Birchal raises $2 million in 29 hours through crowdfunding

A demonstrations of the power of equity crowdfunding (CSF), market leader Birchal is a testimonial for its own platform with more than 800 investors pouring $2 million into the company’s own raise in just 29 hours.

While it doesn’t beat the 63 minutes it took Birchal to raise $3 million in 2022, it’s still the largest round this financial year and the quickest. It’s the third time the CSF platform has tapped its own audience for support, having also raised $2.39 million from more than 1100 investors 12 months ago.

Birchal has now raised a combined total of $7.39m via CSF and counts Dom Pym, who’s backed Birchal from the outset via his family office Euphemia, among its cornerstone investors.

The record for the fastest raise remains  Zero Co’s astonishing 2021 raise, which took just 47 minutes to reach that $3 million mark on its way to maxing out at $5m in just six hours.

Birchal cofounder and CEO Matt Vitale said his latest raise was an “extraordinary milestone” for both the company and the sector.

“The speed and scale of this raise reflect the incredible community we’ve built around Birchal, and the belief our investors have in our mission to empower everyday Australians to invest in visionary businesses,” he said.

“More importantly, it’s a signal that the markets are reopening. It’s been a challenging few years for raising capital, but confidence is returning, and Birchal’s result here is a further signal of brighter conditions ahead.”

Since crowdfunding was legalised in Australia in 2017 Birchal has hosted more than 300 companies to successfully raise more than $218 million.

Vitale said the CSF platform’s ambition is to scale its funding volume to $500 million and beyond, using the new funds to develop that market.

“We’re proving that equity crowdfunding can be transformative for both founders and investors,” he said.

“This record-breaking raise underlines the demand for accessible, transparent, and community-driven investment opportunities. It’s an exciting time for the industry and for Birchal.”

The company recently launched the Birchal First angel investment syndicate, backed by a $300,000 LaunchVic grant, with a focus on hardware startups as they raise on the platform, backing three startups in its first three months.

NOW READ: Birchal’s new LaunchVic-backed investment syndicate has helped raise $1.9 million for hardware startups in 90 days