Crowdfunding in Australia – the first 4 months of equity crowdfunding
Equity crowdfunding started in Australia in January this year for public unlisted companies. It is early days but we are pleased to report that in this short period there have been two significant successful raises that a worthy of global note.
One of the first campaigns off the block was the Xinja, Australia’s first 100% digital bank or ‘neobank’ which successfully raised $2,419,000 through the crowdfunding platform Equitise.
At the end of April this early record raise was topped by DC Power Co. which raised $2,454,700 with OnMarket. What was interesting about this raise is that it attracted a whopping 17,574 investors making it the world’s largest equity-crowdfunding offer by number of investors.
The World’s Largest Equity Campaign by Number of Investors It is clearly far too early in the piece to predict how we will track for the first 12 months. It is anticipated that the Australian crowdfunding market will open up further later this year with the opening up of the market to proprietary companies.
Currently only around 97% of companies in Australia are unlisted public companies which qualify for the equity-crowdfunding legislation as it stands today.
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