Birchal
Birchal is an Australian equity crowdfunding platform which is the market leader for retail investors, capturing A$94 million of the A$146.6 million raised in the Australian retail equity crowdfunding market over 2018 to 2021.[1]
Type | Private |
---|---|
Industry | Equity crowdfunding |
Founded | 2017 |
Headquarters | , Australia |
Key people |
|
Website | birchal |
Birchal is licensed by the Australian Securities and Investments Commission to facilitate offers of equity in eligible unlisted public or private companies to both retail and wholesale investors under the crowd-sourced funding regime of the Corporations Act, which was first introduced in 2017.[2] It was part of the first batch of seven such intermediaries issued a license in early January 2018.[3]
Birchal offered its own shares on its platform in April 2022, reaching the maximum funding target of A$3 million in slightly over an hour, with almost 600 investors participating.[4]
History
Birchal was founded in 2017 and evolved as a sister platform to Pozible, a rewards-based crowdfunding platform, after the founders saw an opportunity to apply their local experience and target Pozible's existing user base in the new regulatory environment that permitted equity crowdfunding in Australia.[5]
References
- "How Birchal became the dominant retail equity funding platform". afr.com. Australian Financial Review. 23 March 2022.
- "Regulatory resources > Crowd-sourced funding". asic.gov.au. Australian Securities and Investments Commission.
- "Australian companies take up crowdfunding opportunity". treasury.gov.au. Australian Treasury. 11 January 2018.
- "Birchal hits $3 million crowdfunding maximum goal in just over an hour". www.businessnewsaustralia.com. Business News Australia. 13 April 2022.
- Kominers, Scott Duke; Nichifor, Alexandru (20 September 2021). "Birchal: Equity Crowdfunding in Australia". Case 822-034. Harvard Business School.
Further reading
- Kominers, Scott Duke; Nichifor, Alexandru (20 September 2021). "Birchal: Equity Crowdfunding in Australia". Case 822-034. Harvard Business School.