Crowdfunding platform Eureeca has announced it has obtained what is claimed to be the first equity crowdfunding licence awarded by Dubai International Financial Centre.
In a statement, the company said the licence was a regional first and it would be setting up representative offices in the freezone.
Despite strong roots in Dubai, the company previously lacked licensing from the emirate’s financial centre.
It also obtained licences from the UK’s Financial Conduct Authority and Malaysia’s Securities Commission in 2015 and is licenced by the Netherlands Authority for the Financial Markets.
“With the DFSA’s stamp of approval, paralleled with our successful global expansion strategy, Eureeca creates a corridor of investment opportunities between Europe, the Middle East and Southeast Asia,” said Eureeca co-CEO and co-founder Chris Thomas.
Eureeca closed a 12-day $400,000 crowdfunding campaign in August as it continues to expand globally.
The platform hosts 12,000 investors from 42 countries, with an average investment of $5,900 and has other offices in London, Kuala Lumpur and Amsterdam.
“It is a testament to the regulatory infrastructure we have put in place that they have chosen DIFC as their regional hub, with firms like these a crucial part of our plan for our 2024 Growth Strategy,” said DIFC Authority CEO Arif Amiri.