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 www.snowballeffect.co.nz 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.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Bad Day For Rope: Donaghys Job Losses Another Blow To Dunedin

The loss of 30 jobs from Donaghys rope and twine factory is yet another blow to the people and economy of Dunedin, says Dunedin South Labour MP Clare Curran. More>>

ALSO:

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

WWF Report: Solutions In Reach; World Biodiversity Suffers Major Decline

Global wildlife populations have declined by more than half in just 40 years as measured in WWF's Living Planet Report 2014. Wildlife's continued decline highlights the need for sustainable solutions to heal the planet... More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news