Crowdfunding Update

May 10, 2024
minutes to read
Ben Winford
Table of Contents

We've had an incredible 12 months, bringing on strategic partners, growing our waitlist to over 7,000 businesses, building out our product, and bringing onboard an excellent management team. Over this period, we have actively engaged our waitlist to help shape our product roadmap and to get feedback on what features they really need. During these research sessions we would often get asked about fundraising. This got us thinking - what if our potential customers were also our investors? At the end of last year, we decided that we wanted to allow our Thriday waitlist members, people like you, to invest through Crowdfunding.

After being fed up with the amount of time and money I spent on doing financial admin with my last business, I decided to create Thriday, a revolutionary product that uses artificial intelligence to automate banking, accounting, tax and lending for SMEs. To achieve this mission, we need to grow our team, scale our technology, and invest in customer growth, so we’re going to raise up to $3 million, and we wanted to offer our customers the chance to become part of it.

Crowdfunding is an awesome opportunity for anyone to invest in the brands they love. We have partnered with Birchal, Australia’s leading Crowdfunding platform to run our campaign. We’re currently running an Expression of Interest (EOI) campaign so that we can raise awareness and share the message before we launch our private campaign. If you want to be one of the first investors, you’ll have to express your interest, as we’ll only share the private campaign with our followers from the EOI campaign.  To express your interest, just go here.

So what is crowdfunding? Officially known in Australia as crowd-sourced equity funding (CSF), Crowdfunding allows private companies to source funding by offering a stake in their business to public investors. In the UK, leading fintechs such as Revolut and Monzo raised their early rounds through Crowdfunding, allowing them to build momentum behind their early backers. To make an investment, you'll need to register with Birchal. Then when the offer is live, you will simply enter the amount you wish to invest on the investment offer page and click 'invest'. If you select the follow button on the site, you will automatically be notified as the campaign progresses.

For investments over $10k, you’ll need to confirm your status as a wholesale investor, typically in the form of an accountant's certificate. The certificate must be from a qualified accountant, certifying that you have net assets of at least $2.5 million; or have a gross income for each of the last 2 financial years of at least $250,000. Please visit this link to guide you on what's required.

Next week, we will open the funding round exclusively to you, our early investors. We’re giving you first access to make sure you don’t miss out.  We'll then be opening up the round to the wider Thriday and Birchal network. We would really appreciate your effort to get in early and help us get the campaign off to a great start. The sooner we achieve our target the quicker we can get down to business and start having more of an impact around the world.

We’re genuinely excited about offering you this opportunity as we continue our mission to disrupt the fragmented $57 billion SME financial services market.

Always consider the general CSF risk warning and offer document before investing.

DISCLAIMER: Team Thrive Pty Ltd ABN 15 637 676 496 (Thriday) is an authorised representative (No.1297601) of Regional Australia Bank ABN 21 087 650 360 AFSL 241167 (Regional Australia Bank). Regional Australia Bank is the issuer of the transaction account and debit card available through Thriday. Any information provided by Thriday is general in nature and does not take into account your personal situation. You should consider whether Thriday is appropriate for you. Team Thrive No 2 Pty Ltd ABN 26 677 263 606 (Thriday Accounting) is a Registered Tax Agent (No.26262416).

Why waste time on financial admin when Thriday can do it for you?

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