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A 620% uptick: Equity crowdfunding in Australia gathers momentum
Bubble Tea Club co-founders Jenny Le and Pam Yip. Source: supplied.
More Australian businesses are raising more money through equity crowdfunding, with investments in the last quarter up a massive 620% compared to the same time last year.
According to a report from crowd-sourced funding (CSF) platform Birchal, funds raised through such campaigns were up 100% for the 2020-21 financial year, compared to the previous 12 months, as crowdfunding becomes a “go-to funding source” for both small businesses and startups.
Over the financial year, 63 successful offers were closed across the major platforms a 40% increase on the previous financial year.