SANTIAGO, Chile: CrowdPal, the first online equity crowdfunding platform created specifically to revolutionize the way people invest in Palestinian entrepreneurs and emerging businesses to support economic and social change, today announced that their inaugural campaign has successfully reached its funding goals.
The announcement comes after RedCapital -- a web platform that connects investors with small and medium-sized enterprises requiring loans that are traditionally expensive to serve by the bank -- secured USD $300,000 in commitments on the CrowdPal platform from 11 backers across a 2-month long campaign.

The funding will allow RedCapital to finance the startup's ambitious growth strategy, which includes expanding operations from Chile to Peru and Colombia.

CrowdPal, which launched with an initial concentration on the Chilean market due to its predominate Palestinian community of around half a million -- views Chile-based RedCapital's success as validation of their core mission of inspiring positive change by supporting early-stage Palestinian companies or those founded by Palestinian entrepreneurs. RedCapital, which was founded by a Chilean Palestinian, Gustavo Anania, has plans to hire four technology engineers and developers immediately to work on their technology platform, creative new quality jobs in Palestine.

"Not only are we able to provide unique and attractive new investment vehicle alternatives, but we're able to simultaneously invest in the future of Palestine through new job creation, economic stimulation, and innovation -- all of which are in seriously short supply. The ability to do well while also doing good is a huge value add that investors on our network find highly appealing," said CrowdPal Founder Anas Hamed.

Since wrapping up their CrowdPal campaign, RedCapital has continued gaining significant traction and building on their momentum.

The company was recently named Best Startup at Seedstars Chile, the Chilean edition of Seedstars World -- a global startups competition currently touring emerging markets. RedCapital will go on to represent the country at the Seedstars Summit in Switzerland in April 2018. In addition to meeting with 80 other winners, global investors, and mentors, the team will participate in a pitch competition in front of an audience of more than 1,000 attendees for the chance to earn up to $1 million in investment capital.

While the ability to access funds in occupied territory mired in geopolitical hostilities has long posed significant challenges for even the most resourceful of entrepreneurs, the CrowdPal team remains passionately optimistic that creating more avenues for innovation and fostering a thriving startup ecosystem can ultimately act as a catalyst to bringing about social and economic prosperity and independence to the region.

"Despite the steep hurdles that entrepreneurs face regarding limited resources and the obvious issue of political turmoil, the Palestinian startup and tech scene is growing and incredibly resilient, and there's a wealth of amazing ideas waiting for life to get breathed into them, said Hamed. "Anything is possible. Just look at what Yamsafer has accomplished. With CrowdPal, we giving people all over the world the opportunity to play a direct role in completely rewriting the narrative of Palestine."

(Posted on 15 October 2017, 1675574926 3O236O47O240)