UAE Based , YourVC.club has successfully been granted an “Innovation Test License” by Dubai Financial Services Authority (DFSA) and has announced it is ready for startups to raise funds through its Crowdfunding platform aided by Blockchain. YourVC.Club is the one of the first live Ethereum based blockchain crowdfunding platform in the Middle East. In addition the firm intends to convert the test license into full license by demonstrating the benefits of the proposed social fintech platform of crowd investing.
Investors from UAE can now on board themselves into the crowdfunding platform. The platform boasts of offering next-gen solutions like Tokenization, Listing, Marketplace, which is backed by the cutting edge Blockchain technology. The sole aim is to provide support to the SMEs and start-ups in UAE who are looking to raise early-stage Pre-VC funding.
One of the distinguishing feature behind tokenisation is that it increases liquidity wherein community members can unlock their investments whenever they need. Another competitive advantage is that tokenization is a great way to provide a digital representation of the actual shares held by the investors in their Blockchain Wallet, thereby bridging the gap of actual shares (off-chain) and its digitised version (on-chain).
Companies who use YourVC platform’s Blockchain function can raise funds from UAE investors as of now. It extends investment exposure to almost anyone in UAE who has access to the Internet, and willing to support SME & startups, resulting in entrepreneurial growth.
The firm intends to protect investors’ interests with the right mix of regulation while achieving liquidity and blockchain digitization simultaneously. The firm hopes that post Covid-19, where funding avenues have dried up, the cutting edge platform can provide the necessary boost to start-ups while creating a vibrant crowd investor community in UAE that not only invests but supports them throughout their journey.