Ooooby raises $200k

Ooooby raises $200k, NZ’s first crowdfunded impact investment

This morning Ooooby, and their crowd, have shown equity crowdfunding can be about more than financial returns when the social enterprise hit their minimum target of $200,000.

“Ooooby’s main purpose is to help rebuild local food economies. This has lead to an unusual share offering where potential dividends are invested back local food systems or projects,” PledgeMe Equity Champion Will Stewart said today.

“The fact they met their minimum goal of $200,000 in just over a week shows that social enterprises can seek impact investment through alternative funding sources.

“Ooooby isn’t a pre-revenue startup, they’ve been building this business for several years and chose equity crowdfunding because it aligns to their vision, they see it as the best fit with their growth plans.

“PledgeMe is stoked to be the home for social enterprises looking to connect to their crowd so they can bring a positive impact to their area.”

Mr Stewart said it was interesting to see that Ooooby’s funding has come not only from engaged individuals and customers, but also from trusts and other organisations looking to make calculated impact investments.

“It’s been impressive to see the support Ooooby has seen from trusts and organisations who have funds for investment aimed to return value in a range of ways.

“This has been complemented by strong support from engaged customers and professional networks who, until now, have watched Ooooby grow while cheerleading from the sidelines. Now they’re part of the team.

“With more than two weeks remaining on this offer, PledgeMe is excited to see where the Ooooby ends up.”

Ooooby’s campaign will run until it reaches its maximum funding goal of $800,000 or 29 September.

The campaign is live at pldg.me/ooooby

Ooooby’s campaign so far

Launched: 1 September

Minimum goal: $200,000

Maximum: $800,000

Investors so far: 77

Amount pledged so far: $202,215

Closes 29 September

Ooooby at a glance

• Ooooby stands for “Out Of Our Own Back Yards”

• Founded in 2010

• 70,000 boxes delivered to 5,000 customers

• Operational hubs in three countries (NZ, Australia, USA)

• Looking to raise between $200,000–$800,000 or 2.4–9.1% of the company

• Minimum investment is $500

ENDS

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