el Grocer is a leading grocery delivery marketplace platform that connects shoppers with nearby Supermarkets and FMCG brands. Eureeca has played a big role in el Grocer's journey with their first round with Eureeca taking place with summer of 2017. They needed $350,000 and ended up raising $600,000 — 190% of the target. 64% of el Grocers investors come from the UAE while others came from countries including Saudi Arabia, Canada and Belgium. The largest single investment in the el Grocer equity crowdfunding campaign was $100,000 with an overall average investment size of just under $7,000.
On the recent second round with Eureeca, el Grocer needed funding to fuel more growth so they decided to go for it as a ‘booster’ and, yet again, they were oversubscribed. The total amount raised on this round was US$441,165, which means that they hit 174% of their target.
el Grocer is an example of one of the UAE’s fastest growing companies with a strong customer base who snapped up the opportunity to own shares in the business. By leveraging Eureeca as a regulated funding vehicle, as well as its tools and guidance, el Grocer was able to successfully reach a wide network of potential investors who have an appetite for this type of investment.
Homes or Houses is a UK-registered business specialising in the sourcing and renting of properties for expatriates and foreign buyers investing in UK property. It raised $611,000 on Eureeca in less than 30 days. This included a $200,000 investment from a UAE-based institutional investment firm.
The campaign exhibited the true potential of equity crowdfunding. A strategic investor is facilitating the physical expansion to the UAE, many Homes or Houses customers bought into the future success of the business, and considerable PR coverage resulted from the campaign, which helped generate business leads.
Savortex is an award-winning technology manufacturer that designs, builds and supplies energy saving smart Advertising hand dryers. The business took the decision to finance this through Eureeca, as opposed to other UK-based platforms, and raised $558,505 from 29 investors from the UK, Italy and UAE.
By choosing Eureeca, Savortex was given the opportunity to raise money from international investors who could potentially open doors for the business in their home countries and help to bring its range of products to new and exciting markets across the world.
Enerwhere is a Dubai-based DEWA-certified solar PV contractor that sells solar as a service to commercial and industrial entities, just like a utility company. In two separate rounds Enerwhere raised almost $2million in equity crowdfunding from 161 investors through Eureeca, which resulted in further growth of the company and projects. The investors came from 23 countries including Qatar, South Africa, United Kingdom, Denmark and the Philippines.
Enerwhere’s successful capital raising campaign is a testimony to the consensus that the equity crowdfunding model will be more mainstream in the years to come and strengthens Eureeca’s role as the pioneer in connecting the next generation of investors and entrepreneurs across borders
Dukkaani is a pan-Arab smart shopping platform enabling and transforming all grocery shopping stores to sell their products online. Dukkaani has raised $341,485 via Eureeca from 38 investors from seven countries including the UAE, Saudi Arabia, Egypt and Mauritius. Funds from their successful equity crowdfunding campaign will be used to fulfill its vision to grow into an e-commerce enterprise that has its own fulfillment center for the grocery shopping needs of the consumers.
The success of Dukkaani’s funding round is a testament to the role that Eureeca play’s in enabling entrepreneurs and high growth businesses to raise much-needed expansion capital and create new partnerships for growth.
Jobedu is a Jordanian crowd-sourced fashion and lifestyle brand that raised $120,000 in just four days on the platform and demonstrated just how efficient and time effective fundraising on Eureeca can be. Investors ranged from casual and angel investors to institutional investors and came from 10 countries including Sweden, UK, Canada, UAE and Lebanon.
Today, with the support of the funds raised via the Eureeca platform, Jobedu is franchising throughout the region as it heads towards becoming the first global Arab apparel and accessories brand.
Peerwith is an Amsterdam-based global platform for expert-led researcher services in the scientific publishing industry. Peerwith has raised $135,615 from 44 investors from 11 countries during their funding round on Eureeca. While 45% of investors came from The Netherlands, the business was able to secure a sizeable amount of investment from outside of the country including investors from India, Korea and China.
By bringing the capitalisation process online and allowing pretty much anyone to invest, equity crowdfunding makes raising capital far more efficient than with more conventional sources and can serve as an ideal tool for facilitating market expansion.
Gulf Meteor is a behavioural change agency giving customers in the real world the same analytics as the digital world. Gulf Meteor secured 148% of its funding raising $520,219 in 64 days from 28 investors via the Eureeca platform. Demonstrating the international reach of Eureeca’s investor base, investors ranged from angel investors to institutional investors and came from the UAE, Kuwait, Jordan, Kuwait, Lebanon and Canada.
The campaign allowed Gulf Meteor to raise funds in a way that will allow the business to grow profitably and to increase its point of differentiation. By building a wide base of investors through Eureeca, Gulf Meteor was able to create an army of brand ambassadors who will spread the word about its business and help them make strategic connections.
SugarMoo Desserts was launched in 2014 as the Middle East’s first online dessert delivery business delivering freshly baked goods to your doorstep in less than 90 minutes. The Dubai-based e-commerce platform went into overfunding reaching $291,448 - 116% of its target - from 35 investors from eight countries on the Eureeca platform.
The success of the fundraising round demonstrates the effectiveness of being able to leverage Eureeca’s network for capital, strategic connections, and expansion into new markets. The funds raised will be used to further expand SugarMoo’s business into new markets across the region and will enable to business to explore franchise requests and partnership opportunities.
Poupee Couture (now rebranded as “Roula”) is a Dubai-based fashion brand that specialises in handbags styled in a fusion of Western and Arab culture. In addition to securing 165% of its funding target, the Poupee Couture campaign generated great PR coverage and attracted a strategic investor who helped with market expansion.
Cabture are an Amsterdam-based ad-tech company that focus on adding value to lost travel time through cutting edge technology and one-of-a-kind user engagement. They are the first Dutch company to get funded on Eureeca, raising their target of $226,000 in just 64 days.
The campaign highlighted the increased international exposure and opportunities companies can get from raising through Eureeca’s global equity crowdfunding platform. Cabture were able to leverage a wide pool of international investors from the Eureeca network and were able to secure 58% of their investors from outside of the Netherlands, all of whom are vested in making the business global.