May 10, 2021
Rasameel Investment Company signed a Memorandum of Understanding with the “Try it Tech” company regarding investment in the field of financial technology to provide Crowd Funding and Investment Services by working on establishing platforms for financing collective ownership in Kuwait.
The Executive Vice President of Rasameel Investment Company, Dakhil Al-Dakhil, said that technological developments in the world of investment and finance are moving towards providing more investment opportunities for a greater number of people to participate in it, so crowdfunding has come to allow the public and individuals to invest and seize investment opportunities directly and without exorbitant costs and fees.
He stated, “Rasameel seeks to keep pace with advanced financial technology and innovative programs, and to strengthen its position as a leading company in this field to contribute to accelerating the growth and development of financial technology in Kuwait and spreading the culture of financial technology.”
Al-Dakhil indicated that Rasameel Company will coordinate with the regulatory authorities to obtain the appropriate license to engage in crowdfunding platforms within a scope that provides an opportunity for investors to benefit from the development of investment services offering because “it will contribute to solving financing problems for emerging creative projects.”
For his part, Saleh Al-Taneeb, one of the founders of Try it, said that the crowdfunding experience is still in its infancy in Kuwait, but awareness of such activities is growing with an increase, especially with the entry of a large segment of the Internet generation into the job market.
Al-Taneeb added, “Our partnership with Rasameel is a strategic partnership and a quantum leap to provide products of an investment nature to a larger segment of customers and to develop various products and services to support specialized entrepreneurial enterprises.”
Al-Taneeb stated that crowdfunding platforms have become one of the most successful methods of financing small and medium enterprises in developed markets due to the growing influence of information technology in the areas of financial technology and finance, and that they are becoming more influential than ever before.