Through loan-based crowdfunding platforms, people and businesses can obtain access to finance from alternative lenders, including on a peer-to-peer basis. Using social networks and the viral nature of online communication, individuals and companies have raised billions of dollars in debt, equity, and donations over the past decade. Currently, Eureeca is the only such platform in the UAE, which is regulated by the DFSA. Whistleblowing Whistleblowing plays a critical role in keeping our Institution honest, efficient and responsible. Times Realty News. Like any other nation, crowdfunding started trending all over UAE. In debt-based crowdfunding, the entity raising the funds pays back the funds along with some coupon rate/ interest rate pre-agreed between the parties instead of parting with equity/reward. Crowdfunding is a useful source of finance for early-stage companies, but its development in the region has been relatively limited so far. FundedByMe UAE's operations is targetted to go live in Q2 of 2019. By 2016, over 100 crowdfunding platforms spread across the globe were soliciting real estate investments for turnkey projects, off-plan properties, re-development of rundown establishments and acquisition of distressed mortgages. In this complex environment, several Arab crowdfunding platforms have been set up in the last years. Loan-based crowdfunding in the UAE is set to be subjected to stricter controls with the introduction of a new regime for the licensing and regulation of crowdfunding platforms. Evolve is an online car hire booking platform with a budget-friendly price for car rental in the UAE.. A car rental, short-term hire car, or short-term car hire service is a business which normally rents cars for short periods of time, usually from several days to a couple of weeks. Most donation crowdfunding platforms also support rewards crowdfunding. Beehive is an example of a debt-based regulated crowdfunding platform in the UAE. The thriving entrepreneurial ecosystem in the UAE has been accompanied by a rise in the number of angel investors. SMEs are significant contributors to the UAE economy which comprises around 85% of businesses in the UAE, contributes to nearly 60% to the UAE GDP, and employs 60-65% of the UAE workforce. Once the investors decide the crowdfunding type, he can verify and select amongst the several crowdfunding platforms available. Click HERE to find out ⭐ PayBito Reports Record Participation in the UAE For Exchange Affiliate Program. Comparing the Top Online Fundraising and Crowdfunding Platforms. 5- Transparent Hands – Online Donation Platforms in UAE Transparent Hands is the largest technological platform for crowdfunding in the healthcare sector of Pakistan. Peer-to-Peer financing is one form of crowdfunding service which Beehive provides. Angel Investors. UAE Central Bank seeks feedback on crowdfunding platform regulations Applicants wishing to undertake loan-based CFP activity must apply to the Central Bank for a licence. Our peer to peer lending platform provides economic returns to the crowd funder through returns on the … However, do keep in mind that crowdfunding something so important is not always all that it is cracked up to be. Crowdfunding is a way to raise money for an individual or organization by collecting donations through family, friends, friends of friends, strangers, businesses, and more. UAE Central Bank (CBUAE) has launched a new Regulation of new activity on "Loan Based Crowdfunding” in mainland UAE, rules for issuing Crowdfunding Licenses… +91 -9840708181 Whatsapp Crowdfunding platforms in the UAE help connect business with investors. Crowdfunding platforms in Dubai, UAE. Peer-to-peer (P2P) lending aka crowdfunding platforms are proving to be good alternatives to typical bank funding in the Middle East region. Equity model/ crowd-sourced equity funding (CSEF): The investors receive shares in a company in exchange for the capital provided. It turned out that crowdfunding in Dubai, UAE is a viable source for financing various projects and startups at different stages. Crowdfunding – Advantages and Disadvantages If you’re looking to build a crowdfunding platform in Saudi Arabia, UAE, or elsewhere in the MENA region, reach out to LenderKit to discuss your project. The major hurdle facing crowdfunding platforms in the MENA region is awareness and acceptance as an alternative funding method. Traditionally, funds are raised from relatives, friends and venture capitalists. The DFSA said its crowdfunding regulations have the ability to catalyse growth in the fintech industry in the UAE and the region, by targeting the specific requirements of crowdfunding platforms. There are plenty of prospective startups and real estate projects which crowdfunding platforms can absolutely serve by providing various financing tools. the United Arab Emirates’ (the “UAE”) economy. In addition, UAE start-ups may also access funding through regulated equity crowdfunding platforms. SMEs contribute nearly 60% of the UAE’s GDP and estimated to grow to 70% by 2021 The main crowdfunding platforms in the UAE are: • Beehive is the first online trading platform for financing and lending created in the UAE. ... (VC) funding and angel funding are other options for SMEs, tapping a wider investor base through crowdfunding platforms is proving to be an attractive option for both entrepreneurs and investors in managing risks and costs. (More on this towards the bottom of this article.) ... Saudi Arabia, and the UAE. Crowdfunding set to revolutionise fund-raising for SMEs in UAE. The expansive jurisdiction of the Regulation will need to be considered by platforms located outside the UAE, including potentially those based in the DIFC and ADGM. Getting into UAE’s Real Estate Crowdfunding Space: Market, Trends, and Platforms. The practice is even gaining prominence in the UAE since it has been deemed to be in accordance with sharia law. During the fifth Middle East Banking Forum hosted by the UAE Banks Federation held in November 2017, the Central Bank governor had indicated the Central Bank's intention to regulate crowdfunding platforms in the emirates as part of measures … Crowdfunding is a collective effort of individuals who pool their resources to support initiatives promoted by other people or organizations. What Is Crowdfunding? FundedByMe, an equity crowdfunding platform, has recently launched operations at the DIFC after obtaining full equity crowdfunding license from the DFSA. Crowdfunding company; The crowdfunding company must be a company incorporated in UAE under the Companies Law (excluding the Joint Partnership and Simple Commandite companies). | Crowdfund Insider: Global Fintech News, including Crowdfunding… The resource directly connects with investors the enterprises that need investments; • Eureeca is the first global platform to share crowdfunding. UAE based Buckscapital is an example of this type of crowdfunding. I would highly recommend them, they are a much needed resource in the UAE!” Peter Davos – Founder & CEO Hale Education "Since debt financing wasn’t easily available through the banks, we tried the 21st century method of crowdfunding and it went very, very well. Car rental platforms like Evolve, provide the easiest way to find and rent a car in Dubai. Crowdfunding investment options in the UAE. This is why in recent years, UAE has witnessed the rapid growth of crowdfunding platforms based in or focusing on UAE and other GCC countries. 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