Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Strong demand from Kiwi companies for equity crowdfunding

Strong demand from Kiwi companies for equity crowdfunding

· Snowball Effect open for investor registrations

· Stephen Franks joins Snowball Effect as a Director

Equity crowdfunding provider Snowball Effect, which this week opened for investor registrations, is actively working with 11 New Zealand companies seeking to raise funds in exchange for equity in 2014.

Two of the businesses are start-ups; nine are established companies operating across a number of sectors including retail clothing, entertainment, cloud-based software, food & beverage retail and foodservices. The 11 companies are part of a group of over 100 Kiwi companies who have expressed interest in raising funds through Snowball Effect.

The businesses are working on their investment propositions, with those closest to launching seeking capital of between $100,000 and up to $1 million. Companies will have up to 60 days to raise their funds.

Snowball Effect Director, Simeon Burnett, says they are currently working through the licensing process with the Financial Markets Authority and hope that the first investment opportunities are listed on from mid-May.

“We are very pleased with the level of interest from Kiwi businesses,” says Mr Burnett.

“But we are not surprised. Our market validation programme, conducted alongside one of our partners The Icehouse, highlighted that many SMEs are attracted to the simplicity, low cost and the short time frames involved in raising funds through equity crowdfunding.”

Mr Burnett says investor registration is now open through the Snowball Effect website.

“Registration is simple, free of charge and there is no obligation to invest. Those that are registered will be notified when the first investment opportunities become available,” he says.

“Whether investors are looking to back a Kiwi business or favourite brand, diversify their portfolio, invest in a new asset class, or simply see the opportunities that are available, Snowball Effect will give them access – whatever their budget – to exciting opportunities that were previously only accessible to Venture Capital and Angel Investment groups.”

Snowball Effect has appointed highly experienced, Wellington-based commercial lawyer Stephen Franks as an independent Director. Mr Franks joins the three founding Directors Simeon Burnett, Richard Allen and Francis Reid.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news