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Wamda: Eureeca crowdfunds $400K for itself

23 Aug 2016

Original version of this post was written by Wamda

Crowdfunding platform Eureeca has announced today they have raised $400,000 on their platform for themselves.

Eureeca closed the self-funding round in just 12 days and said they started the campaign due to customers repeatedly expressing an interest in investing in Eureeca itself.

According to a statement issued by Eureeca today, the capital raised will be used to fuel its aggressive growth plans in Continental Europe and Southeast Asia, as well as the continued development of their equity product offering in 2016.

Started in 2013 by Co-CEOs are Chris Thomas and Sam Quawasmi, the platform operates an all-or-nothing system - if you don’t raise all the funds you need you collect no money.

They are headquartered in Dubai with offices in Amsterdam, London and Kuala Lumpur. They currently have over 12,000 active investors from 42 countries, with an average investment size of $5,900.

“Our self-funding experience has gone a long way to reinforce how effective the guidance and tools we provide our entrepreneurs can be when implemented correctly,” Thomas said in a statement.

“It shows that the system really does work and that motivating your own network to become part of your growth journey will equip you with an army of global brand ambassadors who are committed to seeing you succeed in your business venture for years to come.”

The global ambitions of the Dubai-born platform was made clear at the start of 2015 when they received regulatory approval from the UK's Financial Conduct Authority (FCA). This allows them to list British early-stage businesses and SMEs on its platform.