New Zealand-based crowdfunding platform PledgeMe recently completed its latest self-running equity crowdfunding round. The campaign successfully secured its initial $500,000 and closed at a total of $633,819 from 270 investors.
As previously reported, PledgeMe was launched in 2012 and claims to be the first project-based crowdfunding platform in New Zealand. The funding portal has helped 1,200 campaigns fund successfully, with more than $27 million pledged through the platform. Just four years ago, PledgeMe became the first equal licensed equity crowdfunding platform in New Zealand after the legislation changed to allow raising investment online without a public prospectus. At the campaign’s debut, PledgeMe co-founder, Anna Guenther, stated:
“In the last twelve months, we’ve had almost $12 million 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.”
PledgeMe recently reported it has nearly 200 shareholders prior to this latest funding round. 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. The equity crowdfunding platform also revealed it 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.
Funds from the latest crowdfunding round will be used for PledgeMe to launch in Australia, expand in New Zealand, and fund the development of new ways to make crowdfunding more accessible.
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