crowd funding

May
11

Budget 2017: Crowdsourced equity funding extended to proprietary companies

All private companies will be able to raise up to $10,000 from a retail investor after the government moved to extend crowdsourced funding in Tuesday’s budget, although it’s unclear when the changes will come into force. The original crowdsourced funding bill, which passed Parliament in March and is still five months from coming into effect, restricted access to retail investors to unlisted public companies – a structure not used by 99 per cent of Australian businesses. Under 13 pages of draft legislation released with the budget papers, all companies with annual turnover or gross assets of up to $25 million will be able to advertise their business plans on licensed […]

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May
10

Budget 2017: What it means for fintech

By Elizabeth Barry, finder.com.au How did Australia’s financial innovation market fare in the Federal Budget? Following last year’s budget, which had a strong focus on innovation and fintech, Australia’s fintech community has been waiting to see what the government will announce in the 2017-18 budget. Following the announcement of measures to support the fintech sector, Australian Fintech CEO Danielle Szetho has also welcomed this year’s budget: “[These initiatives] are a huge step forward when it comes to growing a globally competitive Australian fintech industry that will also deliver greater choice and improved financial outcomes for consumers.” “We’re also proud that many of these initiatives have come about through the strong […]

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May
04

Three-year-old Batman’s cancer fight inspires crowdfunding donations from across country

As three-year-old Eamon Obst puts on his favourite superhero cloak to fight cancer, a village of online supporters is rallying behind him by donating money. In one week, $23,000 has been raised through a crowdfunding appeal on the GoFundMe website. For Adelaide parents Justin and Kathy Obst, the donations will ease the financial pressure to return to work as they juggle Eamon’s hospital treatment with caring for his 12-week-old baby sister Isla. Family friend and campaign organiser Michael Arnold, of Loxton in South Australia, said the response had been overwhelming. “It was unreal. I think people put themselves in Justin and Kathy’s situation,” he said. “A lot of our friends […]

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May
03

Venture capital 3.0: the initial coin offering explained

The venture capital community thrives on disruption. So what happens when the tables are turned and the medicine bottle has their name on it? There’s a new kid riding onto the financing block – riding roughshod across an unregulated landscape. Welcome to the world of the initial coin offering (ICO). An ICO is a hybrid: part crowdfunding, part software token, part speculation. In simple terms, an ICO is often described, somewhat inaccurately, as an IPO for cryptocurrencies. How it works – A tech start-up team creates an ICO using a blockchain-enabled software platform, usually open sourced. – The platform is powered by cryptography-based software tokens – called cryptocurrencies. – The […]

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Apr
06

Crowdfunder signs-off on world-first ag land acquisition deal

THE crowd-funder which made headlines last year when it tried to mount a bid to buy S.Kidman & Co during the pastoral giant’s torturous path to sale has made its first rural property purchase – albeit on a much more modest scale. Crowd-funder DomaCom has finalised its first foray into agricultural assets with a ground-breaking deal that gives 90 smaller retail investors a stake in a high performance grazing property in Victoria’s prime Western Districts. The 150-hectare property, Doyles, just outside Casterton near the South Australian border, is in the undulating heartland of the prime beef and sheep region. Before entering a contract to purchase the property, the fund was […]

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Mar
27

Crowdfunding law a boon for fintech sector

Incoming legislative changes to equity crowdfunding will help further “democratise investing” by allowing retail investors to participate in funding rounds for local fintech start-ups, according to Equitise. The Corporations Amendment (Crowd-Sourced Funding) Bill 2016 was passed in the Senate last week in a move that will open up early-stage capital markets for retail investors, as well as helping Australia’s regulatory environment become more internationally competitive. The bill when enacted means fintech start-ups can raise funds by issuing securities to a large pool of investors in return for financial contributions through an online platform. Speaking to financialobserver, Equitise co-founder Jonny Wilkinson said the announcement was “quite game-changing” because traditional retail investors […]

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Mar
20

Equity crowdfunding bill passed, but proprietary companies still excluded

Retail investors will from September be able to buy up to $10,000 of equity in their favourite business ideas, after crowd-sourced funding legislation passed the Senate. The legislation will allow unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. A 48-hour cooling off period had applied to the legislation which passed the House of Representatives in February, however the Labor Opposition successfully amended this to five days, with support […]

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Mar
15

DomaCom signs off on new crowdfunding deal

DomaCom has finalised its first venture into agricultural assets with a deal that gives 90 retail investors a stake in a property in Victoria’s prime Western District pastoral land. The 150-hectare property, ‘Doyles’, outside Casterton near the South Australian border, is in the heart of prime beef and sheep region. Prior to entering into a contract to purchase the property, the fund was successful in securing a strong local operator as the tenant. The tenant will use the property to run beef cattle. “The identification of good operators to work with in the leasing of the property was key to the transaction. We are striving to deliver a packaged opportunity […]

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