Eureeca

Last updated
Eureeca
Type of site
 Equity crowdfunding
Founder(s) Chris Thomas and Sam Quawasmi
IndustryFinance
URL www.eureeca.com
CommercialYes
Launched2013

Eureeca is an equity crowdfunding platform with presence in Europe, the Middle East and South East Asia that allows early-stage businesses and small and medium-sized enterprises (SMEs) to raise capital from a group of investors, who range from casual and angel investors to institutional firms, in exchange for equity. [1] Eureeca serves as an alternative financing option to more traditional financing sources such as banks and venture capital firms. [2]

Contents

Launched in 2013 by Chris Thomas and Sam Quawasmi, it has since grown into a multi-regulated and cross-continent platform globally with an active investor base of 32,879 from 72 countries with an average investment size of US$5,800.00. [3]

51 early-stage businesses and SMEs have successfully raised capital through the platform.

Model

Eureeca utilises an "all or nothing" fundraising model, which requires campaigners to hit their targeted fundraising amount during a 90-day campaign period in order to collect the funds. In the event that the target amount is not reached, members of the crowd who have already invested in the business will have their funds credited back to their Eureeca account for future use. [1]

Eureeca has implemented a "Minimum Target" policy, which allows campaigners to specify a minimum target lower than their total one. This is based on milestones specified in the offering. Companies utilising this target will have it clearly marked on their proposals, and will be allowed to keep anything they raise beyond it. [1]

Funded campaigns

Hundreds of early and later-stage companies have been listed and funded via the platform.

Eureeca Limited is authorised and regulated by the Financial Conduct Authority in the UK (No. 624555). Eureeca SEA is authorised and regulated by the Securities Commission in Malaysia as a registered electronic facility (Equity Crowdfunding Platform) under s34 of the Capital Markets and Services Act 2007. Eureeca DIFC Limited is authorised and regulated by the DFSA in Dubai, UAE (F006024) to carry on authorised financial services and hold or control client assets. We are authorised and regulated by the UK FCA to provide Equity Crowd Funding services and to hold your client funds in our segregated client accounts.

Regulations

Eureeca Limited is authorised and regulated by the Financial Conduct Authority in the UK (No. 624555). Eureeca SEA is authorised and regulated by the Securities Commission in Malaysia as a registered electronic facility (Equity Crowdfunding Platform) under s34 of the Capital Markets and Services Act 2007. Eureeca DIFC Limited is authorised and regulated by the DFSA in Dubai, UAE (F006024) to carry on authorised financial services and hold or control client assets. We are authorised and regulated by the UK FCA to provide Equity Crowd Funding services and to hold your client funds in our segregated client accounts.

Recognition

In September 2013 Eureeca co-founders Chris Thomas and Sam Quawasmi were presented with the "Innovator of the Year" award Gulf Business Industry Awards in the United Arab Emirates. [4] In December 2013, Eureeca was named "StartUp of the Year" at the first annual Arabian Business StartUp Awards in Dubai. [5] In October 2016, Eureeca was named in the "Forbes Top 50 UAE Start Ups To Watch”, placing 3rd in the list. [6]

See also

Related Research Articles

<span class="mw-page-title-main">Dubai International Financial Centre</span> Special economic zone in Dubai

The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai covering 110 ha, established in 2004 as a financial hub for companies operating throughout the Middle East, Africa, and South Asia (MEASA) markets. DIFC is regulated by the Dubai Financial Services Authority, an independent regulator exclusive to the zone, and by its own court system, DIFC Courts, separate from the Emirate of Dubai's legal system and that of the federal government of the UAE. DIFC follows the common law framework and operates in English. The freezone houses financial institutions, and wealth funds in addition to retail and hotel space dedicated to the free zones.

Nasdaq Dubai is a Dubai-based stock exchange that lists regional and international shares in the Middle East. Through the exchange, regional issuers can access regional and international investment. International issuers can access investment from the region, through a primary or dual listing.

EFG Hermes Holding S.A.E. is an Egyptian financial services company present in the Middle East, North Africa, Sub-Saharan Africa, and South Asia regions and specializes in securities brokerage, asset management, investment banking, private equity and research in addition to finance lease, factoring, microfinance, Financial technology, mortgage, and insurance. EFG Hermes serves a range of clients including sovereign wealth funds, endowments, corporations, financial institutions, high-net-worth clients and individual customers. EFG Hermes is listed on the Egyptian Exchange (EGX) and London (LSE) stock exchanges. EFG Hermes has offices in Egypt, the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Pakistan, Oman, Kuwait, Jordan, Kenya, Nigeria, UK, United States and Bangladesh with over 4,500 people from 25 nationalities. They serve clients from the Middle East, North Africa, Europe and the United States. Currently, EFG Holding is listed as number 13 in Forbes' Top 50 Listed Companies in Egypt 2023.

<span class="mw-page-title-main">The Abraaj Group</span> Private equity firm based in Dubai, UAE

The Abraaj Group was a private equity firm operating in six continents that is currently in liquidation due to accusations of fraud. The firm was founded by Pakistani businessman Arif Naqvi and was based in Dubai, United Arab Emirates.

Moneycorp is an international payments fintech that provides payment products and services. The company was founded in London in 1979. Its clients include corporations, financial institutions, and individuals and it has a footprint in the United Kingdom, North America, Europe, Brazil, Hong Kong, and the United Arab Emirates.

<span class="mw-page-title-main">Pepperstone</span>

Pepperstone is a Melbourne, Australian based online broker with offices in London, Düsseldorf, Dubai, Limassol, Nassau and Nairobi.

FundedByMe is a crowdfunding platform based in Stockholm, Sweden started by Daniel Daboczy, Arno Smit and Eric Weber. The company is active in Scandinavia with joint ventures in Finland, Poland, Malaysia, The Netherlands, Singapore and The United Arab Emirates. FundedByMe's native language is English, but users can list their project in any supported language. The company was founded in March 2011 by Arno Smit and Daniel Daboczy. In September 2012, the company decided to focus their core business on equity crowdfunding instead of its original approach with donation and loan based crowdfunding portal.

Rebuildingsociety.com is a Leeds-based peer-to-peer lending platform, founded in 2012 by Daniel Rajkumar, to facilitate the online arranging of finance between lenders and small and medium-sized enterprises. The first loans were completed in February 2013.

<span class="mw-page-title-main">Assetz Capital</span>

Assetz Capital is a British company which makes property-secured loans to businesses. It was established in 2012 as a peer-to-peer or "marketplace" lender which allowed private and institutional investors to lend money directly to small businesses (SMEs) and property developers. In December 2022 it became solely funded by institutional capital for new lending.

Angels Den is the Europe's first and largest online investment platform that connects businesses with angel investors. It was founded in 2013 and is authorised by the Financial Conduct Authority (FCA).

SHUAA Capital psc is an asset management and investment banking platform.

OurCrowd is an online global venture investing platform that empowers institutions and individual accredited investors to invest and engage in emerging technology companies at an early stage while still privately held. Based in Jerusalem, the company launched in February 2013, and has since opened overseas branches in the United States, the United Kingdom, Canada, Australia, Spain, Singapore, Brazil, and the UAE.

The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (DIFC), In Dubai, United Arab Emirates. It is distinct from the UAE's federal Securities and Commodities Authority, whose jurisdiction covers the wider UAE outside the boundaries of the DIFC. It operates only within the special economic zone and is tasked with providing a regulatory environment of international standards.

Equity crowdfunding is the online offering of private company securities to a group of people for investment and therefore it is a part of the capital markets. Because equity crowdfunding involves investment into a commercial enterprise, it is often subject to securities and financial regulation. Equity crowdfunding is also referred to as crowdinvesting, investment crowdfunding, or crowd equity.

Emerging Crowd is a UK-based investment crowdfunding platform offering users equity and debt investments in unlisted emerging and frontier market companies. The platform enables growth-stage businesses to raise up to £4 million in a 12-month period. Emerging Crowd provides registered investors with the opportunity to invest in companies which were previously only accessible to private equity and venture capital funds or wealthy investors.

LendingCrowd is an online peer-to-peer lending company, based in Edinburgh, Scotland. As the first Scottish based crowdlending firm, LendingCrowd has created a platform that enables investors to support small and medium-sized businesses by lending personal capital through small loans whilst earning a monthly interest payment.

Abu Dhabi Financial Group (ADFG) is a global investment management group, headquartered in Abu Dhabi.

<span class="mw-page-title-main">National Bank of Fujairah</span>

National Bank of Fujairah is a full-service corporate bank that offers corporate and commercial banking, treasury and trade finance services, personal banking options, and Shari’a-compliant services.

HDFC International Life and Re Company Limited is a first life reinsurance company based in the Dubai International Financial Centre (DIFC), UAE.

Century Financial is a UAE-based privately held financial services provider headquartered in Dubai, UAE. It was founded in the year 1989. The company is regulated by Emirates Securities and Commodities Authority (SCA). Century Financial deals with FCA, CFTC, NFA & ASIC regulated principals. Founded in 1989 the company's service portfolio includes investment consultancy, research and analysis, and financial services in equity, share, currency, and cryptocurrency. Bal Krishen Rathore is the Chairman and CEO of Century Financial.

References

  1. 1 2 3 "How it works !". Eureeca.com. Retrieved 2015-08-29.
  2. ↑ "Crowdfunding Comes of Age". Venturemagazine.me. 2015-01-28. Retrieved 2015-08-29.
  3. ↑ "A global equity crowdfunding is changing the way people invest and businesses raise capital".{{cite web}}: CS1 maint: url-status (link)
  4. ↑ "REVEALED: The Gulf Business Industry Awards Winners 2013". Gulf Business . Retrieved 2015-08-29.
  5. ↑ "Revealed: Winners of first Arabian Business - StartUp - Awards - StartUp". ArabianBusiness.com. 2013-12-04. Retrieved 2015-08-29.
  6. ↑ "50 UAE Startups to Watch". Forbes Middle East. Archived from the original on 2016-11-17. Retrieved 2016-11-17.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.