New Zealanders are well-known for our ‘do it yourself’, ‘number 8 wire’ attitudes – so it’s no wonder we are a country full of successful start-up businesses. Over the last year we’ve had the pleasure of working with Snowball Effect (a successful start-up themselves), an equity crowdfunding platform that helps kiwi businesses raise funds by offering shares to the public through the Snowball Effect website.
One of Snowball Effect’s recent successes was with Punakaiki Fund – a venture capital fund that invests in fast growing, New Zealand based companies in the design, technology and internet sectors (a startup raising funds for a startup that invests in startups, aren’t us kiwis supportive folk?). Punakaiki launched their campaign with an offer video through Snowball Effect and in just over a month, they hit their crowdfunding goal of $2 million – that’s a huge success for Snowball Effect, Punakaiki Fund, the shareholders and the companies that Punakaiki invest in. One of the greatest things about this success story is that it isn’t an anomaly; Snowball Effect have had a string of companies hitting, and exceeding their crowdfunding goals with the help of the New Zealand public.
Until recently, it was very expensive and time-consuming for a company to offer shares to the public but now any New Zealander can invest online in local companies through licensed equity crowdfunding platforms like Snowball Effect. Over the last ten years we have seen the growth and prevalence of the web and digital technologies break down communication barriers and make multinational business closer to home than ever. Now, with the help of companies like Snowball Effect and Punakaiki Fund, everyday kiwis can give a helping hand to local companies, and get a piece of the pie in return. We love working with Snowball Effect and being able to see kiwi businesses thrive, and we can’t wait to see where the future takes them.