Dubai’s real estate crowdfunding platform, SmartCrowd raised $3 million in a recent bridge round. The Bridge round was led by Mad’a Investment Company and witnessed participation from Amaana Capital and several prominent angel investors.
“As part of our strategy to invest in companies that add exceptional value through their innovative ideas to the Kingdom and the region, SmartCrowd will open up new investment channels to individuals looking for relatively safe methods for passive income,” Abdullah A. Al Othaim, CEO of Mad’a investment, commented.
Founded in 2017 by Abdul Kadir Faizal, Musfique Ahmed and Siddiq Farid, SmartCrowd has attracted several investors throughout the years with their UAE real estate market’s online portal. Till this point, SmartCrowd has made transactions of over AED50 million.
SmartCrowd will use the funds obtained to expand its operations into new markets including Pakistan and Saudi Arabia.
“Our latest bridge funding will help us rapidly scale to new heights and continue our mission of making alternative investment universally accessible to the masses. Average investor has been historically restricted to traditional asset classes such as shares and bonds and unable to diversify their wealth into alternative assets like the wealthy to preserve and accumulate wealth. Now more than ever, it is prudent for people to construct investment portfolios that withstand market volatility” Siddiq Farid, CEO and Founder of SmartCrowd, said.
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