offerings:
● EjenGO, a Software as a Service solution empowers Small and Medium Enterprises (SMEs) and brand owners amassing over 500 clients and achieving a remarkable gross merchandise value of $125 million.
● EjenVenture caters to large enterprises and brands to help them build their own reseller distribution channel.
● Women Empowerment Entrepreneurship Programme (WeMap), a program that aims to upskill women entrepreneurs, with over 100 topics. Launched in 2022, they have served 249 clients and have educated more than 15,000 participants on over 100 topics such as marketing strategy, video and photo editing, sales, business management and
others.
Currently, Ejen2u’s platform serves over 340,000 resellers across Malaysia, including 600 women leaders since its 2019 inception.
Nearly 85 percent of Ejen2U’s users are women looking to generate additional income while staying at home to care for their children.
“While our EjenGo platform serves as an initial attraction for our clients, our true differentiator lies in our holistic approach beyond technology,
“This includes our comprehensive soft skills workshops and the impactful WeMap program for women who represent 85 percent of our users,” Ejen2u Founder and Chief Executive Officer Sheikh Ezaiddin said.
“We firmly believes that the core strength of any brand resides in its human capital,
“By relieving our clients of burdensome bookkeeping tasks, we empower their agents and resellers to represent the brand more effectively, leading to enhanced sales and overall brand growth,” he added.
Ejen2u’s strategic investors are also bullish on the firm’s capabilities going forward and the impact it creates for domestic MSMEs.
“Ejen2u is a promising portfolio company that we hold to be particularly valuable, especially in the increasingly digital future,
“By helping domestic SMEs reach their fullest capabilities, we’ll be able to see a wider effect ripple across our local economy, and become competitive on a regional, or even global level,” Gobi Partners Managing Partner (Malaysia) Jamaludin Bujang said.
Meanwhile, Artem Ventures Managing Partner Low Zhen Hui said that Ejen2u is an inclusive platform that empowers underserved entrepreneurs to participate in the burgeoning social commerce industry, leading to wealth generation and further national economic contribution.
“Nevertheless, as this segment remains vulnerable to shocks, we are committed to bridging their access to increased financial security and welfare protection,” he said.
It is noted that GDIV is part of Khazanah’s Future Malaysia Program (FMP), an initiative under the sovereign wealth fund’s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem.
Dana Impak is a key pillar of Khazanah’s Advancing Malaysia strategy that aims to deliver socioeconomic impact for Malaysia across six themes – Digital Society and Technology, Quality Health and Education for all, Decent Work and Social Mobility, Food and Energy Security, Building Climate Resilience, and Competing in Global Markets.
With Ejen2u’s efforts to educate and uplift local businesses within the digital economy, the company aims to support the inclusive growth of Malaysian MSMEs and the entrepreneurs
behind these businesses.