NAB is collaborating with an Israeli crowdfunding platform to offer startup investments

The National Australia Bank private banking division is partnering with Israeli crowdfunding platform, OurCrowd, to offer NAB customers access to OurCrowd startup investments.

The bank says it’s an Australian first giving its clients access to one of the world’s largest equity crowdfunding platforms, which entered the local market three years ago.

NAB Private executive general manager Christine Yates, said NAB clients will have access that is not available outside this collaboration.

“We know that our clients are looking globally for investment opportunities, and OurCrowd is an established global platform which offers a full service end-to-end solution,” she said.

Founded by Jon Medved, OurCrowd allows the average person to invest in pre-vetted startups alongside trusted venture capital investors and angel investors.

OurCrowd already has around 20,000 investors in more than 112 countries who’ve ploughed more than $600 million into 120 portfolio companies and funds. Since kicking off, it’s had 13 exits, two IPOs and 11 acquisitions.

It’s considered one of the coolest 25 tech startups in Israel.

It’s currently looking at funding Elon Musk’s Hyperloop One.

OurCrowd Australia and Asia managing director Dan Bennett said the deal with NAB Private will see its customers presented with investment deals focused on the USA, Israel and Asia-Pacific.

“We are excited about this venture with one of Australia’s leading private banks and sharing the very best of global technology investment with their deeply valued clients,” he said.

Simon Thomsen – Business Insider Australia – 5 Jun 2017