Kunkwan Capital Sdn. Bhd. (“Kunkwan”) is a Malaysia-based Mandarin education platform focused on helping non-native adult learners acquire practical Mandarin communication skills.

Founded in 2013, Kunkwan has built one of the largest Mandarin learning communities for adults in Southeast Asia, with over 442,652 registered learners.

The company focuses on practical communication through its teaching philosophy of “Listening and Speaking First, Reading and Writing Later.”
Through its digital-first learning platform, Kunkwan delivers structured Mandarin education that allows working adults to learn flexibly while maintaining a clear curriculum pathway aligned with international Mandarin standards.

Kunkwan is now raising RM1.6 million – RM2.0 million through Equity Crowdfunding to support product development, regional expansion, and localisation initiatives, with Indonesia identified as the next major growth market.

Problem

Despite increasing economic ties between China and Southeast Asia, a large portion of the population still lacks practical Mandarin communication skills.

Key challenges include:

  • Limited access to structured Mandarin learning programs designed for adults
  • Traditional Mandarin education focuses heavily on reading and writing rather than practical communication
  • Working professionals require flexible learning formats that traditional classroom systems cannot provide
These gaps create a growing demand for accessible and practical Mandarin learning solutions.

Solution

Kunkwan provides a structured Mandarin learning platform designed specifically for adult learners.

The program focuses on practical communication skills through:
  • Listening and speaking proficiency
  • Real-life conversational usage
  • Structured curriculum aligned with international Mandarin learning standards
By delivering classes through an online platform, Kunkwan enables learners to attend classes flexibly while maintaining consistent teaching quality.
This digital learning model allows the company to scale efficiently across Southeast Asia without requiring heavy physical infrastructure.

Product

Kunkwan provides a structured online Mandarin learning pathway designed specifically for non-Mandarin speaking adults.

Stage 1 – Mandarin Communication Program

This stage focuses on practical listening and speaking skills, enabling learners to communicate in everyday and professional situations. The program consists of four progressive levels – Beginner, Intermediate, Advanced and Professional
Classes are conducted once per week (2 hours), providing a flexible learning schedule for working adults.
The program typically takes around 12 months to complete.

Stage 2 – Chinese Character Recognition Program

After developing conversational skills, students may continue to the Pro MAX Program, which focuses on Mandarin reading and Chinese character recognition. Learners will:
  • Recognise 600+ commonly used Chinese characters
  • Understand basic Mandarin reading materials
  • Prepare for HSK Level 3
This stage typically takes around 7 months.

Learning Outcomes

Upon completing the learning pathway, students are able to:
  • Communicate confidently in Mandarin
  • Understand commonly used Mandarin expressions
  • Recognise and read basic Chinese characters
  • Progress towards HSK Mandarin certification

Traction

Kunkwan has demonstrated strong traction since its establishment.

Key performance highlights include:

  • 442,652 registered learners across Southeast Asia
  • 5,100 annual paying students
  • 1,065 monthly active paying students
  • Average Revenue Per User (ARPU): RM1,600
  • Student retention rate: 75%

Financial performance:

  • FY2025 Revenue: RM8.2 million
  • FY2025 Net Profit: RM538,000

Business model efficiency:

  • Customer Acquisition Cost (CAC): RM200
  • Customer Lifetime Value (LTV): RM2,000
  • LTV / CAC Ratio: ~10x
  • Gross Margin: ~92%

Malaysia currently serves as the company’s core market and validated operating model.

Customers

Kunkwan primarily serves non-Mandarin speaking adults seeking practical Mandarin communication skills.

Core customer segments include:

  • Working professionals
  • Entrepreneurs and business owners
  • Young professionals seeking career advancement
Many learners are motivated by increasing business opportunities with China and Mandarin-speaking markets.

Customer Acquisition Strategy

Kunkwan acquires new students through a combination of digital marketing, community referrals, and structured introductory programs.

Key acquisition channels include:

  • Social media marketing and digital advertising
  • Free introductory webinars and trial classes
  • Referrals from existing students and alumni
Over time, Kunkwan has built a strong learner community that supports organic growth and student referrals.

Business Model

Kunkwan generates revenue through multiple structured program offerings.

Primary revenue streams include:

1. Prepaid Learning Programs

Students enroll in structured Mandarin programs priced between RM299 – RM3,888, depending on course level and duration.

2. Subscription Learning Program

A low-entry subscription program priced at RM9.90 per month allows learners to experience the platform before upgrading to full programs.

3. Annual Membership Program

The Kunkwan Master Class membership provides continuous learning opportunities and advanced workshops with an annual membership fee of RM1,200.

Sales and Marketing Structure

Kunkwan operates a performance-based sales structure designed to scale student acquisition efficiently.

The system consists of three key roles:

A. Chief Leaders (CL)

Senior leaders responsible for managing business units and overseeing team performance.

B. Brand Leaders (BL)

Team leaders responsible for supervising outreach teams and coordinating sales activities.

C. Brand Officers (BO)

Frontline promoters responsible for customer outreach and student acquisition.

This commission-based structure without fixed salaries allows Kunkwan to expand its marketing reach while minimising fixed operational costs.

Expansion Strategy

Kunkwan’s next phase of growth focuses on regional expansion and new market development.
Key initiatives include:

1. Indonesia Market Expansion

Indonesia has a population of over 270 million and represents a significant opportunity for Mandarin education.
Kunkwan plans to expand its digital learning model into Indonesia through local partnerships and market localisation.

2. Corporate Training Programs

The company also plans to expand Mandarin training programs for businesses that require employees to communicate with Chinese-speaking partners.

Market

Demand for Mandarin education in Southeast Asia continues to grow due to increasing economic engagement with China.

Malaysia currently serves as Kunkwan’s core operating market, providing a validated business model for regional expansion.
Indonesia represents the next major growth market due to its large population, growing economy, and increasing international trade with China.
Through its digital-first platform, Kunkwan aims to scale its Mandarin education services across Southeast Asia.

Market Size (TAM / SAM / SOM)

Total Addressable Market (TAM)

The global language learning market is estimated to exceed USD 60 billion, with a growing share driven by online learning platforms and digital education solutions. Mandarin learning represents one of the fastest-growing segments due to China’s economic influence and increasing global engagement.

Serviceable Available Market (SAM)

Kunkwan focuses on non-Mandarin speaking adults and working professionals in Southeast Asia.
Malaysia has a population of approximately 33 million, with a large number of non-Mandarin speakers who may benefit from Mandarin communication skills for career development and business opportunities.
Indonesia, with a population exceeding 270 million, presents a significant regional opportunity due to its large workforce, expanding economy and increasing economic interaction with China.

Serviceable Obtainable Market (SOM)

Kunkwan currently targets working adults and professionals seeking practical Mandarin communication skills.
Through its digital learning ecosystem, the company has already reached: 442,652 learners across its Mandarin learning programs since inception.
This traction demonstrates strong demand within the target market and validates the scalability of Kunkwan’s digital learning platform.

Competition

The Mandarin learning market includes several types of competitors:

  • Traditional language centres relying on physical classrooms
  • Private tutors offering customised learning experiences
  • Mobile learning applications focused on self-paced study
Kunkwan differentiates itself by combining structured instructor-led learning with scalable digital delivery, enabling both effective teaching and regional scalability.

Funding

Allocation of Funds

The proceeds from this equity crowdfunding campaign will be utilised primarily for the Company’s regional expansion into the Indonesian market, as follows:

Expansion of 2 Strategic Business Units in Indonesia (40%)

Marketing & Brand Development

Recruitment of local marketing personnel, execution of promotional campaigns, and strategic collaborations to strengthen brand presence in Indonesia.

Kunkwan App Development (40%)

Technology Development

Enhancement, localisation and further development of the Kunkwan mobile application, including translation, payment gateway integration, and AI-based learning features.

Localization for the Indonesian Market (20%)

Working Capital (20%)

General operational expenses to support business expansion and maintain sustainable growth.

Vision

Kunkwan aims to become a leading Mandarin education platform for non-native speakers across Southeast Asia.

The company’s long-term strategy includes:

  • Expanding its digital learning platform across multiple regional markets
  • Growing its student base across Southeast Asia
  • Strengthening its education ecosystem through strategic partnerships
As the company scales its operations, Kunkwan intends to pursue a potential public listing (IPO) to support long-term growth and expansion.

Founders

Team

Investment Terms

You can invest in us with a starting from RM 4,992.06, at a valuation of RM 14.4 mil

*all issuance rounded to whole shares

The current fundraising round values the company at a pre-money valuation of RM14.4 million.
Dividends may be distributed to shareholders based on company performance, subject to the Board of Directors’ discretion.
The investment is structured under a nominee shareholder arrangement, where investors remain the beneficial owners of their shares.

Special Disclosures

Please be advised that KKCSB is currently undergoing a capital restructuring to streamline their shareholding structure for the pitchIN fundraising campaign.
As part of this exercise, all existing Class A, Class B, and Class C shares currently held by individual shareholders will be transferred to and consolidated under pitchIN Nominees into a single class of Ordinary Shares. This transition is designed to simplify corporate governance and post-campaign administration.
Consequently, the final Cap Table reflected upon the close of this round will show these holdings represented by the Nominee entity rather than the individual names currently listed in historical records.

Call To Action

Interested investors who would like to learn more about Kunkwan or discuss the investment opportunity may contact:
WhatsApp Abang Jay

* Source: pitchIN