Birchal, the leading securities crowdfunding platform in Australia (Crowd-sourced Funding in Aussie-speak), says it is on track to completing its most active quarter to date. According to the company, Q4 has seen 25 successful funding rounds and the platform is nearing A$ 200 million in total funding since inception.
Birchal stated that it is planning to raise money for its operations, with the company accepting indications of interest since the end of last month (November 28, 2023).
“Our experience over the last 12 months has reinforced that our platform and our investor community is proving to be a resilient source of capital for our issuer clients, affirming our purpose and mission,” said Matt Vitale, Birchal co-founder and CEO, in a company statement. Vitale said it is only natural to involve their community in raising money for itself.
During 2023, Birchal reports it has captured 70% of the market share even while new providers have entered the market. Birchal has listed 57 issuers during the year – the same number of IPOs listed on the Australian Stock Exchange (ASX) during the year.
Birchal previously completed a funding round in April 2022, achieving the funding goal of $3 million in approximately two hours.
Birchal states that it is optimistic about the growth potential of the Australian investment crowdfunding market. The company points to research published by Professor Andrew Schwartz, who envisions the Australian market rising to $700 million.
Birchal also shared the top funding rounds listed on the platform in 2023:
- Cannaponics raised $5m from 2,771 investors in May 2023
- Medigrowth raised $3.5m from 2,047 investors in August 2023
- Naked Life Spirits raised $3m from 935 investors in July 2023
- Old Young’s raised $2.7m from 855 investors in March 2023
- Philter Brewing raised $2.2m from 1,296 investors in November 2023
