Global crowd funding platform Indiegogo has launched AUD-based campaigns to support a growing number of Australian entrepreneurs to have joined up in the past five years.
The company claims to have hosted thousands of Australian fundraising campaigns since launching globally in 2008, but those have so far been USD-based, putting entrepreneurs at the mercy of exchange rate fluctuations and a $25 flat rate conversion fee.
A spokesperson said Australian entrepreneurs had responded enthusiastically to Indiegogo’s decision to support AUD campaigns, especially after the past few months of volatility.
Australian businesses have turned increasingly to crowdsourcing as a means to test the market or to fund ventures that would struggle to win over traditional investors or banks.
Indiegogo’s launch today follows competitor Kickstarter’s October 15 decision to begin supporting AUD-based campaigns from November 13. Meanwhile, Australia-born crowd funding platform Pozible this week began accepting funding pledges in Bitcoin.
A growing number of alternative lenders have emerged to serve the market, with merchant cash advance provider AUSvance adding $25 million to its $10 million credit line earlier this month.
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