15 May HashChing Next To Jump On Equity Crowdfunding Boom Via Equitise
The company is looking to raise up to $5 million to fund its unprecedented growth in the fintech space via the online Equitise platform.
Online mortgage marketplace HashChing has issued its first round of shares today through Equitise to gain access to the lucrative capital raising potential of Australia’s equity crowdfunding regime.
Introduced in September last year, the regime sees HashChing at the forefront of a wave of Australian companies looking to unlock new investment opportunities by raising capital through a full retail equity crowdfunding process facilitated by Equitise.
By launching on leading Australian crowdfunding platform Equitise, HashChing is seeking to raise up to A$5 million by the end of June to fund its unprecedented growth in the fintech space. For as little as A$250, interested parties can invest in one of the fastest growing fintech startups in Australia.
Mandeep Sodhi, CEO of HashChing, said the company chose to raise capital via equity crowdfunding to provide an opportunity to the loyal members of the HashChing community to own a part of the company they love, helping build a better financial marketplace.
“We’ve undertaken this capital raise primarily to increase brand awareness, implement new technology to help scale the business, and expand our team’s size and expertise in the areas of technology, customer service and marketing.
“We also thought about how involved our community of both mortgage brokers and customers are with the platform and wanted to provide an opportunity for the HashChing community to officially partner with us and join the movement to automate the home loan journey.”
The new crowdfunding regime enables publicly unlisted companies with less than $25 million in assets and annual revenue to issues shares via platforms like Equitise, with the ability to raise up to $5 million in any 12-month period.
Equitise co-founder Chris Gilbert said the company was looking forward to taking this investment opportunity not only to the general public in Australia, but also HashChing’s quickly expanding client base of over 37,000 borrowers and 700 mortgage brokers.
“HashChing is a fantastic example of a disruptive technology service in the Australian fintech space,” said Mr Gilbert.
“This capital raise will be launching at a topical time with the ongoing Royal Commission. The HashChing platform provides Australians with far greater transparency to the mortgage broking industry via its intuitive and transparent online marketplace.”
Gilbert said HashChing’s success in a short space of time shows how Australians want a new way to access home loans.
“Equitise is very excited to be working with HashChing, which has now settled more than A$800 million worth of home loans through its platform since its launch less than three years ago, with over half a billion in 2017 alone. This traction demonstrates there is a clear demand for this service in the Australian home loan market,” he added.
HashChing converted to a public unlisted company to take advantage of Australia’s crowd-sourced equity markets, advertising for investors while staying independent of larger financial institutions.
Mr Sodhi said: “One of the main reasons we chose equity crowdfunding was because we wanted to stay independent. Unlike many other online mortgage platforms who are backed by a lender, we are and will continue to stand separate from the banks. We want our customers to become shareholders in HashChing and help us deliver the simple and effective end-to-end home loan journey that Australia is currently lacking.
“We have some really exciting products in the pipeline and, through crowdfunding, we will be engaging our new shareholders in design thinking and incorporating their feedback before pushing out the new products to market.
“We look for ‘win-win’ opportunities, whereby if our customers do well, we do too – and vice versa. One such opportunity is allowing customers to own a piece of HashChing and benefit from any success we have.
“With that in mind, equity crowdfunding enables everyday Australians with as little as $250 to get a stake in the business, while at the same time ensuring that they get the same legal and regulatory protections as sophisticated investors.
“We’ve built this business on the ability to put more money back into the pockets of homeowners and not the banks, and this crowdfunding opportunity extends that vision to give our loyal customers and everyday Australians an opportunity to invest in a fast-growing fintech that they believe in.”
HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely free to consumers, HashChing connects customers directly with verified mortgage brokers who further negotiate better rates from lenders, saving valuable time and money.
Equitise is an online equity crowdfunding platform connecting start-ups and high growth businesses, with a broad range of investors. We help businesses grow and thrive in a simple, intuitive and social way by disrupting the investment marketplace and removing the traditional funding barriers and costs.
Like any investment, Crowd-Sourced Funding (CSF) is risky. Investors may lose their money and the business may not achieve its objectives. You should consider the CSF offer document and the general CSF risk warning contained in the offer document in deciding whether to apply under the offer.
Originally published by: HashChing