April 28, 2014 / 2:51 PM / 5 years ago

Israel's OurCrowd raises $25 mln in private funding round

JERUSALEM, April 28 (Reuters) - Israeli equity crowdfunding platform OurCrowd said on Monday it raised $25 million in a private funding round.

Terms of the investment and the list of participants in the round were not disclosed.

The investment will be used to further expand its Israeli and global activities and to provide general partner funding participation for each OurCrowd deal on its website, the company said.

Equity crowdfunding resembles services offered by online fundraising sites, through which creative projects gather donations from supporters. It offers those who give cash non-listed shares in return for their investment.

Since launching in February 2013, OurCrowd has raised more than $30 million and another $43 million for its 36 portfolio companies from accredited investors in 26 countries.

OurCrowd began with investments in early stage Israeli companies but four of its last 10 equity crowdfunding deals were in companies based abroad. (Reporting by Steven Scheer)

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