Bring on the competition, says founder of neobank Xinja, as second equity crowdfunding campaign smashes $500,000 in nine hours

Australian neobank Xinja has kicked off its second equity crowdfunding campaign, smashing its minimum subscription of $500,000 within just nine hours. Xinja’s first crowdfunding campaign in January last year — also the first campaign in Australia — raised $500,000 in 18 hours, and went on to raise a total of $2.4 million. Since then, the neobank has launched its prepaid … Read more

Rejected by the banks: SMEs turn to equity crowdfunding after failing to secure business loans

Despite multi-million dollar revenues and massive demand for their product, Jonathan Byrt and Jesse Leeworthy had been refused a business loan by every bank in Australia. Lenders from all of the big four and even most of the smaller banks took one look at the young company’s lack of securities and shook their heads, leaving … Read more

StartupSmart explainer: What’s the deal with equity crowdfunding, and should I do it?

Last week, the Australian government passed new legislation extending equity crowdfunding to private businesses and therefore considerably more startups. But what has actually changed, and should startups be taking advantage? Equity crowdfunding allows investors to pledge relatively small amounts of investment into a company in exchange for equity in the business. Initial equity crowdfunding legislation passed in March … Read more

‘Huge advantage’: Senate extends equity crowdfunding legislation

Small businesses across the country can fast-track fundraising after the Senate extended equity crowdfunding to proprietary companies. The passing of the Corporations Amendment (Crowd-sourced funding for proprietary companies) Bill on Wednesday builds on the government’s 2017 equity crowdfunding legislation, allowing businesses to do this without converting to unlisted public company status. Christophe Hoppe is excited … Read more

Brutal honesty and collaboration: Life after an equity crowdfund raise

Manrags co-founder Michael Elias has spent the past week preparing to welcome 177 investors on board his business. The Melbourne-based underwear subscription business, which Elias founded with his wife Tina, successfully raised $363,000 two weeks ago through an equity crowdfunding campaign. The raise elevates Manrags into a small cohort of businesses that have successfully closed … Read more

Meet Manrags, the startup that has seen 100% revenue growth by taking silly socks seriously

It started with zany socks in the office, but now subscription-for-essentials startup Manrags is reporting 100% year-on-year revenue growth and inviting its dedicated community to invest through its Equitise equity crowdfunding campaign. Manrags was founded two-and-a-half years ago by husband and wife team Michael and Tina Elias, who styled the service as a community-led essentials club. Subscribers … Read more

Co-create : how your business will profit from innovative and strategic collaboration (book)

Authors: David Nour; illustrations by Lin Wilson What if your customers had a vested interest in guiding your company toward greater success? What if your employees had a personal as well as professional commitment to elevating your organization? Imagine how different your results would be if investors, vendors, and even analysts treasured the relationship they … Read more

‘Tears running down my face’: farmers turn to crowdfunding for support

Over the past two weeks dairy farmer Jason Maloney raised $266,000 to save his business – then his accountants delivered bad news. The farmer launched a Gofundme crowdfunding campaign for his property at Jamberoo, NSW, asking for support from his community “with tears running down my face”. Maloney says he reached the point where his feeding creditors … Read more

A tech startup disrupting Australia’s building industry has launched an equity crowdfunding raise

PT Blink, which aims to disrupt the $356 billion Australian construction industry, has launched an equity crowdfunding campaign.   The company’s technology claims to be able to put up a multi-storey building in up to half the normal time.   The $2 million raise is via OnMarket, the Australian equity crowdfunding platform. PT Blink Limited, a … Read more