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Crowdfunding

Shoham Business to raise NIS 50 m through crowdfunding

crowdfunding

This is the first time that an Israeli public company has turned to crowdfunding to raise debt.
Non-banking credit company Shoham Business (TASE: SHOM), controlled by Eli Nidam, is planning to expand its activity by raising NIS 50 million (£9974404) in debt through the Fundit crowdfunding website.

Poalim IBI Underwriting and Investments (TASE: PIU) and Moonbuzz Capital, controlled by Yossi Arad, former right hand of Ilan Ben Dov and former CEO of Tao Tsuot, which went bankrupt), are organizing the funding drive.

If the campaign is successful, it will be the first case of debt being raised by a public company on a crowdfunding website. Poalim IBI invested NIS 4 million early this year in the Fundit website, founded by Israeli crowdfunding venture Headstart, and received 14% of Headstart’s shares.

Paul

The author Paul