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UOB to Invest S$14m Partnership with OurCrowd

United Overseas Bank (UOB) has invested $10 million (S$13.93 million) in partnership with the global equity crowdfunding platform, OurCrowd.

The move is the latest initiative in the original UOB space, which comes as Singapore banks to intensify their efforts to cooperate more closely with technology companies.

UOB Logo

Thanks to the cooperation, start-ups and small businesses in Asia may seem small investments from a large number of global investors in exchange for shares of the company. The partnership aims to cope with the $180 billion US financial difference SMEs in Southeast Asia.

UOB head of channel groups and digitization, Janet Young, said: “It can be challenging for small businesses to obtain financing, in particular, for the financing of equity capital in the early stages of growth UOB cooperates with OurCrowd to connect smart ideas with the smart money.”

Local bank added that the cooperation will open alternative investment opportunities for its accredited investors.

“Investors in Asia can now get access to quality deal flow in Israel, Silicon Valley and beyond,” said OurCrowd Founder and CEO Jonathan Medved.

While the asset class is inherently risky and illiquid, OurCrowd said it carried out the due diligence of companies, approving only one in 50 applications to raise funds for its platform.

ourcrowd logo

OurCrowd also invested more than $200 million in their companies 93 Portfolio – mainly distributed in the United States, Europe and the Middle East – since its launch in 2013.

OurCrowd is an equity crowdfunding platform built for accredited investors to provide venture capital funding for early stage startups.

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