Crowdcube NZ has recently seen its first investment reach minimum target. With a second investment building, Crowdcube is looking secure as the 5th platform in the booming New Zealand crowdfunding market.
Crowdcube NZ was founded by Crowdcube UK and Armilliary Private Capital. Collect, its first investment, reached its $200,000 target in just three days. Now on 183% of that target, Collect is aiming for $1 million and with 29 days left, they may well reach it. This the first investment to list through Crowdcube NZ, which joins a small club of platforms in New Zealand that have obtained a permit from the Financial Markets Authority. The platforms capable of offering equity crowdfunding services to Kiwis are Crowdcube NZ, Pledge Me, Snowball Effect, Equitise and My Angel Investment.
This first successful listing comes off the back of news that June was a record breaking month for New Zealand’s equity crowdfunding, with $3.3 million raised through 5 offerings. These included an impressive $2 million offering for Punakaiki Fund on Snowball Effect. The end of June also saw Pledge Me – which has overseen the most successful crowdfunding campaigns in New Zealand to date – announce a second round offering, seeking $250,000. They have currently raised $134,000 of that, with 18 days remaining. CEO Anna Guenther commented:
“We’re looking to grow crowdfunding even further with the help of our crowd”
The market has seen substantial growth since it acquired the blessing of the regulator, as recently as April 2014. AltFi recently reported on the growth in the Australian market, with ThinCats Australia reportedly considering an IPO and Morgan Stanley predicting the market to rise to $22 billion by 2020. These are exciting times in Oceania, and the sector shows no sign of slowing down.