Crowdfunding still too costly says Sharesight chief
New crowdfunding rules would still put equity raising online out of the reach of investment app Sharesight, says chief Doug Morris. About 80 per cent of the New Zealand company’s tens of thousands of customers (it won’t disclose exact figures) are Australian, with the rest mainly in NZ and Canada. It “crowdfunded” 75 per cent of NZ$2 million ($1.88 million), or roughly $1.5 million, from them earlier in December, cutting out the need to pay for advisers other than a lawyer. “We did a miniature crowdfund amongst our own clients. Most of our clients are investors,” Mr Morris said. “We surveyed the customer base and asked them would you be […]
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