Sweden-Headquartered Equity Crowdfunding Platform FundedByMe Launches Operations At Dubai International Financial Centre
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Sweden-headquartered equity crowdfunding platform FundedByMe has launched its operations in the MENA region after receiving full authorization from the UAE’s Dubai Financial Services Authority (DFSA) to be incorporated at Dubai International Financial Centre (DIFC).
The Stockholm-based enterprise, which was founded in 2011 and is a listed company on NGM Nordic MTF, is expecting to launch its first campaign in Dubai in the second quarter 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 platform in the region,” said Samer Toukan, CEO of FundedByMe MENA, in a statement.
Samer Toukan, CEO, FundedByME MENA. Image credit: FundedByMe.
FundedByMe is now inviting both company owners and investors to kickstart fundraising campaigns on its platform, with the enterprise claiming that the on-boarding and due diligence process will take about four weeks.
“We have developed a 15-step due-diligence process to ensure that quality is maintained throughout the fundraising cycle,” Toukan said. “This highly selective process creates confidence and credibility with our investors, in the quality of our campaigns, and in the source of involved funds.”
Besides the UAE, FundedByMe has a presence in five other countries around the world, with the global website having had over 269,000 registered investors successfully fund around 500 companies, with investments totaling more than US$62 million.