Tropical Gyros close to funding goal; ArawakX set to launch new company

Tropical Gyros has reached 88 percent of its minimum raise amount on the crowdfunding platform ArawakX, which is getting set to launch a new company for investors to sink their money into, ArawakX said in a statement.

Tropical Gyros has a little more than one month to meet its minimum $320,000 raise, though the company is shooting for $850,000.

Meanwhile, ArawakX is set to bring to market on August 3, one of three medical companies it has in its pipeline.

While the Securities Commission of The Bahamas (SCB) forbids ArawakX to name the company before the day of the funding launch, ArawakX Chief 

Technology Officer D’Arcy Rahming Jr. said in the statement that the company people will soon have the chance to invest in is “at the forefront of one of the most important health issues facing the region”.

“It is one of three innovative medical companies that will be featured in the next few months,” said Rahming.

“We are seeing increased interest in medical technology that will position The Bahamas as a medical hub for alternative treatment methods.”

According to the statement, the companies are comprised of both local and foreign components and have been fully vetted. All of the soon-to-be-launched companies have the possibility of expanding their services internationally.

So far, one company out of four listed thus far has been funded through the ArawakX platform. Tropical Gyros, which is close to meeting its goal, is hoping to have similar success.

“In 41 days, we have seen over $280,000 in pledges come in from over 504 investors,” said Rahming. “Once these pledges are converted to payments the company will be very close to its $320,000 success. Through the marketing data we have collected, investors come from all walks of life and from many islands. The amounts vary from the minimum $36 to over $50,000. The hunger for investment across the land is very real.”

Rahming added: “The internet changed the information deficit between all classes of people regardless of personal wealth. By allowing all investors to have access to all public information at the same time, the internet has created the opportunity for all people to have access to ownership in the new economy.”  

 He said ArawakX has removed the barrier of the expense to raise funding through traditional sources.

“At a time when there is controversy with the fees of the financial institutions, ArawakX is able to offer investment with no account opening or administrative fees,” said Rahming.

“This provides relief to many and allows for individuals to stretch their investment dollars further.”

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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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