New Zealand-based crowdfunding platform PledgeMe Limited has launched an equity crowdfunding campaign through its funding portal, with a minimum NZ$500,000 funding target. Launched in 2012, PledgeMe claims it was the first project-based crowdfunding platform in New Zealand. It has helped 1,200 campaigns fund successfully, with over $27 million pledged through the platform. In 2014, PledgeMe notably became the first equal licensed equity crowdfunding platform in New Zealand after the legislation changed to allow raising investment online without a public prospectus.
While sharing more details about the funding round, PledgeMe co-founder, Anna Guenther, stated:
“In the last twelve months, we’ve had almost $12million pledged through the platform. That’s significant growth from the previous years, and shows a trend towards larger equity crowdfunding campaigns like Ocho and Waiapu. Both of those campaigns raised the $2million legal maximum within hours of going out to their crowds.”
So far, the funding round has already secured more than NZ$400,000 from 125 investors. PledgeMe is looking to raise up to $900,000, which represents 11.1% of the company. Shares are priced at $164.50 each with a minimum purchase of one share. Guenther revealed she and her set the price at one share to make the investment accessible.
“If our goal is to make equity crowdfunding equitable, we need to focus not just on the companies and their founders, but also the wider investor community.”
PledgeMe also reported it has nearly 200 shareholders currently. Last financial year, PledgeMe had $767,983 in revenue with a profit of $252,971. Over the last three years, the funding portal has grown over 90% in compounded annual growth. Funds raised in this round will be used to launch in Australia, expand in New Zealand, and fund the development of new ways to make crowdfunding more accessible. The funding round is set to close on September 6th (or when NZ$900,000 is achieved).
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