OnMarket celebrates significant milestone: 100 transactions in 1,000 days
Digital investing platform OnMarket BookBuilds has recently completed their 100th transaction. OnMarket launched its B2C platform in October 2015, approximately 1,000 days ago. OnMarket, which is now approaching 50,000 members, provides retail investors with access to over one third of all IPOs on the ASX. OnMarket also offers equity crowdfunding after being granted an equity crowdfunding licence by ASIC in January this year, enabling its members access to innovative early stage and growth stage companies. OnMarket has raised over $65.7 million across the 100 transactions it has successfully completed.
OnMarket CEO Ben Bucknell stated “Never before have Australians had access to investing into early stage companies and IPO companies like they have now. Every 10 days for the past 1,000 days OnMarket has helped an Australian company build a business by providing the equity funding they need; created new jobs for Australians in growth industries; on-boarded 450 new OnMarket members; processed 320 individual applications for shares; and raised $617,000 from our investors.”
Eighty of the 100 deals that have been completed by OnMarket have been IPOs. The average 6 month investment return of the IPOs that have been available via OnMarket over the past 3 years is 20.6%. In terms of the best performing IPO stock, the highest 6 month return of all eighty IPOs that OnMarket has offered has been Titomic Limited [ASX: TTT], with a return of 563%. The average IPO investment size from OnMarket members has been $6,783.
OnMarket CEO Ben Bucknell commented further, “When we launched OnMarket we wanted to bring Australian retail investors greater access to new and exciting investment opportunities. In the 3 years since launch we have offered investors more IPOs than any other company in Australia. This has been made possible by the 100 companies and 21 brokers who have partnered with us, enabling retail investors, who are becoming more and more self-directed, access to so many more investment opportunities.”
The new crowd-sourced funding legislation allows unlisted public companies the opportunity to raise up to $5 million per year from the crowd. OnMarket has become the leading equity crowdfunding platform in Australia, successfully completing four equity crowdfunding deals in the short time since receiving an equity crowdfunding intermediary licence from ASIC, including completing the largest ever equity crowdfunding offer by number of investors, helping DC Power Co. raise $2.18 million from close to 15,000 investors in April 2018.
You can check out OnMarket’s latest offerings here.
