FundedByMe has been granted regulatory approval from the Dubai Financial Services Authority (DFSA) to offer investment crowdfunding in Dubai. An in-principle license has been granted conditional to completing the setup of the local entity. Operations will commence early in 2019.
FundedByMe states that it will become the United Arab Emirates first DFSA regulated and DIFC incorporated Equity Crowdfunding Platform. FundedByMe is based in Sweden but has established operations in multiple countries around the world. FundedByMe is on a mission to become the most global crowdfunding platform in existence. Currently the company has offices in Sweden, Finland, Poland, The Netherlands, Singapore and Malaysia.
“Our services are designed to help new-to-market entrepreneurs and existing businesses access smart capital to create growth in the UAE and beyond. Crowdfunding is on an exponential growth trend globally, from US $1.5 bn in 2011 to around US $100 bn by 2025 (according to the World Bank).”
FundedByMe MENA expects to provide SMEs with more flexible access to capital at a lower cost than conventional channels. FundedByMe MENA will be offering early deal-flow access to high-potential asset classes formerly unavailable to individual and retail investors.
Hamdi Osman, Chairman of FundedByMe MENA, says the platform offers state-of-the-art technology and security architecture considered among the best.
Samer Toukan, CEO of FundedByMe MENA, said they will be bringing crowdfunding to the wider MENA region:
“Central to our offering is FundedByMe proven operational excellence and our commitment to full transparency for both our investors and entrepreneurs.”
FundedByMe currently claims a network of over 250,000 global registered investor members. To date, FundedByMe has helped over 500 businesses to raise more than $56 million through crowdfunding.