Eureeca is an
equity crowdfunding
Equity crowdfunding is the online offering of private company securities to a group of people for investment and therefore it is a part of the capital markets. Because equity crowdfunding involves investment into a commercial enterprise, it is ...
platform with presence in Europe, the Middle East and South East Asia that allows early-stage businesses and
small and medium-sized enterprises
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...
(SMEs) to raise capital from a group of investors, who range from casual and angel investors to institutional firms, in exchange for equity.
Eureeca serves as an alternative financing option to more traditional financing sources such as banks and
venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...
firms.
Launched in 2013 by Chris Thomas and Sam Quawasmi, it has since grown into a multi-regulated and cross-continent platform globally with an active investor base of 32,879 from 72 countries with an average investment size of US$5,800.
51 early-stage businesses and SMEs have successfully raised capital through the platform.
Model
Eureeca utilises an "all or nothing" fundraising model, which requires campaigners to hit their targeted fundraising amount during a 90-day campaign period in order to collect the funds. In the event that the target amount is not reached, members of the crowd who have already invested in the business will have their funds credited back to their Eureeca account for future use.
Eureeca has implemented a "Minimum Target" policy, which allows campaigners to specify a minimum target lower than their total one. This is based on milestones specified in the offering. Companies utilising this target will have it clearly marked on their proposals, and will be allowed to keep anything they raise beyond it.
Funded campaigns
Hundreds of early and later-stage companies have been listed and funded via the platform.
Regulation
Eureeca is regulated by the United Kingdom's
Financial Conduct Authority (FCA).
Recognition
In September 2013 Eureeca co-founders Chris Thomas and Sam Quawasmi were presented with the "Innovator of the Year" award
Gulf Business Industry Awards __NOTOC__
''Gulf Business'' is a weekly magazine published from Dubai, United Arab Emirates, and focusing on Middle East business news, especially in GCC countries. It was launched in 1996. It is published in Motivate Media Group.
The magazine ...
in the
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ...
.
In December 2013, Eureeca was named "StartUp of the Year" at the first annual Arabian Business StartUp Awards in Dubai.
In October 2016, Eureeca was named in the "Forbes Top 50 UAE Start Ups To Watch”, placing 3rd in the list.
See also
*
Nasser Saidi, Deputy Chairman as of December 2012
References
{{Crowdfunding platforms
Crowdfunding platforms