Digital wealth management e-commerce platform Gulf Wealth Management Limited (GWM) has started its public crowdfunding through equity crowdfunding company Seedrs in the UK.
GWM’s main objective is to link through an online platform the high net worth, affluent and mass affluent individuals in the GCC region with first class international institutional asset managers.
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The London-based firm is the first digital wealth management e-commerce platform focused on the investment needs of GCC investors.
It also is the first GCC-focused business to raise funds through a Public Crowdfunding Offer in the UK.
The initiative comes as GWM aims to develop a successful e-commerce business model in the GCC region, as exemplified by Hargreves Lansdown and Nutmeg in the UK, Wealthfront in the USA, and Alibaba for the Chinese market.
George Robb, non-executive chairman of GWM, said: "GWM’s Public Crowdfunding Offer is an opportunity for everyone, from small investors to business angels and venture capital firms, to own a small stake in the fastest growing segment of wealth management business that is predicted by industry experts to disrupt the traditional wealth management business in emerging markets."
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By GlobalDataMost recently, Bahrain-based Gulf Ventures Corporation (GVC) announced that it acquired an 8.3% stake in GWM as part of the company’s private round of fundraising prior to its planned crowdfunding offer in the UK.
Aiming to reach £600,000 in the fundraising, GWM has so far received over £115,000 from investors.
Regulated by the UK Financial Conduct Authority (FCA), Seedrs’ crowdfunding platforms allows general public, affluent individuals, angel investors and venture capital firms to discover and invest in high potential start-up businesses.
According to a recent research by Forrester, equity crowdfunding has allowed start-ups to raise $166m, while all categories, equity, rewards, and donation, reached $5.1bn worldwide in 2013.
GWM said it expects to achieve a top three market position in the GCC through the effective use of digital channels, alliance partnerships with regional brokerage firms, and by partnering with international investment management firms.
The company also revealed that after crowdfunding, it plans to target Series A fundraising (at a 20% discount to the price paid by such future investors), and expects to launch an IPO on the Qatar Ventures Market.
