Singapore bank teams with OurCrowd to advise clients on crowdfunding
Singapore-based United Overseas Bank (UOB) is entering the crowdfunding market via a partnership with Israel-based OurCrowd. UOB has invested $10m in the platform, which differs from other equity crowdfunding platforms in that it invests its own capital in each deal along-side crowd investors, and has trained over 100 of its bankers to offer advice on alternative financing. OurCrowd, which was founded on 2013, operates in a number of different countries and recently received regulatory approval to operate in Singapore.

United Overseas Bank (UOB) based in Singapore has embraced the Fintech revolution. Instead of fighting the inevitable, UOB has formed a partnership with one of the most prominent investment crowdfunding platforms around. OurCrowd is based in Jerusalem but they operate across the globe. OurCrowd has just recently received regulatory approval from the Monetary Authority of Singapore to operate in the country. The relationship between the two financial firms may be a precursor to similar arrangments by OurCrowd in other countries. If you are curious as to how the structure is expected to operate, UOB has crafted a nice infographic to visualize how old finance and new finance may work together.

Click to enlarge.