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

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news