Success: Aussie Platform Gather Online Overfunds on Seedrs

Gather Online, an Australia-based gather and share platform, has successfully secured its initial £245,000 funding target on equity crowdfunding platform, Seedrs. The website launched the initiative recently to raise the funds for expansion. As previously reported, Gather Online was launched in early 2015 and describes as a social discovery platform that allows users to meet like-minded people through time-limited conversations on topics that interest them. The platform shared:

On Gather, because you are in a conversation group on a topic that interests you, and there is an urgency created by the time limit, we see a lot of interaction and direct engagement with others. Thus people are able to establish meaningful social or business connections, or form romantic relationships with others where they genuinely have something in common.”

After the Seedrs campaign overfunded, the Gather Online shared the exciting news on Twitter:

Along with the Seedrs campaign, Gather Online is planning to raise funds on New Zealand’s crowdfunding platform Equitise to access both Australian and New Zealand investors. The Gather Online team is now making preparations to launch the second campaign. It was recently revealed:

Once the Equitise campaign goes live, Seedrs will reflect the funds raised on Equitise in the Seedrs campaign so that investors are aware of the full size of the round. This will be reflected under the label “Equitise Placement”. The terms of the Equitise round are substantively the same as the Seedrs round. As the Equitise raise will be in New Zealand Dollars, Seedrs has applied a GBP:NZ$ exchange rate of 1.704. This means that any fluctuation in exchange rate between the launch of the campaign and when the shares are issued will not affect the pre-money valuation being offered to investors via Seedrs.”

The Seedrs campaign is currently set to close later this spring.

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