United Overseas Bank Trains Bankers on Alternative Finance

Singapore-based United Overseas Bank has started conducting training sessions with over 100 commercial bankers on alternative financing as it looks to strengthen its support for startups through its recent $10 million investment in equity Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term platform OurCrowd.

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OurCrowd is one of the largest equity crowdfunding platforms in the world. Launched in 2013, the company has so far raised more than US$250 million for investment in almost 100 companies, eight of which have gone on to be acquired by a multinational or listed publicly.

MAS Licence

The company in which UOB took a stake in March this year was awarded a full Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS) at the end of July.

UOB sees its relationship with OurCrowd as reinforcing the “Bank’s commitment in supporting Asian SMEs and startups with end-to-end financing needs.”

SME support includes UOB’s Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term programme, The FinLab, as well as venture debt financing through to investment banking.

Janet Young, head of group channels and digitalisation, UOB, commented: “We understand the ambitions of startups and emerging enterprises and want to help them grow into sustainable businesses. In the last six months, we have trained more than 100 commercial bankers to identify and to understand the type of financing for which startups can qualify.”