Manama, Beban W.L.L., a wholly-owned subsidiary of Hope Ventures, announces the integration of its equity crowdfunding platform, Beban Crowdfunding, with Kuwait Finance House – Bahrain’s digital mobile app (KFHB Wealth) to ease investors’ and entrepreneurs’ access to investment opportunities.
Beban Crowdfunding’s mission is to bridge the funding gap and to provide a secure platform that empowers investing in equity-based opportunities. Beban Crowdfunding opportunities are available for both Accredited and Retail investors at accessible minimums starting from USD 100.
Through the partnership, all of KFH-Bahrain’s clients will benefit from the ease of access to unique business opportunities through the KFHB Wealth application, which will be integrated with Beban Crowdfunding platform. The integration will allow KFH-Bahrain’s existing customers to undergo a seamless digital onboarding process to Beban Crowdfunding, utilizing the pre-existing account verification process conducted at KFH-Bahrain. This comes as part of the Bank’s continuous efforts to support Bahrain’s entrepreneurship ecosystem while simultaneously enabling and empowering the public to invest in scalable businesses.
Commenting on the partnership, Aymen bin Tawfiq Almoayed, Chairman of Beban W.L.L., shared: “Beban Crowdfunding was launched to ease access for businesses to funding opportunities while simultaneously enabling and encouraging a larger segment of individuals and corporates to become investors themselves. As with any private-public partnership, this collaboration between Beban Crowdfunding and KFH-Bahrain further boosts the mission of easing entrepreneurs’ access to an alternative financing solution where they can highlight their businesses to investors locally and regionally.”
Abdulhakeem Alkhayyat, Managing Director and CEO at Kuwait Finance House – Bahrain, “It is our pleasure to partner with Hope Ventures to support the Beban Crowdfunding platform to enable a thriving and supportive digital investment environment for promising projects that can develop and grow. This is in line with our aim of supporting promising entrepreneurs by investing in their ideas and providing them the ability to scale their businesses, cementing our firm belief in our social responsibility towards the youth. This initiative further reflects our unwavering commitment to stimulate investment in the Kingdom, which unlocks new horizons for entrepreneurs with innovative projects in the Kingdom. We aspire to establish more strategic partnerships and collaborate with various public entities to unify and strengthen our collective efforts to contribute to the Kingdom’s economic recovery plan and advance economic diversification”.
He further added, “The platform provides opportunities for both entrepreneurs and investors, and it supports the rise in investors’ acceptance of such calculated risks at minimal amounts, which would contribute to increased participation from the investors interested in this kind of investment opportunities. Initiatives such as these are the driving force behind a prosperous future for SMEs and businesses, as well as economic recovery and responsible growth.”
Salman Mazen Matar, General Manager of Beban Crowdfunding, shared: “I am thrilled to be partnering with KFH Bahrain, as this collaboration will further amplify Beban Crowdfunding’s efforts towards allowing access to a wider network of investors who are empowered to take the lead on investing in opportunities presented on Beban Crowdfunding with accessible minimal ticket sizes. Our goal is focused on providing a safe and secure crowdfunding platform with making access as easy and seamless as possible, and undoubtedly, KFH will play a significant role in achieving that goal.”
Rashid Alkhan, Head of Wealth Management & Private Banking at Kuwait Finance House – Bahrain: “We are pleased to be partnering with an incubator for promising Bahraini youth, as through this partnership, we look forward to creating a digital system that supports the entrepreneurship environment in the Kingdom. As part of this partnership, we will be hosting Beban’s Crowdfunding platform on our digital application. This will positively contribute to the startup investing culture in Bahrain and will help source new capital for promising ventures. Furthermore, it will provide our valued clients’ access to a new asset class, allowing them to diversify their overall investment portfolio.”
KFHB Wealth is available for immediate downloading on App Store and Google Play and will allow individuals and organizations interested in investing in opportunities listed on Beban Crowdfunding with ticket sizes as low as USD 100. This will provide investors with ease of access to investment opportunities that were not previously available.
It is worth noting that the platform comes timely alongside the airing of its entrepreneurship-themed reality TV show, ‘Beban,’ which will allow retail and accredited investors to invest in opportunities pitching on the show beside reputable investors. This makes Beban TV show the first interactive reality TV show in the world with a crowdfunding element to it.
Source: Bahrain News Agency