South Korea's KEB Hana Bank Partners with Israeli Equity Crowdfunding Company OurCrowd
OurCrowd has started its Asian expansion in 2015, and has since signed partnerships with several leading Asian financial institutes
Israel-based Equity crowdfunding company OurCrowd Ltd. announced last week a partnership with Seoul-headquartered Korea Exchange Bank (KEB) Hana Bank, a subsidiary of one of South Korea's largest bank holding companies, Hana Financial Group.
For daily updates, subscribe to our newsletter by clicking here.As part of the partnership, KEB Hana will take an equity stake in current and future OurCrowd portfolio companies. The two have also signed a memorandum of understanding, to work within South Korea and support its "innovation system," OurCrowd said.
Seoul. Photo: Dezeen
Founded in 2013, Jerusalem-based OurCrowd offers accredited investors a way to participate in investments in pre-vetted startups, mostly Israel-based. The company has raised over $800 million and invested in 170 portfolio companies and funds to date.
OurCrowd has started its Asian expansion in 2015, and has since signed partnerships with financial institutes including Mumbai-based wealth management company Reliance Private Client; Hong Kong-based CITIC Pacific, a subsidiary of Beijing-headquartered, state-backed CITIC Group Corporation Ltd.; Singapore's United Overseas Bank Ltd.; and China's Shanghai Commercial Savings Bank. In August, the company's seed stage incubator announced a collaboration agreement with two South Korean venture capital firms, Development Trusts NI (DTNI) and Yozma Group Korea.