PledgeMe raises $366k to grow crowdfunding

PledgeMe smashed through its minimum goal of $250,000 to finish its second equity crowdfunding campaign raising a total of $366,840 last night.

"We are extremely happy to be able to grow crowdfunding in New Zealand with the help of our crowd," PledgeMe CEO Anna Guenther said.

"This investment means we’ll be able to support more project and equity campaigns and push for further growth.

"The extra $116,000 means we’re going to be able to hire in-house tech wranglers, investigate crowdlending in New Zealand, and start looking across the ditch and potentially put our thinking forward around their proposed legislation changes around equity crowdfunding.

"It’s exciting that we’re going to be able to help even more Kiwis fund the things they care about."

Ms Guenther said the investment over its minimum goal would allow PledgeMe to grow faster.

"PledgeMe has already seen massive growth since our first equity crowdfunding round late last year.

"PledgeMe has gone from a total of $2.8 million pledged, before we equity crowdfunded, to over $7 million in just seven months.

"We’ve grown our team, grown our revenue, and grown our user base with more and more people aware of crowdfunding as a viable option in New Zealand we’ve secured PledgeMe’s position as the place Kiwis go to fund the things they care about.

"PledgeMe has a detailed plan for how further funding will allow us develop the platform and grow crowdfunding even further.

PledgeMe’s campaign, which is now closed, is online at https://www.pledgeme.co.nz/investments/147-pledgeme-limited

The campaign at a glance

9 shareholders with Founder class shares.

50 investors in the first round.

137 investors in second round.

Over 100 of these are new shareholders.

$Minimum goal of $250,000

Maximum cap of $750,000

In the past six months PledgeMe has

1) Started showing signs of real growth:

More than 50,000 pledges through the platform (projects and equity crowdfunding)

Doubled the amount pledged through the platform. In the 2.5 years from mid-2012 to November 2015, we had $2.8 million pledged through the platform. In the 7 months since then, a further $3.8 million has been pledged through the platform

Optimised the site for mobile so the platform is easy for all Kiwis to access from anywhere anytime.

2) Achieved early-stage validation of the equity crowdfunding platform:

Launched 14 equity campaigns, with 9 successful and 4 that hit their maximum goals, more than any other equity crowdfunding platform in NZ

$2.5 million pledged to successful equity campaigns to date

Yeastie Boys raised half a mil in half an hour

3) Built more than a physical technology, we've created a cultural technology, a supportive community and a great team:

Completed a successful equity crowdfunding campaign through PledgeMe, raising $100,000 in 23 hours

Ran "Pitch Kitchens" throughout the country for each equity crowdfunding campaign, giving the companies we work with collaborative feedback and support from creative, business and subject matter experts

Gown our day-to-day team from 3 to 7 people (1.5 full time to 3.2 full time)

Used its connections to build up a solid pipeline of companies that are interested in crowdfunding through our platform

Created educational guides which we have published, and an educational plan that we will implement over the next 6 months