Birchal

Birchal is an Australian equity crowdfunding platform which captured AU$94 million of the AU$146.6 million raised in the Australian retail equity crowdfunding market during 2018 to 2021.[1]

Birchal
TypePrivate
IndustryEquity crowdfunding
Founded2017
Headquarters
Melbourne, Victoria, Australia
Key people
  • Matthew Vitale
    Co-founder and managing director (Australia)
  • Alan Crabbe
    Co-founder and managing director (international)
Websitebirchal.com

Birchal is licensed by the Australian Securities & Investments Commission to facilitate offers of equity in eligible unlisted public or private companies to both retail and wholesale investors under the crowdsourced funding regime of the Corporations Act, which was introduced in 2017.[2] It was part of the first group 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 AU$3 million in slightly over an hour, with almost 600 investors participating.[4]

History

Birchal was founded in 2017 as a sister platform to Pozible, a reward-based crowdfunding platform, by its mutual founders. The firm commenced by targeting Pozible's user base to capitalise on new Australian equity crowdfunding regulations enacted in 2018.[5]

References
  1. "How Birchal became the dominant retail equity funding platform". afr.com. Australian Financial Review. 23 March 2022.
  2. "Regulatory resources > Crowd-sourced funding". asic.gov.au. Australian Securities & Investments Commission.
  3. "Australian companies take up crowdfunding opportunity". treasury.gov.au. Australian Treasury. 11 January 2018. Archived from the original on 18 March 2018.
  4. "Birchal hits $3 million crowdfunding maximum goal in just over an hour". www.businessnewsaustralia.com. Business News. 13 April 2022.
  5. Kominers, Scott Duke; Nichifor, Alexandru (20 September 2021). "Birchal: Equity Crowdfunding in Australia". Case 822-034. Harvard Business School.

Further reading


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.