The Malaysian economy ranked at 36th in the world as of 2022, which has led to plenty of growth and development that has seen a rise of best business in Malaysia.
This makes it the perfect country for startups looking to gain their footing.
Curious to know what are the top Malaysia startup company brands?
The Malaysian startups listed in this article are the best examples of this, with each coming from different industries that may be relevant to what you’re looking for and aiming to learn from.
23 Start Up Company in Malaysia Of 2023
1. Paywatch
Paywatch is a fintech startup that has enabled businesses to provide employees with real-time paycheck access based on the hours worked.
This enables the employees to take their pay whenever they choose, helping employees with financial planning. With this flexibility, employees are able to pay their bills on time and handle financial emergencies. For businesses, this means fewer turnovers and absenteeism, and more productivity.
The startup has received a total of USD$14.2M coming from eight investors. The business’s most recent round of fundraising occurred in February 2023.
Year Founded: 2018
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Alex Kim, Richard Kim
2. MyMy
MyMy is a financial technology company specializing in digital payments and financial inclusion from all walks of life in Malaysia, especially foreigners working in Malaysia struggling to open a bank account.
Users can register using their MyKad or Passports, where transactions can be done digitally, even for daily purchases and expenditures.
MyMy is funded by Koperasi Tentera and has raised a total of USD$5.1M in funding, with the latest funding raised on Oct 6, 2021, from a Seed round.
Year Founded: 2018
HQ: Kuala Lumpur, Malaysia
Size: 1-10
Founder(s): Kishore Samuel, Joe McGuire
3. GuruLab
GuruLab is a digital technology platform that offers insight into the English language to help students and teachers perform better.
Be it PT3, SPM, or IGCSE, the platform aims to prepare children for their future. Parents can also use the platform to keep an eye on their child’s development.
The startup has already received USD$1M from Maxis in seed funding.
Year Founded: 2021
HQ: Kuala Lumpur, Malaysia
Size: 1-10
Founder(s): Kai Song Eer, Vicky Tan
4. Simplify
Simplify is a peer-to-peer internet sharing application that transforms personal hotspots and residential broadband into a global WiFi network. By redirecting excess Internet bandwidth to connect more people, consumers effectively become their own Internet Service Providers.
Since half of the world’s population still lacks access to the Internet, the objective is to make it more affordable and widely available.
Simplify has so far raised a total of USD$700k with their most recent funding received on September 30, 2022.
Year Founded: 2016
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Yen Pei Tay
5. Zoom
Zoom is a Malaysian logistics startup that provides real-time on-demand delivery to customers, enterprises, retailers, and internet shoppers. The platform optimizes the quickest route for the product by using an algorithm to guarantee delivery to the closest Zoomer.
Funding for the firm has so far totaled RM4M, headed by Gobi Partners. Cana Asia, Spiral Ventures, and Cradle Fund are a few additional investors who are taking part.
Year Founded: 2016
HQ: Petaling Jaya, Malaysia
Size: 11-50
Founder(s): Jeevan Kumar, Sean Lee
6. ServisHero
ServisHero helps you hire office & home service professionals such as office cleaners, movers, aircon technicians, plumbers, and more, all with the tap of a button.
The company wants to improve lives and businesses throughout Southeast Asia by fostering human productivity and connectivity. For small and medium enterprises, ServisHero has been successful in democratizing access to digital marketing Malaysia.
ServisHero has raised a total of USD$2.7M in funding, with the latest funding being on June 28, 2016, from a Non-equity Assistance round.
Year Founded: 2015
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Adam Burmister, Jason Kang, Karl Loo, Nicole Sia, Paul Copplestone
7. WowShop
WowShop is a content commerce company that operates a home shopping business and e-commerce through various platforms such as television, mobile, and e-commerce. Their ultimate goal is to WOW customers further and to bring joy to every Malaysian home.
Related: How to Start a Successful E-Commcerce Business
WowShop is currently funded by FJ Labs for an undisclosed amount.
Year Founded: 2016
HQ: Kuala Lumpur, Malaysia
Size: 101-250
Founder(s): Media Prima Bhd
8. Imortgage2u
Imortgage2u offers pre-loan screening for loan providers such as real-estate developers, property, and insurance agencies. This helps them determine the max loan eligibility amounts that can lead to reduced risk.
Imortgage2u has raised a total of USD$824.4k in funding, with the latest funding raised on Jul 1, 2019.
Year Founded: 2016
HQ: Puchong, Malaysia
Size: 11-50
Founder(s): Aw Chee Weng, Janice Ang, Jeffrey Tan Kau Meng, Johnson Au, Johnson Au Weng Wah, Kevin Cheong, Kevin Cheong Kong Ming, Liz Ang
9. Scentses and Co
Scentses and Co is Malaysia’s first designer perfume subscription that helps consumers discover luxury designer fragrances without having to spend on full bottles.
They offer a diverse collection of curated luxury designer fragrances for users to try out for the month without breaking the bank.
Two investors provide funding for Scentses and Co – Pan Malaysia Ventures and Chen Chow Yeoh.
Year Founded: 2020
HQ: Singapore
Size: 11-50
Founder(s): Sabreena Yeong, Sadira Yeong, Sandra Yeong
10. Aonic
In order to advance traditional enterprises, Aonic (formerly Poladrone) is creating an ecosystem of solutions that is future-proof. They offer comprehensive, end-to-end solutions that are suited to a business needs in these five business sectors: agriculture, industrial, services, retail, and academy.
Aonic has raised a total of USD$4.3M in funding, with the latest raised on Oct 25, 2021, from a Seed round.
Year Founded: 2017
HQ: Selangor, Malaysia
Size: 51-100
Founder(s): Jin Xi Cheong
11. CO3
CO3 Social Office Sdn Bhd (CO3) is the leading coworking space in Malaysia that is all about creating the “world’s most loveable workspace”. Their name represents the 3 Core Values of Connectivity, Collaboration, and Community.
Their spaces aim to develop possibilities to meet new people every day, transform online relationships into real-life friendships, and build a community of people who value freedom, dignity, and trust.
CO3 Social Office has raised a total of RM32.7M in funding, with the latest funding raised on Feb 28, 2017 from a Seed round.
Year Founded: 2016
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Chen Hui Yong, Fong Thye Lee, Hong Chee Wong, Jeh Shyan Wong, Kiat Chun Goh, Sew Chuan Teoh
12. Dropee
Dropee is one of the many SaaS-based online retailers in Malaysia. Its platform enables independent retailers to stay in touch with various brands which can be bolstered with the right SaaS marketing. In order to help suppliers provide greater value to their retailers, Dropee also offers logistics services.
Dropee has raised a total of USD$8.9M in funding, their latest raised on Jan 19, 2022, from a Debt Financing round.
Year Founded: 2017
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Aizat Rahim, Lennise Ng
13. Mr. Bur
Mr. Bur operates in the dental industry and serves to create innovative dental bur solutions by offering the highest quality of Dental Burs on the market today. The objective is to provide patients with a better level of care and to handle them more swiftly and effectively.
Mr. Bur has raised a total of USD$4.8M in funding, with the latest funding raised on Sep 1, 2022, from an Angel round.
Year Founded: 2018
HQ: Penang, Malaysia
Size: 11-50
Founder(s): Sean Yau
14. Socar Malaysia
Socar Malaysia is a platform that enables individuals in the nation to effortlessly ride-share, allowing them to drive as needed without having to maintain their own vehicle for transportation.
Their mission is to reduce the number of cars people own through accessible mobility and to promote a greener society throughout the nation and beyond.
Socar Malaysia has raised a total of USD$73.2M in funding, with the latest funding raised on Sep 16, 2021, from a Series B round.
Year Founded: 2017
HQ: Kuala Lumpur, Malaysia
Size: 101-250
Founder(s): Leon Sing Foong
15. Kind Kones
Kind Kones sells plant-based vegan ice cream where every flavor is free from dairy, refined sugar, egg, preservatives, and any artificial additives. Not only is the mission to develop a nice ice cream that’s better and healthier, but it’s also good for the planet.
Kind Kones has raised a total of SGD$2.5 million in funding, with the latest raised on Jan 31, 2022, from a Series A round.
Year Founded: 2017
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Ishpal Bajaj, Serina Bajaj
16. Lapasar.com
Lapasar is an online tool for supply chain management that aims to assist companies improve productivity and, as a result, profit margins. It aims to streamline and digitize the entire procurement process, which can help buyers improve their corporate governance.
Lapasar.com has raised a total of USD$2.5M, with the latest funding raised on May 7, 2021, from a Seed round.
Year Founded: 2016
HQ: Sungai Buloh, Malaysia
Size: 11-50
Founder(s): Lakshman Das, Thinesh Kumar
17. Zetpy
Zetpy enables online merchants to manage various e-commerce platforms from a single dashboard. With the use of this panel, top e-commerce marketplaces like Lazada, Shopee, TikTok Shop, Zalora, and shopping carts like Shopify, WordPress, and Magento can sync their products, inventories, customers, and orders.
Zetpy is funded by Pawoot Pom Pongvitayapanu for an undisclosed amount.
Year Founded: 2019
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Adrian Oh
18. Food Market Hub
Food Market Hub uses smart ordering and cost-management data to help F&B businesses deal with hidden expenses and pricing increases in the industry.
Their app enables real-time COGS identification for restaurant owners, control over ingredient pricing, and even waste reduction. They also claim their program helps increase profitability by over 12%.
FoodMarketHub has raised a total of USD$13M in funding, with the latest funding raised on Dec 2, 2021, from a Series A round.
Year Founded: 2017
HQ: Petaling Jaya, Malaysia
Size: 51-100
Founder(s): Anthony See, Shayna Teh
19. PolicyStreet
PolicyStreet helps streamline the insurance purchasing process by providing a platform that helps users choose what suits them best. The goal is to make the renewal process easier and better. They are licensed by Bank Negara Malaysia.
PolicyStreet has raised a total of USD$9.5M in funding, with the latest funding raised on Sep 28, 2021, from a Series A round.
Year Founded: 2016
HQ: Kuala Lumpur, Malaysia
Size: 51-100
Founder(s): Wilson Beh, Winnie Chua, Yen Ming Lee
20. Fashion Library Berhad
Fashion Library Berhad is the main company for Flib Collection, which is one of the largest clothing rental platforms in Malaysia.
They offer a range of clothing options for rent, including rented winter clothing, women’s workwear, and evening gowns. The goal of offering rental is to lessen clothing waste brought on by excessive consumption.
Fashion Library Berhad has raised a total of RM7.2M. Their latest funding was raised on Dec 8, 2018, from a Pre-Seed round.
Year Founded: 2017
HQ: Petaling Jaya, Malaysia
Size: 11-50
Founder(s): Jeh Shyan Wong, Lai Chu Low, Lai Youn Low
21. Newswav
Newswav is a Malaysian online content aggregator that gathers its content from many web sources.
The company’s platform enables users to receive a more personalized service where the user’s preferred news and content appear for them, which includes localized and multilingual structure.
Newswav has raised a total of RM6M in funding on Jan 18, 2022, from a Series A round.
Year Founded: 2017
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Wai Hoow Swee
22. Pandai
Pandai aims to help students get better grades by providing an education platform that makes learning fun. They offer gamified quizzes and personalized learning across various subjects.
Their platform has three modes: students, teachers, and parents, all of which can be used to help students do better in their educational journey.
Pandai has raised a total of USD$2M in funding, with the latest funding raised on Jan 5, 2022, from a Seed round.
Year Founded: 2019
HQ: Kuala Lumpur, Malaysia
Size: 11-50
Founder(s): Akmal Akhpah, Khairul Anwar Mohamad Zaki, Suhaimi Ramly
23. Ellegra
Ellegra is an online personal styling service, where users can take a quiz to define the style and clothes they want, after which a personal stylist will select 5 hand-picked items and deliver them to the user. Users will only have to pay for whichever piece of clothing they decide to keep.
Ellegra has raised a total of USD$100k in funding, with the latest funding raised on Nov 2, 2021, from a Seed round.
Year Founded: 2020
HQ: Kuala Lumpur, Malaysia
Size: 1-10
Founder(s): Gwen Delhumeau
FAQs for Malaysia Start Up Companies
How to Start a Startup in Malaysia?
Starting a startup in Malaysia can be an exciting yet challenging journey, with many steps you will need to take.
If you’re wondering how to start a small business in Malaysia, start by identifying your business idea, market research and tactical planning, and even developing a business plan.
You will also need to do business registration and register Malaysia company name, look into bank account opening and secure funding. From there, you can build your team of talented and dedicated individuals to help you achieve your goals and launch your product or service.
What is an Example of a Startup Company?
There are many examples of a startup company, with this article listing many of the local startup Malaysia. The more popular business start ups that are well-known internationally include Airbnb, Google, Amazon, Facebook, Uber, and more.
What Is The Average Startup Investment in Malaysia?
The average funding for startups Malaysia can vary widely depending on various factors such as the industry, the size and stage of the company, and the funding source such as venture capital.
However, based on recent data, the average startup funding Malaysia is around RM1.5 million to RM2.5 million.
What is the Best Start Up Business in Malaysia?
The best startup business in Malaysia depends on various factors such as market demand and industry trends.
As of recent years, the start ups in industries such as food and agriculture technology companies in Malaysia, tech businesses, enterprise software, and e-commerce business have shown the most promise in this country, and have also received the most funding overall.
Get Your Malaysian Startups Seen Online
If you’re already working on your startup business in Malaysia and need help boosting your digital brand presence, you may be wondering how to choose a digital marketing company to help you succeed.
The right company should help you achieve your marketing goals and help push your product or service to the right target market.
With over 10 years of experience in areas such as social media marketing, website design, creative design, and branding, One Search Pro has the expertise to make all that happen we can do all that.
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2 Responses
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