26 Sep Eureeca launches in the Netherlands
As an already established member of Holland FinTech member, Eureeca touched down in the Netherlands last week with the official launch of their continental European hub. The team celebrated their launch with the successful second edition of the Eureeca Netherlands Pitch night as a warm up to Amsterdam Capital Week this week. Time to catch up with co-founder & co-CEO Chris Thomas to get to know more about Eureeca and what keeps them busy.
Eureeca is an equity-based online crowdfunding platform which differentiates itself by offering extensive support to entrepreneurs throughout the process and by offering a truly global network of investors and entrepreneurs. “Equity based crowdfunding is not an alternative way of funding, it is the way of funding,” says Chris. “Getting funding as an entrepreneur is a painful process, and while Eureeca can not fully relieve this, it can make the whole trajectory easier. Of course you still have to meet with investors and pitch your proposition, Eureeca just facilitates all this through their platform.”
Their headquarters are in Dubai where they are regulated. They are also regulated in the Netherlands, the United Kingdom and Malaysia, giving them access to the European, Middle Eastern and South East Asian markets. These licenses from all around the world are Eureeca’s main asset in building a global platform on which an investor in Europe will be able to invest in a campaign in Asia, for example. Amsterdam was selected as Eureeca’s continental European hub after carefully ranking cities based on the attractiveness of their startup ecosystem. They obtained their license from the AFM by passporting their UK FCA license, which makes them the only platform in the Netherlands to be regulated with higher controls than currently active platforms. From here, Eureeca plans to continue expansion to Germany, and Estonia later on. Having a global reach, the platform becomes an attractive option for business wanting to expand operations abroad. If, as a business, you want to move to Malaysia, wouldn’t it be great if you can actually get funded and get insights from a Malaysian investor?
Eureeca is not however the only platform of its kind, many more exist. This competitiveness in the field is key to what Eureeca offers as it requires them to create a compelling proposition. CrowdCube, for example, the world’s largest equity based crowdfunding platform, has a massive customer base. Eureeca does not (yet), so they have to attract investors and entrepreneurs with something other platforms do not have. With a board of directors consisting of many ex-bankers, Eureeca has the knowledge and experience to know what investors want. Within platform trading, for example, something Eureeca wants to add to their equity product offering in the future allowing investors to trade their assets.
The first Dutch campaign running on the platform is Mundo 3D, a 3D metal printing company creating dental solutions, looking to raise €200,000 through the platform. Eureeca’s second Dutch campaign is Cabture which creates engagement for passengers travelling in taxis using internet connected tablets. According to the Cabture team, which aims to raise €300,000 in funding, “People spend 1.5 hours on average traveling a day, which is often wasted time. Cabture aims to create a unique interactive experience which is valued by travelers, drivers and brands.”
Looking at the diversity of early investors on Eureeca’s Dutch campaigns, we see their goal of becoming a global platform resonating well in the market.
