# MTV Sdn Bhd

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mtv-sdn-bhd

- Industry: Internet
- Headquarters: Subang Jaya, Malaysia
- Website: www.dropee.com
- Total disclosed funding: $1.8M
- Latest round: Seed (Jul 20, 2020)
- Investors on record: 6

## About

MTV Sdn Bhd operates Borong, a procurement platform that enhances the wholesale purchasing process for retailers and SMEs across Southeast Asia, enabling efficient and competitive transactions.Founded in 2017 in Subang Jaya, Malaysia, MTV Sdn Bhd specializes in streamlining retail procurement through its Borong platform. The company has conducted 8 deals as of January 20, 2022, with its most recent funding round resulting in USD 3.00 mn raised from investors including Vynn Capital and Brama One Ventures. CEO Lennise Ng, who also co-founded the firm, has previously been involved in other entrepreneurial ventures.Borong provides a comprehensive procurement platform facilitating wholesale purchasing for retailers and SMEs. It features a vast inventory of over a million wholesale products, alongside services for optimizing retail operations like pricing strategies and inventory management. While primarily focused on Malaysian clients, Borong also caters to neighboring Southeast Asian markets, promoting effective procurement solutions for a diverse clientele.In the most recent financial year of 2023, Borong reported a revenue of USD 51.38 mn, with an EBITDA of USD -546,311.6. This revenue was generated through a B2B model that supports transactions between suppliers and retailers, facilitating bulk purchases at wholesale prices.Following its last funding round in January 2022, MTV Sdn Bhd plans to utilize the raised USD 3.00 mn to enhance financing offerings for wholesalers and retailers over the next 12 months. The company is expected to focus on launching new products aimed at improving procurement efficiency and is considering expansion into additional Southeast Asian markets, with specific targets yet to be announced.

## Funding rounds

- Seed, Jul 20, 2020, $1.3M — Y Combinator, Colopl Next, Vynn Capital, Ondine Capital, Brama One Ventures
- Seed, Mar 12, 2020, $0.1M — Y Combinator
- Seed, Jan 17, 2019, $0.3M — Vynn Capital, Prasetia Dwidharma

## Investors

- Vynn Capital (https://capitalatlas.ai/funds/vynn-capital) — Seed
- Prasetia Dwidharma (https://capitalatlas.ai/funds/prasetia-dwidharma) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Colopl Next (https://capitalatlas.ai/funds/colopl-next) — Seed
- Ondine Capital (https://capitalatlas.ai/funds/ondine-capital) — Seed
- Brama One Ventures — Seed