It’s been only 3 months since we launched the Beehive platform and we’re very proud of the growth rate we’ve achieved to date. We’re happy to announce that the hundreds of investors on our platform have provided AED2.7 million in cost effective finance to the 10 businesses that requested financing through our marketplace. Investor returns were very strong, ranging from 8% to more than 16% APR. We’d like to thank all our investors and businesses for being active members of our community.
Last week we launched our Secondary Market, which allows investors to transfer their finance parts to others on the Beehive platform to get immediate liquidity. New investors can now immediately diversify their investment portfolio by accessing a broader range of businesses.
We also have developed a new tool called “Diversification+”. With Diversification+ investors maximize their potential returns by setting their own bidding criteria so that bids are automatically placed on their behalf when new businesses go live on our marketplace.
We’re excited by the amazing response we have received from the SME and investor communities and we look forward to continuing our efforts to revolutionise SME finance as the first peer-to-peer marketplace in UAE. The global growth of peer-to-peer financing is accelerating rapidly and its expansion into new markets is inevitable as businesses seek smarter solutions to SME financing. Financial marketplaces are becoming mainstream in UK and US as a credible alternative to the traditional financial system.
We’re building a strong community, with quality businesses and smart investors. We have established a committed and dynamic team of individuals who possess a wealth of experience of financial markets and technical innovation, both in the UAE and internationally – and we’re going to keep growing….
It’s been a fantastic journey so far, so we are very grateful for all the support of our investors and businesses. This is only the beginning, so stay tuned for more in the coming months!
