Snowball Effect, the top crowdfunding platform operating in New Zealand with about 70% of the market, recently distributed an update on platform progress. A highly curated marketplace, Snowball Effect was the first crowdfunding platform to launch in New Zealand back in 2014.
According to the platform, 2019 was the strongest year in Snowball Effect’s relatively brief history. During the year, Snowball Effect saw:
- $20 million invested into New Zealand businesses
- The platforms largest investment crowdfunding round to date at $5 million
- A 33% growth in their wholesale investor network
- A 17% growth in Snowball Effect users.
Last November, in an interview by NZEntrepreneur with Snowball Effect CEO and co-founder Simeon Burnett, he explained that was happy with the platform growth
According to their website, since inception, Snowball Effect has funded around 60 companies at various stages of growth raising over $60 million from more than 6000 individual investments.
Snowball Effect provides funding solutions for startup, growth stage as well as initial public offerings where smaller investors can gain access into offerings once only available to institutional investors.