OurCrowd : Opens Singapore Office, Appoints Denes Ban Managing Partner Asia
Singapore office will tap rising interest from Asian investors in equity crowdfundingMove follows partnership with UOB and SassCorp in SingaporeOurCrowd, a global leader in equity crowdfunding, announced today that it has opened an office in Singapore, its seventh worldwide, to serve the growing community of Asian investors interested in funding early stage high-growth companies. It has appointed Denes Ban, a successful entrepreneur and technology executive, as Managing Partner Asia and head of OurCrowd’s Singapore Management company.The move follows OurCrowd’s announcement earlier this year that it has partnered with United Overseas Bank (UOB) and Sassoon Investment Corporation (SassCorp) to pursue equity crowdfunding for startups and SMEs in the region. OurCrowd also received a formal license to begin operating in Singapore from the Monetary Authority of Singapore in August 2016.“Asia is one of our fastest growing markets and following our launch in Singapore, we will be looking to take OurCrowd further into the ASEAN market,” said OurCrowd CEO Jon Medved. “Our business in Asia has grown five times since 2014, both in terms of the number of investors on the platform and investment dollars committed on our platform.Medved added that OurCrowd’s Asian funding now represents over half of the funding recently invested on the site.He added: “Asia more broadly, and Singapore in particular, is becoming a globally-recognized financial hub for the next generation of innovative technology companies. We expect to tap into exciting new deal flow, as well as bring more and more Asian investors to join us in funding global technology companies.”In just over three years, OurCrowd has established itself as a major international force in the equity crowdfunding industry, investing over US$320 million from its “crowd” of 16,000 accredited investors in its portfolio of 100 companies and five funds, which span major investment sectors including Mobility and Transportation, Machine Learning, Cybersecurity, Digital Health, Agtech, Big Data, and Robotics.Denes Ban said: “We are excited to be operating in Singapore, which is fast becoming a leading global fintech center. We look forward to strengthening our winning team of UOB and the Sassoon family by adding new Singapore partners, investors, and portfolio companies. At this month’s MAS’ Singapore Fintech Festival, OurCrowd portfolio company BioCatch won the Global Fintech Award from among 200 competing companies and received a S$150,000 cash prize. OurCrowd also partnered with UOB and KPMG to organize a pitch fever session at the Festival for entrepreneurs, corporate partners and investors.Medved and Ban will outline future plans for their activities in the region at a cocktail event today in Singapore for over 100 investors, hosted by Mr. Victor and Mrs. Michelle Sassoon.About OurCrowd: OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community of almost 16,000 investors from over 110 countries has invested over $320M into 100 portfolio companies and funds. OurCrowd has already had nine exits to date: two IPO’s and seven acquisitions. To join OurCrowd as an accredited investor, visit http://www.ourcrowd.com and click Join.About United Overseas Bank: United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Western Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s and AA- by Standard & Poor’s and Fitch Ratings respectively. In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and representative offices. UOB plays an active role in the community, focusing on art, children and education. It has, over more than three decades, held the longest-running art competition in Singapore, the UOB Painting of the Year, which has since been extended across Southeast Asia. In recognition of its contributions to the arts, UOB was conferred the Singapore National Arts Council’s Distinguished Patron of the Arts Award for the eleventh consecutive year in 2015. UOB also encourages its employees across the region to be involved in its regular volunteer activities. This includes the annual UOB Heartbeat Run which is held in China, Indonesia, Malaysia, Singapore and Thailand.About Sassoon Investment Corporation: SassCorp is the family investment holding vehicle of the Sassoon family. Headquartered in Singapore, it has offices in Los Angeles and Jakarta, and is focused on investment and operations across Southeast Asia and the United States and is invested in the retail, F&B, technology, real estate and education sectors.