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Daily News Egypt: Eureeca mulls operating in Saudi Arabia, Egypt

23 Dec 2019
Eureeca is considering operating in Saudi Arabia and Egypt as new two markets in the Middle East region, the organisation’s Co-CEO and Co-founder, Sam Quawasmi, told Daily News Egypt, adding that Eureeca is working in most of the Middle Eastern countries from Dubai as its headquarters.

“We serve companies to raise their capital in Jordan, Lebanon, Kuwait and Gulf Countries Council (GCC) in general. In Egypt, it will take time to get a regulatory framework that encourages our activity. We would look at operating in Egypt in the future,” he noted.

Eureeca is the first global equity crowdfunding platform. It enables members of its investor network, who range from casual and angel investors to institutional firms, to buy shares in growth-oriented businesses, while providing operational businesses with crucial access to capital.

The main challenges that face boosting the SMEs are the regulation systems and the lack of education, Quawasmi explained, adding “when we began our business in the region, we discovered that many people don’t have the basic information about banking sheets, how to start a business and others…I think that policy makers should take those couple of issue into consideration.”