KUALA LUMPUR, 10 October 2023: Asia-focused venture capital firm, Gobi Partners continues its commitment to empowering local entrepreneurs by becoming the lead investor in Ejen2u’s Pre-Series A funding round, alongside Artem Ventures. This investment was made possible through the Khazanah Nasional Bhd (Khazanah)-backed Gobi Dana Impak Ventures (GDIV) fund.
Ejen2u, founded by Sheikh Ezaiddin, Imran Hadi, and Taufiq Zakir, brings over 50 years of combined entrepreneurship and reseller industry experience. As Malaysia’s premier homegrown reseller digital ecosystem, Ejen2u 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 centre for agent and reseller management through its three primary offerings:
– EjenGO, a cutting-edge 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 US$125 million.
– EjenVenture caters to large enterprises and brands to help them in building 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. The program has been impactful, with case studies of agents having improved their income by 200% to 300% post-program.
Currently, Ejen2u’s platform serves over 340,000 resellers across Malaysia, including 600 women leaders since its 2019 inception. Nearly 85% of Ejen2U’s users are women looking to generate additional income while staying at home to care for their children.
Ejen2u Founder and Chief Executive Officer, Sheikh Ezaiddin said: “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% of our users. We firmly believe 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.”
After implementing EjenGO, Nashriq Kassim, Managing Director of Ikhlas Oil Sdn Bhd, experienced a remarkable 70% surge in herbal oil sales. Recognising the platform’s effectiveness, he expanded his subscription to include training and agent management. Nashriq stated, “The EjenGO platform made a significant difference in our sales and agent performance. It streamlined inventory tracking for our agents and facilitated accurate compensation. We also noticed improvements in our agents’ performance after enrolling them in Ejen2U workshops.”
Izzati Shahirah, Stockist Leader for the skincare company Kayman Beauty, has found the EjenGO platform to be immensely advantageous. She shared, “Since becoming an agent and utilising EjenGO for inventory management, my income has seen a substantial increase, surpassing what I earned previously in significantly less time. This platform enables me to efficiently oversee my inventory, monitor the performance of agents under my supervision, and still have ample time to care for my 20-month-old child.”
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 dropshipping, online storefronts and setting up fulfillment services.
Ejen2U’s strategic investors are bullish on the firm’s capabilities going forward and the impact it creates for domestic MSMEs.
Gobi Partners Managing Partner (Malaysia), Jamaludin Bujang said: “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.”
Artem Ventures Managing Partner, Low Zhen Hui, said: “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.”
GDIV is part of Khazanah’s Future Malaysia Programme (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.
Ejen2u, is a homegrown reseller digital ecosystem helping Malaysian micro, small and medium enterprises (MSMEs) brand owner, stockist, agents and dropshippers to increase their business. Ejen2u offers cloud-based reseller management platform, reseller education platform, reseller-based venture builder and few other fintech solutions.
Ejen2u’s platform currently serves more than 340,000 resellers across Malaysia.
Led by co-founders Sheikh Ezaiddin, Imran Hadi and Taufiq Zakir with over 50 years cumulative experience in the entrepreneurship and reseller industry, Ejen2u has enabled income generation which has been a source of empowerment for women. Notably, 600 women leaders and teams drive over US$125 million in sales, exemplifying Ejen2u’s impact on empowerment and business success.
For more information about Ejen2u, please visit https://ejen2u.com