United Overseas Bank is deepening its commitment by training its commercial bankers to provide startups with the most up-to-date information on alternative funding.
More than 100 of its bankers have been trained so far, United Overseas Bank (UOB) writes in a press release. The training is timely as the Bank’s strategic equity crowdfunding partner, OurCrowd, a leading global equity crowdfunding platform, was awarded a full Capital Market Services (CMS) licence from the Monetary Authority of Singapore (MAS) at the end of July.
With the licence, OurCrowd is now able to market its equity crowdfunding platform in Singapore.
In March this year, UOB announced it had made a $10 million investment in OurCrowd, which invests in startups with differentiated and highly technology products and services. UOB’s partnership with OurCrowd reinforced the Bank’s commitment in supporting Asian SMEs startups with end-to-end financing needs. The range of support includes UOB’s accelerator programme, The FinLab, to venture debt financing through to investment banking.
Janet Young, Head of Group Channels and Digitalisation, UOB, said: «In the last months, we have trained more than 100 commercial bankers to identify and to understand the type of financing for which startups can qualify. Through our initiatives, we are well-equipped to support the startup ecosystem and help them realise their full potential.»
