Another first in Asia, Israeli crowdfunding platform OurCrowd, has opened an office in Singapore to tap the fast-growing market of the region.
This move comes after August, when it received Capital Market Services (CMS) licence from the Monetary Authority of Singapore. This was no sooner than UOB investing approximately S$14 million in the company in March, and later also participated in its $72 million Series C funding. Jon Medved, Cofounder and CEO said,
Asia more broadly, and Singapore in particular, is becoming a globally recognised financial hub for the next generation of innovative technology companies. We expect to tap into exciting new deal flow, as well as bring more and more Asian investors to join us in funding global technology companies.
OurCrowd has opened a Singapore office that is expected to expand the platform on three fronts – the facilitation of capital raising, sourcing of portfolio companies in Asia and helping investee companies with their Asian expansion. This office will be headed by Denes Ban as managing partner from Hendersen Road.
The crowdfunding platform has invested more than S$500 million into its portfolio of 100 companies and five funds. It has alo aided nearly 16000 accredited investors globally into various segments such as mobility and transportation, machine learning, cyber-security, digital health, agriculture technology, big data and robotics.
The opening of OurCrowd’s Singapore office increases the ease in which startups can seek professional advice on equity crowdfunding, while accredited investors among UOB’s customers will be able to broaden their investments into these promising startups added the head of C&B from UOB Janet Young. She also stated at they recognize the emerging enterprises and startups and wanted to help them grow into sustainable businesses. She also said,
UOB banks one in every two small businesses in Singapore and we recognize the importance of funding as a key factor for business growth. Through our partnership with OurCrowd, these companies can benefit from alternative funding options to help them scale up their businesses, especially in the early stages of growth.
OurCrowd has been very particular about not limiting itself to a specific geography and is adamant on leading the global investment crowdfunding charge.