Dubai – Mubaser: Smart Crowd, the real estate crowdfunding investment platform, on Monday announced the completion of its Seed funding round, with investments amounting to $600,000.
During the round, the platform managed to attract major financing from Shorooq Investments, DLT firm Abaxx Technologies, 500 Startups, and individual investors, according to a statement.
Smart Crowd currently operates under an Innovation Testing License (ITL) from Dubai’s Financial Services Authority (DFSA), which allows UAE residents to invest in Dubai properties, however, it plans to pursue a full licence, which would allow citizens “around the world” to invest in other parts of the world through the platform.
The startup had won the Accenture Innovation Award at GITEX 2017, securing a place in the inaugural round of Dubai International Financial Centre's ‘Fintech Hive’, the region’s only Fintech Accelerator. It also won the Sharjah Entrepreneurship Festival pitch competition and became part of the Sharjah Entrepreneurship Centre (Sheraa's) incubator programme, according to Smart Crowd co-founder Siddiq Farid.
