Eureeca is the only multi-regulated and cross-continent Equity Crowdfunding platform globally, having received four licenses to operate in three different continents – Europe, Middle East and South East Asia.
Obtaining licenses and regulation for any Equity Crowdfunding platform is the most challenging milestone. This is particularly true in Emerging Markets where, as a new industry, regulation for Equity Crowdfunding in unchartered territories is not easy to achieve. One of the main challenges is the process of fine-tuning the details of the regulatory framework which takes time, effort and collaboration with many regulatory and governmental entities working towards safeguarding the interests of both the businesses that are seeking funding as well as the investors that invest in these businesses.
Eureeca, given its lengthy experience and its ethos, has helped a number of countries to write the correct and proper laws and regulations surrounding the industry and, as a result, has been granted numerous licenses.
The United Kingdom
In 2015, Eureeca received regulatory approval from the Financial Conduct Authority (FCA), the UK’s financial regulator. The approval was a huge step for Eureeca, as it meant that its systems and investor protection controls have passed the vigorous scrutiny applied by the FCA, one of the world’s premier financial regulatory bodies.
The FCA regulates more than 56,000 businesses in the financial sector in the UK. Its strategic objective is to ensure that the relevant markets function well and our operational objectives are to protect consumers, protect financial markets and promote effective competition in the interests of consumers.
As one of the first equity crowdfunding platforms to receive regulatory approval from Securities Commission in Malaysia (SC) in 2016, the country’s financial regulator, Eureeca offers the Malaysian entrepreneurs and investors a stable and secure online marketplace for
Due to the forward-thinking attitude of the SC as the first country in Southeast Asia to embrace and regulate equity crowdfunding as an alternative method to raise finance, Eureeca has centered its Southeast Asian activities in a technically savvy nation that is pioneering change in the way businesses get funded in the region.
Through Eureeca, Malaysian businesses are able to conveniently and efficiently raise, from their customer bases and our ever-expanding network of investors, the capital they require to keep growing. On the other side of the coin, Malaysians are able to invest in high-growth, high-yield potential businesses from Southeast Asia, the Middle East, and Europe
In September 2016, Eureeca launched its continental European hub in The Netherlands. Eureeca was the first equity crowdfunding platform to be authorised by The Netherlands Authority for the Financial Markets (AFM) by passporting the company’s UK Financial
Conduct Authority (FCA) license. Governed by the terms of its FCA license, Eureeca is the only platform in The Netherlands to be fully regulated with higher controls then current platforms, offering investors better protection.
Eureeca’s aim is to play an active role in democratising the Dutch fundraising ecosystem by offering an online marketplace for investment and this was best served by centering our European activities in The Netherlands.
Eureeca’s global expansion strategy, which involves creating a corridor of investment and capital-raising opportunities between the Middle East, Europe and Southeast Asia, allows businesses from The Netherlands to leverage the wealth and expertise of Eureeca’s global investor network.
November 2016 marked a milestone in Eureeca’s journey towards multi-regulation as it secured the first equity crowdfunding license in the Middle East region issued by the Dubai Financial Services Authority (DFSA). With a representative office in the Dubai International Financial Centre, a purpose-built financial free zone in Dubai, UAE, Eureeca was able to position itself as a preferred platform for businesses from across the globe that are looking to gain access to Eureeca’s Middle East investor base and also for those looking to expand geographically and open offices in the region.
In addition to regulating financial and ancillary services, the DFSA is responsible for supervising and enforcing anti-money laundering (AML) and counter-terrorist financing (CTF) requirements applicable in the DIFC.
Working towards better protection
In an ongoing effort to familiarise regulators in emerging markets, Eureeca is working in cooperation with relevant authorities in Indonesia, Thailand, the Kingdom of Saudi Arabia (KSA) and Bahrain to set up appropriate regulatory frameworks within each country that will enable the Equity Crowdfunding industry to operate in a safe and secure manner, for the first time ever, as Equity Crowdfunding does not exist in those countries yet. Eureeca continues on its journey to changing the rules of the game.