Eureeca
Eureeca is an equity crowdfunding platform with presence in Europe, the Middle East and South East Asia that allows early-stage businesses and small and medium-sized enterprises (SMEs) to raise capital from a group of investors, who range from casual and angel investors to institutional firms, in exchange for equity.[1] Eureeca serves as an alternative financing option to more traditional financing sources such as banks and venture capital firms.[2]
Type of site | Equity crowdfunding |
---|---|
Founder(s) | Chris Thomas and Sam Quawasmi |
Industry | Finance |
URL | www |
Commercial | Yes |
Launched | 2013 |
Launched in 2013 by Chris Thomas and Sam Quawasmi, it has since grown into a multi-regulated and cross-continent platform globally with an active investor base of 32,879 from 72 countries with an average investment size of US$5,800.00.[3]
51 early-stage businesses and SMEs have successfully raised capital through the platform.
Model
Eureeca utilises an "all or nothing" fundraising model, which requires campaigners to hit their targeted fundraising amount during a 90-day campaign period in order to collect the funds. In the event that the target amount is not reached, members of the crowd who have already invested in the business will have their funds credited back to their Eureeca account for future use.[1]
Eureeca has implemented a "Minimum Target" policy, which allows campaigners to specify a minimum target lower than their total one. This is based on milestones specified in the offering. Companies utilising this target will have it clearly marked on their proposals, and will be allowed to keep anything they raise beyond it.[1]
Funded campaigns
Hundreds of early and later-stage companies have been listed and funded via the platform.
Eureeca Limited is authorised and regulated by the Financial Conduct Authority in the UK (No. 624555). Eureeca SEA is authorised and regulated by the Securities Commission in Malaysia as a registered electronic facility (Equity Crowdfunding Platform) under s34 of the Capital Markets and Services Act 2007. Eureeca DIFC Limited is authorised and regulated by the DFSA in Dubai, UAE (F006024) to carry on authorised financial services and hold or control client assets. We are authorised and regulated by the UK FCA to provide Equity Crowd Funding services and to hold your client funds in our segregated client accounts.
Regulations
Eureeca Limited is authorised and regulated by the Financial Conduct Authority in the UK (No. 624555). Eureeca SEA is authorised and regulated by the Securities Commission in Malaysia as a registered electronic facility (Equity Crowdfunding Platform) under s34 of the Capital Markets and Services Act 2007. Eureeca DIFC Limited is authorised and regulated by the DFSA in Dubai, UAE (F006024) to carry on authorised financial services and hold or control client assets. We are authorised and regulated by the UK FCA to provide Equity Crowd Funding services and to hold your client funds in our segregated client accounts.
Recognition
In September 2013 Eureeca co-founders Chris Thomas and Sam Quawasmi were presented with the "Innovator of the Year" award Gulf Business Industry Awards in the United Arab Emirates.[4] In December 2013, Eureeca was named "StartUp of the Year" at the first annual Arabian Business StartUp Awards in Dubai.[5] In October 2016, Eureeca was named in the "Forbes Top 50 UAE Start Ups To Watch”, placing 3rd in the list.[6]
See also
- Nasser Saidi, Deputy Chairman as of December 2012
References
- "How it works !". Eureeca.com. Retrieved 2015-08-29.
- "Crowdfunding Comes of Age". Venturemagazine.me. 2015-01-28. Retrieved 2015-08-29.
- "A global equity crowdfunding is changing the way people invest and businesses raise capital".
- "REVEALED: The Gulf Business Industry Awards Winners 2013". Gulf Business. Retrieved 2015-08-29.
- "Revealed: Winners of first Arabian Business - StartUp - Awards - StartUp". ArabianBusiness.com. 2013-12-04. Retrieved 2015-08-29.
- "50 UAE Startups to Watch". Forbes Middle East. Archived from the original on 2016-11-17. Retrieved 2016-11-17.