NASSAU, BAHAMAS — ArawakX, the nation’s only SCB-regulated crowdfunding platform is set to launch a new medical company next month.
While not being able to divulge the company’s name or details due to regulations, the company spokesman D’Arcy Rahming Jr said: “This company is at the forefront of one of the most important health issues facing the region.
“It is one of three innovative medical companies that will be featured in the next few months. We are seeing increased interest in medical technology that will position the Bahamas as a medical hub for alternative treatment methods.”
The medical companies are both local and foreign and are in the process of being fully vetted.
“The Bahamas has a unique opportunity for medical innovation as it is right next to the United States and recognizes European and Asian certifications in addition to the FDA.”
According to company representations, the three companies have traction and the possibility of extending to international markets outside of the Bahamas.
Through the Bahamas’ crowdfunding rules, individuals and institutions will have the opportunity to be a part of early-stage funding. In the past, only wealthy investors, called accredited investors, could invest in companies that were not mature companies. This meant of course that if a company grew multiple times only accredited investors could benefit. The idea being that only accredited investors could afford to take the risk of the company not being successful or people were not financially literate enough.
“The internet changed the information deficit between all classes of people regardless of personal wealth. By allowing all investors to have access to all public information at the same time, the internet has created the opportunity for all people to have access to ownership in the new economy,” said Rahming.
ArawakX has seen continued success with the latest offering, Tropical Gyro, which is a restaurant business.
“In 41 days, we have seen over $280,000 in pledges come in from over 504 investors. Once these pledges are converted to payments the company will be very close to it’s $320,000 success, said Rahming.
“Through the marketing data we have collected investors come from all walks of life and from many islands. And the amounts vary from the minimum $36 to over $50,000. The hunger for investment across the land is very real.”
However, one of the barriers to investment is the expense of getting started.
According to Rahming, ArawakX is right in the middle of the national conversation on finance. ArawakX’s technology along with rules approved by the commission gives the ability to lower the cost to investment for both the issuer and the investor.
“At a time when there is controversy with the fees of the financial institutions ArawakX is able to offer investment with no account opening or administrative fees. This provides relief to many and allows for individuals to stretch their investment dollars further,” Rahming said.
