CrowdfundUP jumps to first place on Techboard rank

14/10/2016 - 12:19


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Local fintech CrowdfundUP tops this fortnight's Techboard ranking, having closed a $2.1 million capital raising led by Sydney-based Positive Investment Enterprise.

Local fintech CrowdfundUP tops this fortnight's Techboard ranking, having closed a $2.1 million capital raising led by Sydney-based Positive Investment Enterprise.

The Perth-based startup will use the funds to roll out its property crowdfunding platform into China.

Techboard said CrowdfundUP gained strong mindshare, in particular across social media platforms.

This is CrowdfundUP's first time in Techboard's top 20.

"CrowdfundUP is ecstatic to have secured funding that will enable the business to expand rapidly into international markets," chief executive Jack Quigley said in a statement.

"The success of the business could not have been achieved without the work of the entire team and our valued strategic partners at BDO and Positive Investment Enterprise."

Troubled streaming company Quickflix is the second highest trending company, as news emerged that is had been acquired by a US media company for $1.3 million.

The listed company is currently in liquidation, having struggled to compete against Netflix in the Australian market. 

The acquisition will see it removed from the Techboard ranking, as it ceases to exist as an Australian company.

MMJ Phytotech raised $4 million from institutional and sophisticated investors, and is ranked third.

The placement was oversubscribed, and comes as the medicinal cannabis company seeks to spin out its cannabis subsidiaries in a Canadian reverse takeover.

MMJ hopes to gain access to the rapidly growing Canadian market, where the government is expected to soon legalise marijuana for recreational use.

KinChip Systems and All of Me are ranked fourth and fifth, as a result of their winning the state government's Start IT Up WA challenge.

KinChip walked away with the lion's share of the funding on offer ($50,000), for its Kindom app which provides child development informatics.

Other noteworthy startup accomplishments and milestones this fortnight include Metavone announcing an immiment $5 million IPO, Touchline Connect and ePAT Technologies making the finals of ACS' 2016 Digital Disruptor Awards and the the completion of the acquisition of ePat by MinquestSentient Computing and Stirfire Studios presenting at the Perth Games Festival (sponsored by Healthengine), pitches at the Perth Angels by StorekatCovocateTheScreeningLab and Bombora Wave Power, and Newton Labs's co-founder Simon Vincent appointed entrepreneur-in-residence at CORE Resources Innovation Hub. 


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