ArawakX says that it plans to list another 12 companies on its local crowdfunding platform within the next three months.
ArawakX is the first licensed equity crowdfunding platform in The Bahamas. The company’s executives recently revealed that only one of the first three companies to be listed on ArawakX’s platform met their minimum funding target. Red Lobster Bahamas, headed by well-known businessman Chris Mortimer was successful in raising more than $2 million on the platform.
ArawakX’s chief technology officer D’Arcy Rhaming Jr noted that the ArawakX platform is still very new to the Bahamian public and there needs to be more public education around crowdfunding.
Rahming noted that ArawakX has made adjusted its website to make it more user friendly for persons looking to invest in companies on its platform. Local restaurant Tropical Gyros, headed by chef Kevin Culmer was recently listed on the company’s platform as it seeks to raise $850,000 to finance its expansion.