OurCrowd, the leading global equity crowdfunding platform, has announced its expansion in Asia with a new Taipei office and financial partner, Shanghai Commercial & Savings Bank (SCSB).
According to OurCrowd, SCSB recently received the approval of the Financial Supervisory Commission, to invest in the Israel equity crowdfunding platform, making it Taiwan’s first bank to invest in an overseas fintech equity funding portals, and becoming OurCrowd’s strategic alliance partner in Taiwan. Speaking about the platform’s expansion, founder and CEO of OurCrowd, Jon Medved, stated:
“We see Taiwan as one of the major technology and innovation centers in the world and are excited to be partnering with one of Taiwan’s leading banks, SCSB.”
Denes Ban, OurCrowd’s managing partner Asia, who will lead the initiative, then shared:
“The goal of the expansion is threefold. Firstly, to help Taiwanese small and medium sized enterprises to get more funding. Secondly, to help Taiwanese investors to diversify and invest into global startups and thirdly, to connect the latest disruptive Israeli tech with Taiwanese companies to be more effective and efficient in reaching global markets.’’
OurCrowd also revealed that SCSB is collaborating with the Taiwanese Financial Supervisory Commission, to create a smart financial vision by actively utilizing financial technology to promote internet banking and mobile banking services. The organization is also aiming to use bigdata analysis for precision marketing, and to deepen social media to promote digital marketing. SCSB Director of Board and Executive Vice President and Chief Information Officer, John Yung, added:
“The objective of the bank’s investment in Israel’s OurCrowd equity crowdfunding platform, aside from wanting to generate investment income, also aims to be able to use its investment to access foreign start-up companies, and the latest financial technology, network security technology, and innovative financial services. At the same time as introducing Israel’s OurCrowd to Taiwan, it hopes to facilitate its understanding of the progress of new developments in the country, improve OurCrowd’s investment opportunities in Taiwan, and inject fresh funding sources into new Taiwanese ventures.”