Forus, a leading investment firm specializing in innovative startups across the MENA region, has announced the acquisition of a 36% stake in Biban, a Bahrain-based crowdfunding platform licensed by the Central Bank of Bahrain.
This strategic investment aims to provide alternative financing solutions through the following:
- Sharia-compliant Murabaha-based crowdfunding.
- Equity crowdfunding to support small and medium-sized enterprises (SMEs).
- Improving access to capital for entrepreneurs facing liquidity challenges and seeking growth opportunities.
Biban has successfully facilitated alternative funding for startups in Bahrain and the GCC, raising over $250,000 from more than 5,000 investors, including individuals and businesses.
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With Forus’ investment, Biban is set to expand its offerings and strengthen the entrepreneurial ecosystem. Leveraging Forus’ expertise and extensive network, the partnership will enable Biban to enhance its platform and reach more startups across multiple sectors.
Market projections indicate that the venture capital market in Africa alone is worth $2.9 billion, while SME credit pools are valued at $450 billion.
The global crowdfunding market is anticipated to grow to $40.03 billion by 2033, highlighting the increasing opportunities for startup financing through alternative funding models.
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