Invivo Wines has raised a record-toppling $1.7 million in its first six days on an equity crowdfunding platform.
The Auckland-based company, which contracts grape growers based in Marlborough, has set the New Zealand record for funds raised through equity crowdfunding.
Equity crowdfunding involves giving large numbers of people the chance to invest in a business or project, often through an online investment website.
The previous record for equity crowdfunding was held by drone manufacturer Aeronavics, which sourced $1.5m.
Invivo Wines co-founder Tim Lightbourne said he was unsure how much money would be raised through the crowdfunding effort when it kicked off at noon last Wednesday.
“We’re amazed at how it’s gone and how quickly it’s gone . . . It literally has been a snowball effect in terms of growth.” To read full article, click http://www.stuff.co.nz/marlborough-express/news/67497090/Invivo-Wines-breaks-crowdfunding-record