Israeli global equity crowdfunding platform OurCrowd has been awarded a full Capital Market Services (CMS) license from the Monetary Authority of Singapore (MAS). With the license, OurCrowd is now able to market its equity crowdfunding platform in Singapore.
Receipt of the license is part of OurCrowd's targeting of Asia as a huge potential market for alternative investment in promising startups. As part of this, last March Singapore's United Overseas Bank (UOB) invested US$10 million in Jerusalem-based OurCrowd, which invests in startups with differentiated and highly scalable technology products and services.
Through this collaboration, innovative Asian companies with differentiated and highly scalable technology products and services will now get access to another source of funding through OurCrowd’s equity crowdfunding platform. Through equity crowdfunding, they can seek relatively small investments from a large number of investors in return for equity or shares in their startup company. It provides them with the funding needed to develop their concepts, products and services into viable business models. Moreover, they can also tap into OurCrowd’s global investor network to jumpstart their international expansion and business development.
OurCrowd Partner and Managing Director, Asia Denes Ban said, “Our latest approval and licence in Singapore is further validation of OurCrowd’s global footprint and it’s exciting to see immediate and impactful results, thanks to our partners at UOB and the Sassoon Investment Corporation (SIC). Singapore-based investors will now have access to our portfolio of world-class startups and tap their growth potential.”
Launched in 2013, OurCrowd has raised more than $250 million for investment in almost 100 companies, and has already had eight companies in their portfolio either acquired by a multinational or listed publicly. Unlike traditional equity crowdfunding platforms, OurCrowd invests its own capital alongside the crowd investors in each deal as testament to their confidence in the deal. By offering investors the same terms (valuation, liquidation reference and protection) as venture capital funds, it offers accredited investors access to unrivalled investment opportunities. OurCrowd also provides post-investment support to its portfolio companies, assigning industry experts as mentors.
OurCrowd Founder and CEO Jon Medved said, “We are proud of the rapid growth of our unique brand of equity crowdfunding and teaming up with UOB to advance the cutting edge of FinTech and the startup ecosystem in the region. As we work together, innovative Asian companies with differentiated and highly scalable technology products and services will be able to get access to another source of funding from a global investor network to jumpstart their international expansion and business development.”
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2016
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