Last week ASIC awarded Equitise their new crowdsource funding license. Here’s a snapshot of what was in the press:
Last week our office was wrapped in a strange atmosphere: we were all very busy and excited as we awaited our new retail equity crowdfunding license. Finally, in the early afternoon of Thursday 11th of January 2018, we received the news from the Australian Securities and Investments Commission (ASIC). We were one of the first online platforms to obtain the license which ushers in a new era for equity crowdfunding by opening investment opportunities to anyone in Australia over the age of 18.
Once the license was received we were able to launch Australia’s first retail equity crowdfund - Xinja - the soon-to-be 100% digital bank. Since its launch last Thursday Xinja has almost raised $1 million from nearly 500 investors. To get up to speed with the changes here is an overview on the media coverage featuring Equitise, our new license and our first retail equity crowdfund, Xinja:
Online crowd-funding platform Equitise was among the first to secure a license through ASIC. Start-up bank Xinja will use the Equitise platform to raise up to $3 million from retail investors. (…) Mr Gilbert and business partner Jonny Wilkinson have spent almost four years fighting to open up retail equity crowd funding in Australia after turning their backs on careers in investment banking.
- The Australian Financial Review – 11 January 2018
After years lobbying with the Government to permit retail equity crowdfunding in Australia, we have finally received the license:
"We have led the charge to change this legislation for the past three and a half years to give all Australian investors the opportunity to invest in early stage companies," Mr Gilbert said.
- Investor Daily – 11 January 2018
The licenses granted by ASIC allow start-ups and small businesses to finally raise money from the general public, or everyday investors, in exchange for a stake in the company.
Equitise co-founder Chris Gilbert said before now, this early stage investment was only available for high net worth investors or venture capitalists. "This groundbreaking change means Australians can now put their money behind what could become the next Atlassian or Canva and support early stage local companies raising up to $5 million." Gilbert says.
- Business News Australia – 11 January 2018
Since last week, our first retail equity crowdfund is now live on our platform. Xinja is building the first Australia 100% digital bank, which is following the European and US success of “neobanks”:
Equitise, a crowdfunding platform that has been waiting for years to provide services to Australian businesses, was the first site to list a securities offer. Xinja, a 100% digital bank or ‘Neobank’ seeks to challenge traditional banks similar to the UK challenger bank ecosystem. (…) Xinia hopes to raise up to A$3 million in the crowdfunding round. Any Australian over the age of 18 may invest from as little as A$250. The offer is also available for wholesale investors in New Zealand.
- Crowdfund Insider- 11 January 2018
With its hard-won license, Equitise has already launched its first offering, for challenger bank Xinja. With the bank looking to raise a minimum of $500,000 through the platform, investors will be able to buy a stake in the company for $250.
- Startup Daily.com – 12 January 2018
The first deal has already kicked off with Chris Gilbert, CEO of crowdfunding site Equitise, telling The New Daily: “We’ve raised $550,000 for neobank Xinja in the first 30 hours of a campaign with 300 investors participating.” Those 300 investors have kicked in between $250 and $10,000 and Mr Gilbert expects to complete the $3 million target in a few weeks.
- The New Daily – 14 January 2018
Australia’s first digital-only “neobank”, Xinja, has become one of the first local companies to attempt to raise cash through newly licensed crowdfunding intermediaries, which were authorised yesterday by the corporate watchdog to issue shares to online investors. Investors will now be able to invest as little as $250 in Xinja, with a minimum target of $500,000, through Equitise, one of the companies that received ASIC backing yesterday.
- The Australian – 12 January 2018
Do you want to be part of this revolution?
Check out our new website to discover our live and coming soon deals or to start your own equity crowdfunding campaign.