Equity crowdfunding platform OurCrowd, which is a partner of Singapore’s United Overseas Bank (UOB), today announced that it has raised a US$72 million in Series C round of funding from various parties, including “financial institutions, family offices, and private investors from five continents.”
The company plans to use the funding to expand its global team and develop the platform. A portion will be invested in companies raising funds on OurCrowd.
“One half of the Series C funding will be invested in the expansion of our seven global offices and to further develop our technology platform. The other half will be used for OurCrowd to invest our own capital alongside the crowd investors into the companies raising funds on the platform. We envision that this new capital will power the next US$1 Billion to be invested on OurCrowd,” OurCrowd CEO Jon Medved said in a press statement.
“OurCrowd has grown exponentially since our launch in 2013 to become the leading global platform for equity crowdfunding. This transformative Series C funding will allow us to take advantage of the growing investor interest in quality equity crowdfunding and further expand our global operations,” he added.
OurCrowd says it has invested in 100 portfolio companies and funds on its platform, with the total investment exceeding US$300 million.
Seven of its portfolio companies have been acquired while another two have been listed publicly, such as ReWalk (IPO: Nasdaq), Crosswise (bought by Oracle), Replay (bought by Intel) and NextPeer (bought by Viber).
In August, the company announced that had received a full Capital Market Services (CMS) license from the Monetary Authority of Singapore (MAS) at the end of July, enabling it to market its equity crowdfunding platform in the country.