Adviser Ratings completes second successful crowdfunding raise
Adviser Ratings – Australia’s only independent financial advice ratings and data agency – has announced that it has completed its second successful crowdfunding capital raise.
This is the second crowdfunding initiative in a year for Adviser Ratings, with the business having raised $1.1 million in June 2019. Approximately 25% of existing shareholders took part in the second raise, many of whom are financial advisers.
“Financial advice and superannuation are key to all Australians as a result of the Covid-19 pandemic, and we intend on further developing our platform to continue to help consumers find the financial advice they need,” Adviser Ratings Founder and Managing Director, Angus Woods, said. “In the first half of 2020 we generated a record number of leads for financial advisers and we expect this to continue as Australians search for experts to help them navigate the disrupted economy.”
Adviser Ratings will use the raised funds to accelerate the development of its platform, including its data insights business and associated industry integrations. It will also allow the business to step up its growth plans, with further announcements to be made shortly.
“The past three months has seen technology integration and technology use accelerate, and Adviser Ratings is perfectly positioned to capitalise on that development,” Adviser Ratings CEO, Mark Hoven, said.
“We are focused on providing the platform that builds relationships between advisers and the public, and that also allows our data to deliver a birds-eye view of the industry to help both advisers and businesses such as super funds, platforms, and fund managers to see around corners and better position their services.
“By better understanding where the industry is going, we can help everyone build the advice industry of the future.”
The capital raise, again arranged through Birchal Financial Services, is part of the government initiative that allows retail investors access to unlisted investment opportunities previously only available to high net worth or institutional investors.