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Record 1,000 investors register on Beehive in 5 months

DUBAI, April 6, 2015

Beehive, a leading online marketplace for peer-to-peer finance in the UAE, has reached a critical milestone where over 1,000 people have registered to become investors since its official launch in November last year.

It represents an average month-on-month growth of 20 per cent in registration numbers since the company’s inception and serves as testament to the company’s ability to resonate in the market, said a statement.

The platform registered investors from a variety of different nationalities including Arab, British, Indian, South African, Dutch, Pakistani and Australian, it said.

What unites all is the desire for higher returns, paid out monthly, and in a more diversified direct investment into SME businesses.

The Beehive investor community has successfully provided funding in excess of Dh5 million ($1.3 million) to more than 15 businesses, with average investor returns of over 13 per cent annual percentage rate (APR).

The funded businesses span all sectors of industry including IT services, food wholesalers, management consulting and manufacturers.

The number of individual investor bids on the Beehive platform also showed a 30 per cent growth between each auction, signalling rapidly increased activity and engagement by investors on the platform.

Beehive’s peer-to-peer finance technology, based on established crowd-funding principles, reduces operating costs and streamlines processes compared to conventional finance routes.

The platform enables investors to earn returns from eight per cent APR to 20 per ent APR on medium term ‘Business Financing’ of up to 36 months and from 0.75 per cent flat rate to 1.5 per ent flat rate per month on short term ‘Invoice Financing’ for up to four months while diversifying their risk across many businesses on the marketplace.

Craig Moore, founder and chief executive officer, Beehive, said: ”Attracting over 1,000 registrations in the first five months marks a significant milestone for Beehive and we are excited by the amazing response we have received so far.

“The growth in the number of investors has been fuelled by achieving impressive investor returns, and a greater appreciation of peer-2-peer finance as well as the recent introduction of our sharia compliant structure. Beehive will continue to introduce services that help investors maximise their return while supporting SME growth in UAE.” - TradeArabia News Service




Tags: UAE | investor | Beehive |

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