OurCrowd, a global equity crowdfunding platform, received a US$10m investment from Singapore-based United Overseas Bank Limited (UOB).
The investment, which was part of a strategic partnership between the two organizations, pairs the Bank’s experience in serving entrepreneurs as well as small and medium-sized enterprises (SMEs) across the region with OurCrowd’s expertise in investing in promising startups through equity crowdfunding.
Through the collaboration, innovative Asian companies with scalable technology products and services will now get access to a new source of funding through OurCrowd’s equity crowdfunding platform while the accredited investors among UOB’s clients will have the opportunity to broaden their investments into the platform’s portfolio.
Led by Founder and CEO Jon Medved, OurCrowd is a Jerusalem based equity crowdfunding platform that invests in Israeli and global companies. It selects opportunities, invests its own capital and brings startups to its membership. The platform also provides post-investment support to its portfolio companies, assigning industry experts as mentors and in many cases takes board seats.
OurCrowd has invested over $200M in its 93 portfolio companies, which include four exits since its launch in February 2013: ReWalk (IPO on the NASDAQ), Trendlines (IPO on the Catalist of the Singapore Exchange), Nextpeer acquired by Rakuten/Viber, and BillGuard acquired by Prosper.
In addition to UOB, Sassoon Investment Corporation (SassCorp), the private investment holding company of the Singapore-based Sassoon family, is also partnering and investing in OurCrowd’s to support its Asian expansion.
FinSMEs
05/03/2016