Even more record-breaking results in equity crowdfunding
Birchal broke another record this past week in Australian crowd-sourced funding, with the close of Jack Stillman and Ziinkle’s recent CSF campaigns, taking it to 200 successful raises worth over $150 million for Aussie startups on its platform from over 90,000 investments, since launching in 2018.
Perhaps even more remarkable is Birchal’s dominance with 100% market share during Q3 FY23 to date, making it the only Australian equity crowdfunding platform to have closed successful deals this year.
Fremantle apparel brand, Jack Stillman, which tipped Birchal over the 200 mark raised $371k from 173 investors, bringing total results for the quarter to $6.9 million from 3,200 investments across 8 CSF campaigns.
Despite the challenges of wider market conditions, the quarter had remained buoyant with major deals still gaining traction and drawing crowds, according to Birchal Co-founder & CEO Matt Vitale.
“We’re thrilled to hit this milestone and continue to see these great results for companies like Old Young’s, which broke the record for Australia’s biggest alcohol-related crowd-sourced funding raise, and Our Cow which had the most registrations we’d ever seen for a webinar and a raise over $2 million,” he said.
“All other companies that opened Expressions of Interest on our platform also successfully funded this quarter, so it's good news for startups and the sector, to see that investors are still keen to back the right deals.
“It also shows the value of crowd-sourced funding to provide a robust mechanism for businesses to continue to fund and execute on their plans, while facing challenging macroeconomic conditions.”
He said Birchal’s ongoing success was a result of having the most data and experience, which enabled it to respond to current conditions with the right strategies for businesses.
“We were one of the first seven intermediaries issued a licence by ASIC, the only platform to remain active during COVID, and now we’ve amassed significantly more knowledge and insights from the sheer volume of deals we’ve opened and closed on our platform.
“It’s enabled us to continue to provide opportunities to businesses and investors, and now we’ve hit this incredible milestone.
“Today we’re celebrating the 200 successful deals, alongside every founder, co-founder, investor, legal advisor, accountant, board member, startup employee, creative agency team, product developer and campaign team member that supported each of these raises and this remarkable milestone for Australian businesses and crowd-sourced funding.
"It is a privilege and an honour to be part of each one of these success stories."
