Eureeca, a Dubai-based global equity crowdfunding platform, has secured $400,000 in a self-crowdfunding round within just 12 days, the company said earlier this week. In the first day alone, the company raised more than 60% of the amount.
A total of 45 investors took part in the financing, with a single person investing more than $100,000, according to data from Eureeca. The crowdfunding round was launched in 26 July and closed early just 12 days later.
Eureeca is regulated by the UK Financial Conduct Authority (FCA), the Securities Commission (SC) of Malaysia, and the Netherlands Authority for the Financial Markets (AFM). The Eureeca platform is used in 36 countries worldwide, mainly the UK and the Middle East, and North Africa (MENA) region, as well as Europe and Southeast Asia. It aims to expand in new markets and to become the world’s leading crowdinvestment platform for emerging markets. A minimum raise on Eureeca starts at $250,000.
The platform connects small and medium-sized enterprises (SMEs) with investors, both institutional and private ones. It enables developing entities to expand internationally by raising new capital. Investors, on the other hand, can build a portfolio with diverse private companies. Eureeca recently secured a crowdfunding insurance policy from insurance and financial services organization American International Group (AIG) that protects investors against issuer theft.
The company was set up in 2011 by Sam Quawasmi and Chris Thomas. It is a founding member of the US-based National Crowd Funding Association (NLCFA). Its services, however, are currently not offered in the US. Eureeca has offices in Dubai, London and Kuala Lumpur.