Exeter-headquartered crowdfunding website Crowdcube is to launch in the Middle East North Africa (MENA) region after forming a joint venture. Crowdcube MENA is led by a group of experienced bankers, entrepreneurs and asset managers with experience in US/Canada, Europe and the Middle East. Crowdcube MENA believes the region presents unique challenges.
However, given the success of Crowdcube, which is authorised and regulated by the Financial Conduct Authority (previously FSA) in the UK, it is considered possible to leverage this experience of working under a Tier 1 global regulator to implement a successful business model to service the MENA región. According to Omar Rana, co-founder of Crowdcube MENA, various regions are currently examined to assess the best way of leveraging Crowdcube's platform to provide crowdfunding in the MENA region.