Birchal is officially licensed. Here’s a snapshot of the media’s reaction.

Yesterday, on Thursday the 11th of January 2018, ASIC licensed the first crowd-sourced funding (CSF) intermediaries under the new CSF regime.

Birchal was among the first companies to receive approval by ASIC and be issued with an Australian Financial Services (AFS) licence, authorising us to provide crowd-sourced funding services.

Such services include allowing brands and startup companies to raise capital for their business on Birchal’s platform. The move has been described as a game changer for Australian entrepreneurs and small businesses.

ASIC’s approval has been long-awaited, after the regulations and amendment to the Corporations Act came in to effect on 29 September 2017.

There has been an abundance of media coverage featuring Birchal since the announcement. Here are some of the highlights:

Birchal is set to help 10 companies raise capital using its new licence, including two brewers, a shaving supplies company and a water storage start-up.

— InvestorDaily

First licences granted to crowd-sourced funders

At least ten startups and small businesses are lined up to use the Birchal platform, with the team already running a number of expression of interest campaigns in preparation for the license being issued.

[Birchal co-founder] Matt Vitale says that number is just the tip of the iceberg, however. The Birchal team has been working on a pipeline of equity crowdfund-able businesses for over the past two years…

— SmartCompany

The first Australian equity crowdfunding licences have been issued - SmartCompany

Birchal co-founder Matt Vitale says the issuing of the licences is a major event for the CSF industry.

“We’ve called it in the past a watershed moment for capital raising in Australia and it really is the first time that small businesses are able to offer their shares directly to investors and advertise them widely using social media,” says Vitale.

“It really is something for milllenial investors and the new economy.”

— Business News Australia

Crowd funding websites given licences to help businesses raise money

Another licensee Birchal has already opened three expressions of interest campaigns for consumer brands such as SAMPLE Brew or Oscar Razor, with more to come in the new year.

“This historic move opens up a new economy of people power allowing businesses to raise capital in a brand-new way,” they announced on Thursday.

— Stock Head

Ready your wallets: regulator grants Australia's first crowdfunding licences - Stockhead

Want to know more?

Be sure to check out our website to create an account, browse different companies or even start a crowd-funding campaign of your own.