Ethiscrowd
Type of site | Impact investment, Crowdfunding |
|---|---|
| Headquarters | Kuala Lumpur, Jakarta, Oman |
| Founder(s) |
|
| Key people | Wan Dazriq, CEO of Ethis Malaysia Mohamed Shehzad, CEO of EthisX, Ifran Tarmizi, CEO of GlobalSadaqah |
| Website | ethis |
| Launched | 2015 |
Ethis Group (formerly Ethiscrowd) is a global fintech company focused on Ethical crowd investments. Ethis operates investment platforms approved by regulators in Indonesia, Malaysia, Dubai and Oman, and also runs a charity platform GlobalSadaqah which has been recognised with numerous awards including the Global Islamic Finance Awards. Ethis Group's services and products target investors looking for ethical and shariah-compliant investments aligned with Islamic and ethical principles.
The parent company, Ethis Global Sdn Bhd, is headquartered in Kuala Lumpur, Malaysia, with branches in Jakarta and Oman. It has a growing community of 40,000+ ethical and crowd-investors and donors from over 80 countries. Ethis is known for providing funding for social housing development projects in Indonesia since 2014.
Over the past 3 years since the pandemic started, Ethis actively launched in-demand investments products, including short-term, high-yield supply-chain financing projects in Indonesia and equity investment in ‘future tech’ startups in Malaysia.
History[edit]
Ethis first started its operations in 2015 when it took up modest scale social housing financing projects in Indonesia through its flagship Peer-to-Peer crowdfunding platform. It has since then grown its global community of investors from more than 80 countries,funding development projects to build more than 10,000 homes.
Ethis’ platforms match global investors and donors directly to real-world impactful and sustainable projects and companies in fast-emerging Southeast Asia. They serve a wide range of funders, including high net worth individuals, foundations, institutions and corporations.
Early Recognition[edit]
In 2016, Ethis was recognised by the Securities Commission Malaysia (SC) as one of the early operators for peer-to-peer investment. In that same year, Ethis developed a partnership with a Waqf (Islamic Endowment) crowdfunding platform known as WaqfWorld at the 12th World Islamic Economic Foundation Forum (WIEF) held in Jakarta.
Establishment of GlobalSadaqah[edit]
In 2018, Ethis launched its subsidiary company, GlobalSadaqah as a charity crowdfunding marketplace that plays a vital role in matching donors and Islamic economy players to better distribute social finance and zakat to verified NGOs and social enterprises across the globe. In 2019, GlobalSadaqah spun off as a stand-alone entity under the larger Ethis Group. Aiming to be the nucleus of the social finance ecosystem, GlobalSadaqah provides a trusted gateway for impactful donations to war-torn and poverty-stricken countries like Yemen, Syria, Palestine, Bangladesh, Myanmar, Nigeria, Afghanistan, Cambodia amongst many more that would be hard to reach for an average individual.
Throughout the first offset of the COVID-19 pandemic, GlobalSadaqah had been actively involved in various fundraising campaigns to help the communities across the world. Some of their notable campaigns include donations and food baskets for Malaysian flood victims, disinfecting public places, fundraising for providing laptops for online learning for B40 groups, and collaboration with KitaJagaApp in helping communities that are in desperate need but were affected by the Movement Control Order (MCO) restrictions during the white flag movement (#KibarBenderaPutih). They have actively promoted education and empowerment programs for refugees, orphans, and single mothers. GlobalSadaqah notably hosted a campaign for the first-ever translation of the Quran in the Rohingya language. Along with this, they focus on green and sustainability-driven campaigns around the world via their verified charity partners and also open doors for their donors to establish awqaf (endowments) across multiple countries.
In 2022, with donors from over 80 countries, GlobalSadaqah provides its donors the ability to donate in multiple international currencies, cryptocurrencies, and digital gold.
ECF Licence[edit]
On May 17, 2019, Ethis was awarded an equity crowdfunding license by Securities Commission Malaysia (SC). The following year, Ethis Group officially launched the first fully Shariah-compliant equity crowdfunding platform in Malaysia, to be known as Ethis Ventures, at the Islamic Fintech Week 2020 (IFW2020).
PT Ethis Fintek Indo[edit]
In Indonesia, ethis.co.id is licensed by the Financial Services Authority to operate its Peer-to-peer (P2P) financing platform where it provides Shariah-compliance (participatory and sustainable) financing to SMEs and Property projects.
GlobalSadaqah Global Guardian Sdn Bhd[edit]
Also part of Ethis group, GlobalSadaqah is a social finance marketplace focused on matching credible charities and social enterprises to corporate, high-networth individuals, government and religious bodies, public donors and supporters.
Ethis Ventures Sdn Bhd[edit]
In Malaysia, Ethis.co/my is a Recognised Market Operator (RMO) licensed by Securities Commission to operate its Equity Crowdfunding platform to raise funds for Malaysian companies.
Ethis Malaysia is focused on the property, business, agriculture sectors, and waqf assets that offers access to investment opportunities in distinctive and promising companies. It serves as a platform for entrepreneurs to showcase their company to a community of global investors, prioritising on deals that provide strong social impact.
EthisX - EIP Platform[edit]
Established in early 2022, and regulated by the Sultanate of Oman Capital Market Authority, EthisX is one of the first cross-border Ethical Private Capital Marketplace of its kind.
Operated by Ethis Investment Platform LLC, EthisX serves to connect the mass and emerging affluent retail segments, HNWIs and corporate investors which are looking for shariah-compliant and ethical investment opportunities to startups and growth companies around the world.
Fundraising Rounds[edit]
Ethis raised a pre-seed round worth US$360,000 in 2016.[1] Investors include Singapore-based venture fund Quest Ventures.
In 2021 Ethis raised about US$1,100,000 as part of its seed round fundraisers
Partnership[edit]
Over the years, the Ethis Group has formed many strategic partnerships with significant Islamic finance institutions and other business organisations such as Bank Islam, Alliance Islamic Bank, Kuwait Financial House (KFH), HelloGold, Halal Development Corporation, Maybank Syariah, The Noor App, Alibaba Cloud, SalamWeb, Boost, Fintech Syariah Indonesia, AmanahRaya Trustees, IFT Alliance, to name a few.
It also entered into a partnership with Islamic Development Bank to raise $1Million to fight avoidable blindness in the African continent.[2]
Ethis has been an active participant of the United Nations Global Compact initiative since January 2016[3], implementing universal sustainability principles and projects, supporting the UN's Sustainable Developmental Goals.
Awards[edit]
- 2021, IRBA Best Islamic Crowdfunding Platform in the World, Ethis Group
- 2020, US$100,000 Innovation for Impact grant by Dubai Expo, Ethis
- 2020, IFN Best Islamic Crowdfunding Islamic Platform, GlobalSadaqah
- 2019, IFN Best Islamic Crowdfunding Islamic Platform, Ethis Fintek Indonesia
- 2018, IFN Best Islamic Peer to Peer Finance Platform, Ethis
- 2018, IFN Best Social Impact Islamic Fintech Platform, GlobalSadaqah
- 2016, GIFA Best Islamic Crowdfunding, Ethis
- 2016, Islamic Economy Award, Ethis
- Winner of Global Islamic Finance Awards in 2016
- Winner of GIES 2016-Islamic Economy Award 2016[1] at Global Islamic Economy Summit
References[edit]
- ↑ "GIES 2016-Islamic Economy Award 2016 winners announced at Global Islamic Economy Summit". Retrieved 2018-05-01.
Kita Jaga App Looks to Crowdfund RM200,000 on GlobalSadaqah’ fintechnews.my. Retrieved 2021-09-02.
Ethis Group receives the prestigious title ‘World Best Islamic Crowdfunding Platform 2021’ from Cambridge IFA salaamgateway.com. Retrieved 2021-12-29.
Ethis Group Launches First Fully Shariah-Compliant Equity Crowdfunding Platform in Malaysia Crowdfund Insider. Retrieved 2020-09-19.
World Islamic Fintech Awards 2020: Rainbow after the storm IFNFintech. Retrieved 2021-04-08
Ethis Ventures receives Malaysia's first Islamic ECF license. www.digitalnewsasia.com. Retrieved 2019-05-21
World Islamic Fintech Awards 2019: Strength in diversity IFNFintech. Retrieved 2019-02-14.
Islamic social finance crowdfunder Global Sadaqah aims to double funds raised this year from $250,000 in 2018 salaamgateway.com. Retrieved 2019-04-18
Tech in Asia - Connecting Asia's startup ecosystem. www.techinasia.com. Retrieved 2018-05-01.
Islamic Fintech Venture Firm Ethis Ventures Announces Crowdfunding Partnership with the Islamic Development Bank | Crowdfund Insider. Crowdfund Insider. Retrieved 2018-05-01.
WIFA 2018: Honoring the very best of Islamic fintech IFNFintech. Retrieved 2018-11-06.
Ethis Pte Ltd. | UN Global Compact. www.unglobalcompact.org. Retrieved 2018-05-01.
GIES 2016-Islamic Economy Award 2016 winners announced at Global Islamic Economy Summit. Retrieved 2018-05-01.
Singapore Based EthisCrowd Recognized as Best Islamic Crowdfunding Platform. Crowdfund Insider. Retrieved 2016-10-07
Malaysia first to regulate P2P financing, after SC introduced six P2P operators. www.digitalnewsasia.com. Retrieved 2016- 11-06
World’s First Islamic Endowment Crowdfunding Platform Launched Crowdfund Insider. Retrieved 2016-08-03
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