UPDATE: New Zealand Startup SellShed Hits $250,000 Crowdfunding Target in Under Four Weeks

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SellShed, a New Zealand-based social marketplace app, just hit its $250,000 crowdfunding target in less than four weeks, according to the company’s press release. Currently, 43 investors have pledged $377,600, with two days remaining in the campaign and a maximum possible investment of $1,000,000. Investment opportunities went live on March 9, and will close on April 9.

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The free mobile app, which is crowdfunding on Kiwi platform PledgeMe, matches buyers and sellers in their local communities for online trading. Since launching in October 2014, the app has had over 13,000 users join its community, as Crowdfund Insider noted in a recent article.

SellShed CEO Peter Howell said,

It’s a rare opportunity to get involved at this early stage, and one that Kiwis have obviously seen the benefits of. We are now on track to start expanding the company and demonstrating the innovative ways this technology can be used.

sellshed-foundersInvestors in the campaign include a San Francisco technology company that assists New Zealand startups with breaking into the U.S. market, as well as local business owners in the SellShed headquarters of Mt Maunganui in Tauranga.

Here’s how SellShed works, according to the company’s PledgeMe campaign:

The platform allows local classified trading and highlights special offers from online traders. SellShed uses strong viral new-zealand-flagsystems (within Facebook) for growth, and uses push notifications to alert users to deals they’re looking for within their
geolocation to ensure locally relevant advertising.

 

Funds raised through the PledgeMe campaign will be used to market and further develop the platform.

 


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