KUALA LUMPUR, 21st June 2024 (TheCapitalPost)– BROKU, Malaysia’s premier food and beverage (F&B) branding and marketing strategist, is spearheading a campaign to raise RM 20 million in funds to fuel its expansion over the next 12 to 18 months. This ambitious goal aligns with the impressive 13.5% growth in Malaysian F&B kiosks and stalls throughout 2023, as reported by Retail Group Malaysia. This surge in the sector underscores BROKU’s mission to support, structure, and empower Malaysia’s F&B MSMEs.
Launching Broku.com: A Digital Marketplace for F&B
As part of its expansion efforts, BROKU is introducing its flagship product, Broku.com, a digital marketplace tailored specifically for the F&B industry. This platform utilizes data-driven technology to customize user engagement and drive traffic to merchant outlets, aiming to list 50,000 merchants within the next 12 months.
Since its inception, BROKU has transformed nearly 10,000 restaurants, providing essential support and resources for their growth. In addition to the RM 20 million fundraising campaign, BROKU has already secured RM 2.566 million through angel investors. This influx of capital will enable BROKU to expand its Malaysian team, enhance marketing efforts, improve customer acquisition strategies, invest in technology, and bolster operational infrastructure.
Enhancing Technological and Operational Capabilities
The additional funding will allow BROKU to channel more resources into marketing and strengthen its in-house technological infrastructure. This will support the growth of its partner restaurant network and ensure the successful rollout of Broku.com. Founder Ku Addyfazly Ku Radin (Broku) expressed his excitement about this new phase, stating, “Personally, I have spent over two decades of my career in the entrepreneurship space – specifically in the food and beverage sector – but this is a brand new, monumental, and life-changing milestone not just for me, but for the company. It has been such an honor to help local F&B MSMEs turn their businesses around since 2020, especially thinking about how I would have appreciated access to the amount of resources and knowledge a brand like BROKU can provide at the beginning of my entrepreneurial journey.”
Bridging the Financing Gap
BROKU aims to leverage its extensive collection of transactional data and key performance metrics to bridge the financing gap for underserved and underbanked F&B merchants. This initiative addresses the RM 90 billion financing disparity between large corporations and Malaysian MSMEs. To further support this mission, BROKU launched the BROKU Licensing Program (BLP) in April 2023.
The BLP has already assisted 200 companies in various stages of growth, providing essential business skills, enhancing online presence through marketing and advertising, and optimizing supply chain management with cutting-edge technology. Additionally, the program boosts financial literacy among F&B merchants, helping them navigate financial documentation and management.
Empowering Local Entrepreneurs
This specialized F&B business incubation program offers participants access to BROKU’s extensive industry network and a 24/7 centralized knowledge hub. Designed to upskill and upgrade the capabilities of local F&B entrepreneurs, the BLP aims to assist 3,000 merchants, with 86% of participants experiencing growth between 35% and 90%. The program has already resulted in a cumulative RM 15 million revenue increase for its merchants.
“I am proud to say that we actually saw a 35.6% average increase in revenue for our program participants so far,” adds Broku. “With this funding goal, we hope to be able to reach out to even more local MSMEs and ultimately supercharge the Malaysian F&B scene with business-savvy, world-wise entrepreneurs who will experience sustainable, consistent growth moving forward.”
For more information on BROKU’s funding efforts, visit www.pitchin.my/equity/broku, and to learn more about BROKU, visit www.broku.my.
-TheCapitalpost