Think you have an awesome idea that could turn into a transformative business, if only you had the funding?

How to transform your idea into reality with crowdfunding

Well, there are several ways of financing your dream project, starting with self-funding (or bootstrapping) or asking your friends and family to invest in the business. Another lucrative source could be to seek funds from an angel investor or VC firms. However, it is a difficult option to access and, at times, the terms of the deal could be a little restrictive for founders. Fortunately, there is one more way other than onerous business loans for forward-looking entrepreneurs to raise funds to get their ideas off the ground.

Advantages of crowdfunding your startup journey

Crowdfunding has emerged as a popular alternative to traditional financing models. In simple terms, crowdfunding can be defined as the concept of pooling small amounts of money from a large number of people by reaching out to them online.

Apart from raising funds, an important benefit of conducting a crowdfunding campaign is the publicity it generates for your company. By putting your crowdfunding campaign on a public platform, you basically reach out to the entire world with your idea, presenting you the opportunity to interact directly with your future customers who are also your investors. This not only helps you build a customer base for your product but also get feedback from your customers to refine your product as you test it.

You can read about the benefits of crowdfunding here.

Setting up your crowdfunding campaign

It is quite simple to set up a crowdfunding campaign. Yet, to be successful, it is crucial to plan your campaign well as you must convince people to make them part with their money to support your vision.

Here’s what you need to do to set up your first crowdfunding campaign:

List your goals – Before you set up your campaign, you must frame your goals clearly. This is will help the potential investors to keep track of your progress and also generate trust. Here are the basics:

  • What is the amount of funding that you need?
  • By when do you want to raise that amount?
  • After the funding is complete, how long will you take to develop the promised product?

If you are just starting out, it is advisable not to keep a very high funding goal as it may scare off people.

At this stage, you also need to think how investors will benefit by backing your idea – the proverbial carrot you are going to offer.

Choose the right crowdfunding platform – Depending upon what you are creating, you need to do some research to find the right crowdfunding platform to set up your campaign. There are several crowdfunding platforms in Australia, such as Equitise, to choose from. Consider the following points before you pick a platform to run your campaign.

  • The type of business idea a platform accepts
  • Whether it charges you upfront or once you successfully raise the funds
  • Reach of the platform
  • Other terms and conditions

Post your campaign – Here’s the most important part of your journey; presenting your campaign to potential backers in a unique way. At this stage, you must be careful about how you draft your campaign because it is your words that will convince people to invest in your idea.

If you feel confused, go through some successful campaigns posted by others for inspiration.

Share your story, not just an idea

If you really want to reach out to people, it is crucial to share your story with them, not just your product. By sharing your passion for the project, you help people feel an emotional connect to your idea. To do this, interact with your audience on relevant social video channels through videos, pictures and blogs to share your journey with them. Also, keep your audience regularly updated about the progress of your crowdfunding campaign.

Crowdfunding in Australia

Currently, in Australia, Under the Corporations Amendment (Crowd-Sourced Funding) Act 2017:

  • Unlisted public and proprietary companies with less than AU$25 million in assets and annual revenue can raise up to $5 million a year from retail investors in return of equity in their company through licensed crowdfunding platforms.
  • Retail investors can invest up to AU$10,000 per company per year after completing the prescribed risk acknowledgement and are provided a five-day cooling-off period.

Following this amendment, several startups in Australia turned to crowdfunding to secure funds from the general public to get their ideas off the ground. HashChing, one of Australia’s fastest growing fintechs, is the latest to jump on the crowdfunding bandwagon.

HashChing, an independent voice in the mortgage industry that offers more choice and savings to homebuyers through its customer-centric online platform, aims to raise up to $5 million by the end of June via crowd-funding. The company has partnered with the equity crowd-funding platform Equitise to issue its first round of shares to interested investors who can make an investment in the company with a minimum investment of $250, worth 200 shares. The offer is open to public on the Equitise platform until 5pm (AEST) on 15 June 2018.

The company plans to use the raised funds for increasing brand awareness, introducing new technology and expanding the team.

Read more about the offer here to partner with one of Australia’s fastest growing fintech companies that keeps its customers’ interests first.


By Vidhu Bajaj,
HashChing Content Writer



HashChing is helping Australians by providing access to pre-negotiated home loan deals. Obligation free consultation with one of our partner brokers might save you time, hassle and money.

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