VentureCrowd has pulled in nearly $1.5m in crowdfunding round

Australia-based equity crowdfunding platform VentureCrowd has raised just under $1.5m in its own crowdfunding campaign, so far.

The company has a fundraising target of $3m for the round which will serve as its Series B. There are 10 days remaining on the sale, which consumers can invest into from as little as $1,000.

VentureCrowd has decided to raise the capital to support the scaling of the business.

The company provides an equity crowdfunding platform to let individuals access investment opportunities such as private companies, property development projects and alternative credit. Once a user makes an investment, they receive ownership and visibility of the investment through the online platform and they can decide when to exit.

Since the platform launched, it has helped to fund 45 deals including in startups, property development and credit across Singapore, the US and Israel, helping to raise $23m, according to the company. There are currently around 9,695 individual investors on the platform.

Last month, online property financing and investing platform LendInvest bagged $39.5m in a Series C debt and equity round.

Australasia’ FinTech sector saw a total of $753m invested across the whole of 2017, up $500m from the previous year, according to data by FinTech Global. The largest proportion of deals went to companies within the payments and remittance space, representing 22.6 per cent. Funding platforms received the fifth largest share.

Copyright © 2018 FinTech Global

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