NASSAU, BAHAMAS — ArawakX has experienced its first successful crowdfunding offer as more than 950 people raised over $1.7 million as shareholders to bring Red Lobster Pinnacle Brand to a successful raise.
The minimum raise amount for the offering is $1.5 million, while the maximum is $2.7 million. People can still participate as the raise will close when the maximum is reached or in just over three weeks.
D’Arcy Rahming Jr, chief technology officer of ArawakX, commented: “The market has clearly spoken.”
He added: “I believe that this is the first successful equity crowdfunding raise that has ever occurred in the Caribbean from an exchange.
“This is an important raise for the company and the country. It means the complete democratization of finance.
“People now have direct access to shares with or without having to go through major institutions. Everyone can contribute at their level.”
According to Rahming: “This successful raise has provided momentum for other companies looking to be listed on the ArawakX platform to be encouraged to move forward and prepare for their own opportunities.
“This includes the newest company that will be released to the public as soon as Monday, November 1st, 2021, pending permission from the Securities Commission of The Bahamas.”
ArawakX has a mix of over 160 local and international companies that are already under review that want to raise capital on its platform.
Rahming stated: “We encourage individuals to take the opportunity to register on ArawakX.com to invest in the companies presently listed or prepare for all of the new companies in the pipeline.”
ArawakX has poised itself to be an international platform to service companies throughout the Caribbean and the Americas. It has already established an office in Silicon Valley, California, and has plans to establish offices in Miami and throughout the Caribbean.
ArawakX is driven by the ethos of being a force of change that allows consumers to become owners in their respective countries by investing in shares.
According to Rahming: “I echo our advisor, Patrick Young, international stock exchange and fintech expert sentiments, that the only way to grow prosperity for all is to grow the economy for everyone.”