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FINANCIAL TECHNOLOGY | Staff Reporter, Singapore

UOB to invest US$10 million in global equity crowdfunding platform OurCrowd1

This collaboration is OurCrowd’s first foray into Asia.

UOB announced Asia’s first strategic collaboration with a leading global equity crowdfunding platform, OurCrowd1. It pairs UOB’s strengths and depth of experience in serving entrepreneurs as well as small-and medium-sized enterprises (SMEs) across the region with OurCrowd’s expertise in investing in some of the world’s most promising start-ups through equity crowdfunding.

The collaboration will see UOB making a US$10 million investment in OurCrowd. The accredited investors among UOB’s clients will now have an opportunity to broaden their investments into OurCrowd’s portfolio companies.

Ms. Janet Young, Head of Group Channels and Digitalisation, UOB, said: “As Singapore’s largest SME bank with an extensive regional network, UOB has deep experience from its long-standing support of entrepreneurs, start-ups and SMEs. This collaboration with OurCrowd is a natural extension of our interest in nurturing the growth of small businesses."

“SMEs are the foundation of Asian economies, providing high levels of employment. However, it can be challenging for small businesses to obtain financing, particularly equity financing, in the early stages of growth. Because of this, UOB has partnered with OurCrowd, to connect smart ideas with smart money.”

This collaboration is OurCrowd’s first foray into Asia and represents a significant step towards developing the FinTech ecosystem in the region.

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