OurCrowd announces expansion to Taiwan

By Lisa Walls-Hester on Saturday 18 February 2017

Savings and Investment

OurCrowd, has announced its expansion in Asia with a new Taipei office and financial partner, Shanghai Commercial & Savings Bank (SCSB).

Jon Medved, founder and CEO of OurCrowd said: “We see Taiwan as one of the major technology and innovation centers in the world and are excited to be partnering with one of Taiwan's leading banks, SCSB”

Recently, SCSB received the approval of the Financial Supervisory Commission, to invest in Israel’s equity crowdfunding platform OurCrowd, making it Taiwan’s first bank to invest in an overseas FinTech equity crowdfunding platform, and becoming OurCrowd’s strategic alliance partner in Taiwan.

Denes Ban, OurCrowd’s managing partner Asia, who will lead the initiative said, “The goal of the expansion is threefold. Firstly, to help Taiwanese small and medium-sized enterprises to get more funding. Secondly, to help Taiwanese investors to diversify and invest into global startups and thirdly, to connect the latest disruptive Israeli tech with Taiwanese companies to be more effective and efficient in reaching global markets.’’

SCSB Director of Board and Executive Vice President and Chief Information Officer, Mr. John Yung, said, “The objective of the bank's investment in Israel’s OurCrowd equity crowdfunding platform, aside from wanting to generate investment income, also aims to be able to use its investment to access foreign start-up companies, and the latest financial technology, network security technology, and innovative financial services. At the same time as introducing Israel’s OurCrowd to Taiwan, it hopes to facilitate its understanding of the progress of new developments in the country, improve OurCrowd’s investment opportunities in Taiwan, and inject fresh funding sources into new Taiwanese ventures.”

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