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Al Khaleej: 12,000 investors from 42 countries

08 Jan 2017

The original version of this post was written by Al Khaleej - Abir Abu Shamala


Sam Quawasmi, co-founder and Managing Director of Eureeca sat down with Abir Abu Shamala of Al Khaleej to discuss the recent license Eureeca received from the Dubai International Financial Centre. He outlines how it has opened channels of investment between Europe, Middle East and Southeast Asia. 


The following is a translation of the interview:


How has the company grown since its inception?


Since the launch of Eureeca, it has grown into an active investor base of 12,000 active investors from 42 countries with an average investment size of $5,900. He also highlighted the $400,000 self-funding round Eureeca were able to raise in 12 days, and the partnership they have made with American International Group.


What is the importance of obtaining a license from the Dubai International Financial Centre?


It was the first crowdfunding license in the region, and allowed Eureeca to open a representative office in the Dubai Financial Centre. It was Eureeca's fourth license, making us officially a global platform that enables future investors a much wider umbrella of investment protection mechanisms, as well as allowing us to promote our products and services.


How will this license support your plans for future growth and what goals would you like to achieve?


The DFSA license consolidates the company’s position as the most regulated global equity crowdfunding platform, and opens a channel of investment opportunities between Europe, the Middle East and Southeast Asia. Eureeca is now officially a multi-regulated platform as we are awarded licenses from the UK Financial Conduct Authority, the Malaysian Securities Commission, the Dutch Authority for the Financial Markets and the Dubai Financial Services Authority.


What are the main expansion challenges facing Eureeca, especially within the legal and technical aspects?


The equity crowdfunding sector needs to be developed in a safe and sound manner, with regulations, supervisory frameworks, consumer protection and more. Eureeca is working closely with regulatory authorities and governments in the Middle East in order to guarantee the progress of the sector, steer it in the right direction and in the most appropriate legal framework.


How does Eureeca help SME's and startups, and what do you guarantee investors?


Financial empowerment factors in the Middle East is still under development. Say we look at network shares which are considered an important source of capital for emerging companies in the West, we find that it is still fledgling here in the Middle East. Also Eureeca does not guarantee any returns for investors, but only a stable platform for entrepreneurs and investors to use.


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Source (Arabic only)