We bring the Pasar to you
PasarTap was born out of the famous local KL pasar, Chowkit. Leveraging on 15 years of pasar and grocery supply chain expertise, we offer convenient and cost-friendly digital solutions that aim to replicate your pasar going experience, minus the inconvenience. Backed by a multi-disciplined team of e-commerce & IOT believers, the team brings the Pasar to your mobile or computer screen. After a short idea-validation period, PasarTap went live in March 2016.
What We Do
THE PROBLEM :
Everybody wants the freshest produce and best value for their money when grocery shopping. Traditionally, the Pasar (Malay word for ‘market’) has always been the best place to achieve this. However convenience drives many modern consumers to do their shopping in supermarkets. Convenience comes at a price however – in this case, a significant markup due to profit margins incurred via transactions between farmers, wholesalers and retailers. These additional stages in the supply chain also cause products to lose some of their freshness , and entail a larger carbon footprint due to long-distance transportation and the globalised nature of supermarket supply chains.
OUR SOLUTION :
PasarTap is an e-commerce platform that brings the diversity and value of fresh market produce directly to the consumer via a network of localised vendors. The company offers best value prices by cutting out the middlemen, with maximum freshness and minimum carbon footprint delivered straight to the consumer with the click of a button. Unlike most other e-commerce platforms, their payment model overcomes the challenges of online payment barriers by including Cash On Delivery in addition to its other payment methods, which include online banking, Paypal and Credit Card options. It also allows traditional farmers to reach out to a new and much bigger e-Commerce market, creating a positive benefit both for its customers as well as the local economy. PasarTap aspires to be the choice platform for your total household needs. Partnering up with a big player in the Malaysia’s grocery retail industry, PasarTap also provides non-perishable products as an addition to its lineup of fresh produce.
Why are we different
Maximum freshness and diverse selections at market prices, delivered straight to your door
PasarTap procures products directly from markets, wholesalers, and (for certain items) straight from the farm. We do this to guarantee the most optimum freshness cycle possible, by minimising the time our products take to get from farm to end consumer.
We also offer our customers a far greater selection of products than can be found on a supermarket shelf, using our intimate knowledge and network of local food suppliers to bring the diversity of the pasar to urban consumers. You won’t find the same kind of freshness and diversity of local produce at a supermarket chain, especially not at our prices.
Another thing that sets us apart is the attention we pay to quality. We have trained product specialists (shoppers) in the markets curating purchases to ensure the consistency of quality that we believe is key to building a network of loyal customers who repeatedly turn to us for convenience and quality, delivered at competitive prices.
Our Revenue Model
Direct sales, handling fees and delivery charges
PasarTap’s revenue includes direct sales (20% profit margin), handling fee (10%) & delivery charges (RM3), advertising, licensing & data aggregation.
Our Market Opportunity
Anticipating the future, and revitalising an economy that has served us generations after generations
Malaysia’s e-Commerce market grew 25% in 2013 to a total spend of USD $380 million and is forecast to reach USD $530 million by 2017. The Malaysian grocery market is valued at RM28.8 billion, with the online grocery market valued at RM400 million. This indicates a tremendous room for growth.
PasarTap’s market opportunity is estimated at RM40 million (10% Market Share), aided by the rising trend in digital consumer habits, urbanisation and young consumers (age <44) set to make up 2/3rds of the population by 2030.
These same market opportunities extend regionally. According to the ASEAN Business Advisory Council, only 1% of total retail sales in ASEAN are currently done through the internet, with that figure rising to 8% for developing economies. And with an estimated 400 million middle-class population in South East Asia by 2020, we believe this presents a tremendous potential for market expansion.
In Southeast Asia especially, the Pasar is a regional phenomenon. It has been the heartbeat of big cities for hundreds of years, and as urban expansion continues, we believe there will be an increasing demand for a solution to the the challenge of freshness sacrificed for convenience. Hence this business can be replicated instantly to the other Pasars, all across the region.
Capitalising on a growing e-commerce market through a flexible and scalable model
We are here to re-envision the whole grocery supply chain from farm to customer. Moving Forward, our strategy includes :
YEAR 1: Expanding our digital marketing campaigns, on-ground activation and expansion into five more markets within the Klang Valley, and the development of Apps and website.
YEAR 2 : Cross pollination of online F&B, FAMA, small restaurants and media, cross-brand campaigns and on-going marketing exercise, and expansion to 3-5 main cities nationwide, with Dashboards for our Riders, Shoppers, Partners and Smart TV.
YEAR 3 : A focus on B2B including offices and restaurants, and partnerships with farms, wholesalers and brands with regional on-ground marketing campaigns, plus BRB and white labeling for regional expansion.
A growing base of repeat customers after just five months of operation
We launched service in February 2016 with very minimal marketing and promotion efforts and we achieve the following :
- Month-on-Month growth of 62.5%
- 66% Returning Customer rate
- Secured 50 Suppliers in Pasar Chow Kit
- Secured 10 suppliers in Pasar Selayang
- Secured Revenue of RM 110,000 in 6 months
- 55% increment in basket size per customer in 6 months
- Received 2 investment offers :
- Malaysian corporate investor for RM 1 mil for 20% equity
- Indonesian corporate investor for RM 10 mil for 30% equity designated for Indonesian market expansion.
An experienced team of diverse and relevant talents
FOUNDER & CEO
14 years experience in the food & beverage industry with 13 restaurants under his belt. He is PasarTap’s supply chain expert as well as product specialist.
FOUNDER & CFO
8 years experience in non-profits, the government and the central bank. His great-great grandfather was a Pasar-monger at Pasar Chow Kit in 1930s.
FOUNDER & CTO
A young startup with a Masters Degree from the University of Oxford in Engineering Science. He brings to the team his technical understanding of technology, mathematical models and youthful vibrance.
Digital & Creative specialist with over 14 years experience in New York servicing Fortune 500 companies.
The (MYR) Offer DOWNLOAD TERM-SHEET
Issuer:Essex Energy Sdn Bhd Sdn Bhd - a Private Limited Company
Type of Investment:Ordinary Shares
Pre-Money Valuation:RM 11,400,000
Minimum Offering Size:The issuer intends to raise a minimum of RM 600,000 in this offering
Maximum Offering Size:The issuer intends to raise a maximum of RM 1,200,000 in this offering
Price per Share:RM 60 per share
Total Shares Issued in Offering:20% of the enlarged capital or 600,000 of Ordinary Shares
Type of Shares:All shares offered will be Ordinary Shares.
Investor Eligibility:Retail, Angel, Sophisticated and Institutional Investors, as defined by the Securities Commission Guidelines
Information:The issuer will provide additional information upon request
Fund Raising Period:The fund raising period will be for 90 days from the date of online listing
Closing Period:The closing period will be 20 working days after the end of the fund raising period
Use of Proceeds:The proceeds will be used for working capital, marketing and technology. The proceeds will be transferred to the issuer at the end of the closing date
Subscription Procedure:Investors must execute an Investment Agreement with Essex Energy Sdn Bhd Sdn Bhd
(at the end of the fund raising period)
# of Shares % of Enlarged Capital Issued & Paid-Up Ordinary Shares 190,000 80% Ordinary Shares Sold in Offering 10,000 20% 200,000 100%
Ask us More
If you have any questions regarding PasarTap please email us at [email protected]
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