Business

ArawakX to list third investable company

ArawakX will list its third investable business next Monday, the company announced in a statement following its first Investor Ecosystem Virtual Conference, where an exchange expert called the crowdfunding site a “new engine of growth”.

According to ArawakX, the next company to be listed will be comprised of female founders.

To date, the crowdfunding site has listed two companies, Groove and Pinnacle Franchise Brands. People have already begun investing in those companies.

ArawakX’s first Investor Ecosystem Virtual Conference hosted 100 guests last Thursday at Baha Mar, due to COVID-19 restrictions, while “thousands” viewed the seminar online, the statement revealed.

Exchange expert and author of “Capital Market Revolution” Patrick Young, who was the keynote speaker, commended ArawakX for the work it has done in ensuring ordinary Bahamians are able to invest their money at levels that are not restricted to only institutional or seasoned investors.

“ArawakX is doing amazing work in the region, particularly in regards to ensuring that there is a level playing field and all are financially included,” said Young. “It is incredible that they have already signed up almost two percent of the population after launching only six weeks ago.

“And because the ArawakX technology allows for individual investment accounts, they are undoubtedly on the path to success. Even some of the major crowdfunding platforms in the UK do not have that level of sophistication.”

The conference theme was “How to Grow the Economy Multiple Times”, and ArawakX’s Chief Technology Officer D’Arcy Rahming Jr. said Bahamians know now that they can “directly participate in the growth of the economy”.

Young said ArawakX is attractive because users can “self-direct” their investments through their personal online accounts on the exchange.

Rahming Jr., who spoke at the event, said the exchange will reveal to people that The Bahamas is a business-friendly environment with companies that have big growth potential.

“The event was designed as a networking event to introduce people to the fact that the fate of the economy is in our hands,” he said.

“We have the authority to add value through capital raises and professional services to startups both local and international that are domiciled here.”

Other speakers included Minister of State for the Public Service Pia Glover-Rolle; Executive Director of the Access Accelerator Davinia Bain; ArawakX Equities Coordinator Bria Deveaux and ArawakX Chief Executive Officer (CEO) D’Arcy Rahming Sr.

CEO of Groove Marcian Cash also presented his product at the conference, doing a demonstration of his platform for the audience. 

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Chester Robards

Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian. Education: Florida International University, BS in Journalism

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