AltFi News last week reported that New Zealand based Snowball Effect had received its equity crowdfunding license from the Financial Markets Authority – but the platform was not alone in that feat. PledgeMe, initially a rewards based crowdfunding site, has now also received a license – enabling Kiwi companies to raise up to $2 million through the platform in any twelve month period under the country’s Financial Conduct Act.
Now offering both rewards and equity crowdfunding, the official launch of the platform is scheduled for August 15th, later this month. PledgeMe stated that it already has a queue of companies interested in raising funds via the site – and has therefore released a number of listing requirements.
These requirements include a statement indicating what growth funding will be used for, the company’s current financials and forecasts, a draft business plan, valuation and explanation of method, an issuer agreement so PledgeMe can complete the necessary back checks and last but not least, minimum and maximum funding goals.
The company currently holds over 40,000 users and has raised more than $2.5 million across 640 projects via its rewards based operations. The platform projects that the first investors to use PledgeMe’s equity services will be the friends and families of the entrepreneurs, but that this is set to change soon. You can stay updated by following PledgeMe’s daily statistical updates.