OnMarket closes world’s most popular equity crowdfunding offer
Equity crowdfunding platform OnMarket has successfully closed the world’s most popular equity crowdfunding offer.
Solar energy retailer DC Power Co. has crowdfunded close to $2.5mil from over 15,000 investors. DC Power Co. is “Australia’s first solar-focused energy retailer” which offers to optimise household solar systems to use less energy and earn more money.
Equity crowdfunding is the new way for everyday investors, mums and dads, and the millennial generation to invest in early-stage and growth-stage businesses. Where traditionally, this capital raising space was dominated by wealthy individuals, venture capitalists and angel investors, now everyone is able to handpick a company, invest and gain a stake.
OnMarket Managing Director Rosie Kennedy said “Equity crowdfunding provides broader access to investment markets and brings entrepreneurs and investors together for the first time. Australia’s $15bil retail electricity market is undergoing significant change with the increasing popularity and accessibility of renewable sources, OnMarket has been excited to bring this equity crowdfunding opportunity to all Australians.
“DC Power Co. is the world’s biggest equity crowdfunding deal by number of investors. In an amazing display of how equity crowdfunding works, over 15,000 Australians have invested and become shareholders in DC Power Co.
We anticipate significant ongoing interest in this form of capital raising going forward, from both companies looking for capital, and investors looking for access to innovative, disruptive and growing Australian companies.”
DC Power Co. was founded six months ago by social entrepreneur Nic Frances Gilley, Flexicar founder Monique Conheady, investment banker Emma Jenkin and solar expert Nick Brass. DC Power Co. are hoping to tap into the almost 2 million solar households in Australia and a potential 6 million by 2050.
DC Power Co. co-founder Nic Frances Gilley commented, “We see renewable energy as the way of the future, both as a business model and as an environmentally responsive solution to current outdated energy business models.
“The beauty of accessing the crowd is that our new investors will now become our endorsers, our influencers and our advocates.”
- OnMarket has completed the world’s biggest equity crowdfunding by number of investors
- New legislation enabled by the Crowd-sourced Funding Act 2017, allows companies with less than $25mil in gross assets to raise up to $5mil a year
- Retail investors were able to bid between $50 to $10,000 into DC Power Co.
- OnMarket was granted one of the first equity crowdfunding intermediary licenses in Australia by ASIC in January 2018
- The DC Power Co. equity crowdfunding offer opened on March 15, 2018 and closed on April 15, 2018
- DC Power Co. successfully raised nearly $2.5mil. via the OnMarket platform through equity crowdfunding from over 15,000 investors
- DC Power Co. is the second equity crowdfunding offer completed by OnMarket within the first 3 months of equity crowdfunding launching in Australia. Revvies, a caffeine energy strip maker, successfully closed Australia’s first equity crowdfunding offer, raising over $250,000 in March 2018.