Ficus Capital Invests RM2 Million in Malaysian Tech Startup Simplify, Pioneering Internet Accessibility

KUALA LUMPUR, 1 March 2024 – In a significant boost to Malaysia's rapidly expanding 5G ecosystem, Ficus Capital, leading ESG Shariah Compliant VC, through its Ficus SEA Fund announced its strategic investment of RM2 million in Simplify. This collaboration is set to supercharge the mission of making internet access universally accessible and sustainable, leveraging the country's impressive 80% 5G population coverage.

 

Simplify, at the forefront of peer-to-peer internet sharing innovation, is revolutionizing the way we connect. With Malaysia's 5G network achieving extensive coverage, Simplify's platform is uniquely positioned to enhance internet accessibility, turning every home broadband and personal hotspot into a part of a global community Wi-Fi network. This initiative not only democratizes internet access but also empowers individuals to contribute to a shared digital economy.

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Yen Pei Tay, the tech visionary Founder of Simplify, expressed gratitude for Ficus Capital's investment, stating, “With Malaysia's 5G network reaching new heights, Simplify’s internet sharing platform's potential to bridge digital divides has exponentially increased. This investment will catalyze our efforts to harness 5G speeds for widespread internet sharing, making connectivity more accessible and secure for all.”

 

"Ficus Capital's belief in Simplify underscores the importance of integrating ESG values into the fabric of our business. This new investment will fuel our efforts in making the Internet more accessible, affordable, and secure for everyone. It's a movement towards a more connected and sustainable future.", he added further.

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Simplify boasts the world's most advanced patented technology for internet sharing, offering users a seamless experience with its sleekly designed apps. Whether users are sharing internet bandwidth from smartphones or Wi-Fi broadband, enabling tens of thousands of hosts worldwide to generate gig income. As Malaysia embraces 5G, Simplify users can now share and access internet bandwidth with unprecedented speed and reliability, fostering a more connected community and generating additional income for thousands of hosts worldwide.

 

Rina Neoh, Managing Partner of Ficus Capital, emphasized the alignment of Simplify's vision with Ficus Capital's ethos of supporting innovative and sustainable ventures. "Simplify's innovative approach to internet sharing resonates deeply with our mission of fostering growth and sustainability," said Neoh. "Moreover, Simplify's commitment to enhancing internet accessibility aligns perfectly with our goal of investing in companies that drive positive societal impact."

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Recognized by Fast Company as one of the World's 50 Most Innovative Companies and a winner of NTT Startup Challenge, Simplify has garnered global acclaim for its transformative impact on the telecom industry. With a network of 75,000 hotspots worldwide, Simplify continues to expand its reach and influence, aiming to achieve 500,000 hotspots globally by 2026.

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Reflecting on Simplify's journey, Yen Pei shared insights into the company's evolution. Simplify started with a vision to revolutionize smartphone connectivity, and through collaborations and perseverance, they have commercialized a technology that simplifies the way we connect. His startup journey at MIT brings disciplined entrepreneurship mantra in charting Simplify's roadmap to turn a piece of technology into a proven business model.

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"With the Series B investment from Ficus Capital, Simplify is poised to accelerate the deployment of its 5G Fixed Wireless Access (FWA) solution in collaboration with partner telcos, further promoting internet sharing on a large scale," Yen Pei added. Simplify's rapid deployment approach extends beyond technology, envisioning a future where individuals can share excess Internet bandwidth with Internet of Things (IoT) devices, turning every smartphone into a mini hotspot, every Wi-Fi router into an extended coverage area.

 

As Simplify harnesses the power of 5G, the future of internet sharing looks brighter than ever. This collaboration between Ficus Capital and Simplify is more than an investment; it's a commitment to a more inclusive, connected, and sustainable digital future for Malaysia and beyond.