SA regtech startup company, Intergreatme has set what seemingly looks to be an African crowdfunding record. They achieved this by raising just over R28-million, just six days after the official launch of the campaign on Uprise.Africa.
The startup was founded in 2016 by James Lawson, Dewald Thiart and Luke Warner — has an identity management platform which provides users with control of their identities across financial services, telecommunications and insurance.
With just 53 days left of its campaign, Intergreatme has already raised R28,479,000 from 165 investors — well over its target of R24-million, in exchange for a 20% share in the startup. The startup mentions further in its prospectus that it is allowing investors to invest a further R8-million for another five percent equity.
Why have some crowdfunding campaigns succeeded where others have not?
Qadir said it came down to those seeking the investment basically having a good social media and marketing strategy. “You can be ready for investment, but not ready for crowdfunding,” she added.
Having raised R28-million in lightening time, other startups might be asking themselves now — do they really need the help of venture capitalists or could crowdfunding be the way into the future?
Perhaps this is something to look into for your future plans, by using crowd-funding platforms to fund various needs and this might too, include raising capital for your ventures.