Nuren Group achieves listing status, a milestone under MDV’s Venture Debt Programme
Media Statement
05/09/2024
MDV's Senior AVP of Venture Finance, Filzah Razak (second from left), and Senior VP of Venture Finance, Farid Mohd Rosli (third from right), at the milestone event celebrating Nuren's debut on the National Stock Exchange of Australia. - MDV
MDV's Senior AVP of Venture Finance, Filzah Razak (second from left), and Senior VP of Venture Finance, Farid Mohd Rosli (third from right), at the milestone event celebrating Nuren's debut on the National Stock Exchange of Australia. - MDV
KUALA LUMPUR: Malaysia Debt Ventures Berhad (MDV), a subsidiary of the Minister of Finance (Incorporated) [MOF (Inc)] and an agency under the purview of the Ministry of Science, Technology and Innovation (MOSTI), reinforces its position as the leading technology financier in the start-up ecosystem as Nuren Group becomes the first start-up company under its Venture Debt programme to be listed on the National Stock Exchange of
Australia (NSX).
Nuren Group, a premier digital platform committed to empowering women in parenting, education, and maternity wellness, is among the earliest cohorts of technology start-ups to have secured funding under MDV’s pioneering Venture Debt Programme to scale its operations and expand its market presence across the region during the early stages of its business.
In 2018, MDV introduced Malaysia’s first-ever Venture Debt Programme, marking a significant shift from the company’s traditional financing offerings. Designed as a complementary financing option to venture capital, the programme provides high-potential, early-stage start-ups with essential growth capital while minimising equity dilution. Additionally, financing under this programme is also available in a Shariah-compliant model, underscoring MDV’s commitment to supporting the diverse needs of Malaysia’s burgeoning start-up ecosystem.
During the launch of its Initial Public Offering (IPO) on NSX earlier in the month, Nuren Group successfully raised a total of AUD 700,000, with the offering being oversubscribed by AUD 100,000, showcasing strong investor confidence and interest in the company's future. With this financial boost, Nuren Group plans to invest in cutting-edge technologies and advanced solutions that will drive further enhancements in its digital platforms.
“Nuren Group’s successful listing on the NSX is a strong indicator of the high potential of our homegrown start-ups to achieve success beyond our borders and exemplifies their determination and adaptability in scaling their operations. We are proud to witness how much Nuren Group has grown in their market presence and significance within the digital platform sector. We are pleased to have been part of their growth journey and look forward to continuing our support as they enter their next phase of expansion”, said Rizal Fauzi, Chief Executive Officer of MDV.
Rizal Fauzi, Chief Executive Officer of MDV underscores the programme’s importance as a vital alternative funding option for local technology start-ups to scale up. - MDV
Rizal further highlighted that MDV’s funding support, extended to Nuren Group through its Venture Debt programme, was critical to the company’s growth and success, underscoring the programme’s importance as a vital alternative funding option for local technology start-ups to scale up.
“As a dedicated technology financier, MDV is committed to ensuring that access to funding is more inclusive across all stages of business development particularly for technology start-ups, as evidenced by our Venture Debt programme. We hope that Nuren Group’s success will inspire other high-potential technology start-ups to innovate and contribute to the overall growth of the start-up sector, in alignment with the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030,” he added.
To date, Nuren Group has gathered more than 5,000 merchants/brands and 5 million active users across Malaysia, Singapore, and Thailand on its digital platforms. These platforms include Motherhood.com.my, Motherhood SuperApp, Kelabmama.com, Ibuencer.com, and Wedding.com.my. Nuren Group’s IPO success not only reflects its vision and dedication but also sets a benchmark for excellence in the maternity and parenting sectors.
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