Harir proves Eureeca’s international appeal

Through Dubai’s crowdinvesting marketplace, Eureeca, Jordanian members-only shopping club, Harir, has become the first company in the world to successfully raise funds through an international platform

Harir has made history. The membership-based shopping website from Jordan has not only become the first of its country’s business to successfully crowdinvest, it has also become the first business in the world to raised funds through an international platform – Dubai’s Eureeca.

While other platforms only allow businesses to raise money within their own country, Eureeca allows investment to come in from just about anywhere. Something Harir has benefited hugely from, with investors from the UK, UAE and Saudi Arabia all contributing funds.

With interest from such a broad spectrum, it is no surprise Harir hit its target in just eight days.

Co-founder Mousa Ayoubi says: “We have raised $86,000 so far, which makes us 172 percent overfunded.  It’s really incredible – we never anticipated we would get there so quickly.”

Ayoubi, an engineering graduate with experience in Silicon Valley and the Jordanian Royal Court, and an MBA from Oxford University, started Harir with his sister, Hanae (who also holds an MBA, from London Business School) in 2012.

Noticing the growth of e-commerce in the region, the duo decided to strike while the iron was hot and launch an online shopping community, which quickly gained popularity.

Racking up 10,000 registered members, and 90,000 likes on Facebook, Harir currently ships to Jordan and Saudi Arabia, with plans to open links to the UAE and other GCC countries in the pipeline.

But as it is for most start-ups, the issue of finance was an early hurdle for Harir, prompting the founders to explore novel ways to raise money.

Ayoubi says: “We stated to talk to Eureeca about raising funds, and the fact that it’s one of the main challenges in this part of the world. We saw that crowdinvesting offers a solution to this – it’s a very strong alternative to traditional fund raising.

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Posted by: Rima Shak.

Great Job....
from great to greater Inshala ;)

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