9 April 2020

ASIC has released Report 657 Survey of crowd-sourced funding intermediaries: 2018-19 (REP 657). The report outlines findings from ASIC’s second industry survey, which tracks the growth and development of crowd-sourced funding (CSF) in Australia.

The survey covers the first full financial year (1 July 2018 to 30 June 2019) since the CSF framework was introduced in Australia. It is also the first survey period in which proprietary companies have been allowed to make CSF offers.

Australia’s CSF industry is still in its early stages, but it is growing as a source of capital raising. Some notable findings from our survey are:

• There were 56 CSF offers – a four-fold increase compared with the previous survey period, which covered CSF offers from January to June 2018. Nearly 70% of these offers were complete and raised a net total of approximately $26.33 million.
• Proprietary companies raised approximately $14.04 million in the survey period. This amount is 53% of the total raised by complete offers.
• ‘Subscribe now pay later’ arrangements played a significant role in the capital raising process, accounting for $18.80 million in funds raised. This is more than 71% of the net total raised for complete offers.

ASIC will continue to engage with the CSF industry to facilitate innovation while ensuring investor trust and confidence is maintained.

Download Report 657 Survey of crowd-sourced funding intermediaries: 2018-19