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Growth Business: Can Eureeca make equity crowdfunding truly global?

23 Dec 2019
Access to the biggest market available naturally comes, as one would expect, with nightmarish regulatory burdens. But former investment bankers Sam Quawasmi and Chris Thomas have taken it upon themselves to tackle these hurdles and provide businesses and investors with an equity finance platform that can cross borders in a scalable way.

As a result, Eureeca is the first multi-regulated crowdfunding platform in the world.

The company, which has twice raised $400,000 on its own platform, originally focused on smaller raises for its businesses between $50,000 and $250,000. However, the current Phase 2 stage focuses on companies that are raising between $250,000 to $1 million, with Phase 3 earmarked for $1 million to $5 million raises.Homes or Houses, a UK-based real estate business, set the record for the largest equity crowdfunding raise on Eureeca, raising $611,000 in less than 30 days, including a $200,000 investment from a UAE-based institutional investment firm.

Further afield, Roula, a Dubai-based fashion brand, secured 165 per cent of its funding target, but also generated great PR coverage and attracted a strategic investor who helped with market expansion.