Equity crowdfunding platform ArawakX and digital ecosystems developer Pendry Cannon have formed a strategic partnership to produce the first pan-Caribbean securities exchange, through ArawakX’s new crowdfunding platform, a statement on the partnership revealed.
ArawakX is working fast to lead the development of crowdfunding into the Caribbean “to help both Caribbean and international companies raise capital”.
The company announced last month that it opened an office in California and has plans to open another office in Miami in the near future.
According to the statement, the partnership with Pendry Cannon will allow ArawakX to cast a wider net for investors who would come to the website to find businesses to fund.
“Our mission at Pendry Cannon is to connect parts of the global financial ecosystem that currently don’t talk,” the statement noted.
“It’s remarkable in 2021, how disconnected global capital markets continue to be. Our Cannon Network is an innovative membership network designed to build real cross-border and cross-capital-ecosystem executive and investor relationships. This partnership with ArawakX expands our network into the Caribbean.
“Our investor, venture and publishing networks are always on the hunt for great companies to invest in. Partnering with ArawakX allows us to uncover new investment opportunities for our network from a region where we currently have little penetration.
“ArawakX is the also the first exchange platform in the world to allow transactions in a Central Bank digital currency (CBDC), the Bahamian Sand Dollar, which is #1 in the world, as ranked by the PwC CBDC Global CBDC Index.
“One of the things we’re known for at Pendry Cannon is our high-value, in-person networking events connecting dealmakers across capital ecosystems.”
The statement explains that The Bahamas features prominently in Pendry Cannon’s 2022 strategy.
ArawakX explains that its platform allows direct investment in equities, debt securities and revenue share opportunities. In addition, it gives investors access to properly vetted US and Caribbean startups across all industries.
According to the statement, ArawakX’s Chief Executive Officer D’Arcy Rahming helped to pioneer electronic trading systems with Reuters America on its Globex project and was the first chief operations officer of the Bahamas International Securities Exchange (BISX).
“Rahming has over twenty years of experience as a leading management consultant and has assembled an extensive team of veteran entrepreneurs and analysts to vet the companies listing on their platform,” the statement noted.
“This quality-over-quantity approach to listings is one of the things that attracted Pendry Cannon to ArawakX.”
The statement explained that Pendry Cannon has built digital platforms and communities that reach more than six million individual retail investors.