ArawakX is seeing 150 potential investors sign on to its platform per day, representing a 100 percent increase month-on-month. On an average day, ten business founders approach the crowdfunding platform hoping for a shot at raising money to grow their businesses, spokesman and Chief Technology Officer D’Arcy Rahming Jr. said yesterday.

Rahming, who made the comments during an appearance on Guardian Radio talk show Morning Blend Business, is preparing for Monday when crowdfunding will begin for the first two businesses loaded on to the platform. He explained that as the date draws near for Bahamians to begin investing, the investor pool has grown to 2,000 and continues to climb. Meantime, the number of companies hoping to raise funds through crowdfunding remains steady, though Rahming said there are many companies that approach ArawakX that aren’t ready to participate in funding on this level. 

When ask if ArawakX has to turn many companies away, Rahming said, “We have that conversation all the time. We’re business people too… we understand that business as a founder is a journey and sometimes it’s a journey of a lifetime,” said Rahming.

“We’ve taken the approach to educate people, to be truthful with people and maybe we won’t be able to see you now, but maybe in six months time with a different project. Even if your idea is not ready for crowdfunding, maybe another idea that you have in the future will be. Come to us, we will tell you the truth, we will tell you if you’re investable and then we’ll actually show you how to become investable and how to structure your business so it is.”

ArawakX is opening several community investor education centers in an effort to educate Bahamians about investing, crowdfunding and its own platform, free of charge.

On August 23, the founders of the first two companies ready for investment will “ring the bell” at 9 a.m., opening the start of the first regulated crowdfunding round in the country.

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