An international crowdfunding platform has opened its seventh office, this time in the Asian city-state.

The equity crowdfunding group OurCrowd has opened an office in Singapore, its seventh worldwide, and appointed Denes Ban, an entrepreneur and technology executive, as managing partner for Asia and head of the firm’s Singapore management company.

Earlier this year, OurCrowd struck a partnership with United Overseas Bank and Sassoon Investment Corporation to pursue crowdfunding for start-ups and small and medium-sized enterprises in the region. The group also received a licence from the Monetary Authority of Singapore in August to start operating in the city-state.

“Asia is one of our fastest growing markets and following our launch in Singapore, we will be looking to take OurCrowd further into the ASEAN market,” OurCrowd chief executive Jon Medved said in a statement. “Our business in Asia has grown five times since 2014, both in terms of the number of investors on the platform and investment dollars committed on our platform."

Medved added that Asian funding represents over half of the funding recently invested through OurCrowd's site.

Over the past three years, OurCrowd has invested more than $320 million from its "crowd" of 16,000 accredited investors in its portfolio of 100 companies and five funds, which span sectors including transport, machine learning, cybersecurity, digital health, agricultural technology, big data and robotics.