Birchal publishes update on crowdfunding in Australia
Birchal, the top investment crowdfunding platform in Australia, has published a report updating on progress being made in Australia regarding “crowd sourced funding” (CSF) as it is called in Australia.
According to Birchal, since the commencement of Australia’s CSF industry in 2018, over 80 Australian SMEs have collectively raised over $53 million by issuing securities online under the ecosystem. The report states that there are now over 44 thousand investors that have participated in CSF offers, and this number is growing even in the midst of the ongoing COVID-19 pandemic.
The report notes that Australia was “late to the party” among its global peers in establishing a retail equity crowdfunding regime. Even though Australia may have been behind jurisdictions like the UK, the country claims that it is already leading the Asia-Pacific region in terms of funds raised and deals completed.
The top platforms in Australia providing early-stage funding include Birchal, Equitise, and OnMarket. Birchal is in the lead having hosted 29 offerings or 64% of successful issuers. Birchal reports it raised 70% of all funding at $16.7 million.
To round out the other platforms:
- Equitise – 9 deals – $3.6 million
- OnMarket – 5 deals – $2.4 million
- All others – 2 deals – $0.9 million
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