Dubai-based equity crowdfunding startup, Eureeca, announced that it managed to raise its targeted funding of $400,000 in no more than six hours of being online.

The raise came during Eureeca’s second self-funding campaign, which is part of an ongoing series that aims at raising $5 million from institutional investors across the globe.

“Having received significant interest from both our subscribers, the crowd and institutional investors, we knew that we would be allocating a portion of our Series A round to our followers and fans who have been firmly behind our growth journey since our inception in 2013,” said Sam Quawasmi, Co-CEO and Co-founder of Eureeca.

“The speed that we were able to reach our funding target is testimony to the consensus that the Equity Crowdfunding model will be more mainstream in the years to come and strengthens Eureeca’s role as the pioneer in connecting the next generation of investors and entrepreneurs across borders,” he added.

With over 14,500 active investors from 42 countries already investing in Eureeca, the new funding round attracted 71 new investors from 15 countries. Including Canada, Denmark, Holland, Malaysia, Saudi Arabia, UK and UAE, setting a new record in reaching the targeted fund in just six hours.

Eureeca’s previous self-funding campaign reached $400,000 in 12 days of being online.

With four licenses to operate in Dubai, London, Kuala Lumpur and Holland, Eureeca provides opportunities to potential investors ranging from casual and angel investors to institutional firms.

The capital raised from the campaign will enable Eureeca to entrench its presence in new markets, the company said in a press release.