FundedByMe confirms full regulatory license completion in the UAE
Dubai - UAE / Stockholm - Sweden on March 14, 2019
FundedByMe, a leading global crowdfunding website that allows companies to raise funds by selling equity, trough equity crowdfunding, has recently launched operations at the DIFC after obtaining full equity crowdfunding license from the DFSA. Previous communication announced an “in principle approval” subject to specific conditions, like company incorporation that now have been met. Samer Toukan, CEO - FundedByMe MENA, and Daniel Daboczy, group CEO - FundedByMe Group, now confirm completion of all requirements and securing final license approval. FundedByMe MENA aims at launching its first campaign on the local platform early in Q2 of 2019.
“With the comprehensive review and approval process we went through for our DFSA license, we are proud to say that FundedByMe is the only regulated equity crowdfunding platforms in the region. We have developed a 15-step due-diligence process to ensure that quality is maintained throughout the fundraising cycle. This highly selective process creates confidence and credibility with our investors, in the quality of our campaigns and in the source of involved funds.” - says Samer Toukan, CEO of FundedByMe MENA.
Company owners with valid trade licenses, ambitious business plans, and clear financial projections can now go to FundedByMe MENA to begin their fundraising campaigns. At the same time, investors seeking quality deal flows can now register their details to gain access to companies that are seeking funds, based on individual risk and diversification strategies. Depending on the complexity of the application, the on-boarding and due-diligence process for both investors and fundraisers will take approximately four weeks.
The UAE is the latest addition to FundedByMe’s operational network, in addition to existing joint ventures in 5 other countries around the globe. Prior to launching in the UAE, over 269,000 registered investors (from 111 countries) successfully funded around 500 companies (from 25 countries) with more than €55 million (AED 232,000,000).
The company was founded in Sweden in 2011, is one of the fastest growing equity crowdfunding platforms. FundedByMe AB (publ) is as of 8th of March 2019 a listed company on NGM Nordic MTF in Stockholm Sweden. FundedByMe AB (publ) is a parent company consisting of FundedByMe.com, Feminvest - probably the largest female network of investors in the Nordics, Laika Consulting AB is a fully owned subsidiary that offers Investor Relations as well as marketing and financial communication. The company also has minority ownership in 6 joint ventures in Finland, Malaysia, Dubai/UAE, Poland, The Netherlands, and Singapore. The company has business licenses in Malaysia (equity and P2P/P2B) and in Dubai/UAE (equity crowdfunding license as well as a license to uphold client accounts). Together the group reaches over 269.000 registered investment members globally. The company’s traded shares can be found at for example Avanza (FBM MTF B) or Nordnet (FBM MTF B).