Subscription socks, online funerals and bike tours: three new Aussie equity crowdfunding pitches
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Three more Aussie equity crowdfunding hopefuls launch this month, seeking millions to develop a subscription sock site, a motorbike tour company and an online funeral planner.
The trio will join three dozen other Aussie equity crowd-funding ventures that have launched since the fund-raising system was opened up for public unlisted companies earlier this year.
Here are the three newbies:
Looking to raise: Between $200,000 and $900,000
Minimum investment: $50
The company: Sydney funeral disruptor Picaluna is an online matching service for funeral suppliers and celebrants. The aim is to provide a more cost-effective search and better matches for families in need of a straightforward way of funeral planning.
The business charges a 35 per cent service fee on the wholesale cost of a funeral planned through the site and charges servicer providers on the platform a 5 per cent fee on the value of their services. It also feeds 10 per cent of profits to charity.
The company opened expressions of interest on the Birchal platform last week as part of a 44-day campaign. Investors can buy in for $50 or more.
Looking to raise: $700,000
Minimum investment: $100
The company: Ever wanted to ride a motorcycle “on the world’s highest road”? Geelong-based Nevermind Adventures runs motorbike tours in the Himalayas, across Nepal, India, Vietnam and Australia.
The business is yet to lock down a valuation but is seeking $700,000 via Birchal and opened expressions of interest to potential investors this week, on a 40-day timeline.
The company wants to use the cash to “Bring Nevermind to new destinations and markets domestically and internationally”.
Looking to raise: TBC
Minimum investment: $250
The company: US startups like Dollar Shave Club and Sock Fancy have shown consumers’ appetites for the subscription box format. Manrags is an Australian play that delivers premium socks and jocks on a regular basis — and even replaces lost socks for free.
Started by a husband and wife team, the business has been going for a couple of years and is embarking on a month-long raise effort.