Equity crowdfunder Birchal has raised more than $2 million to help Aussie start-ups make the leap to commercial success with ideas that "improve the world".
Birchal was aiming to raise up to $3 million, depending on demand, but closed the offering when it hit $2.39 million after just nine days.
"We want to make it possible for start-ups to be commercially successful and bring ideas to market that improve the world we live in," Birchal chief executive and co-founder Matt Vitale said.
Sourced from over 1100 loyal backers, the latest funds come from a mix of retail and wholesale investors.
Mr Vitale said they share Birchal's mission to "democratise access to capital" for local start-ups.
Birchal success stories include vegan-friendly fashion, electric car-sharing and honey empires.
More recently, meat subscription service Our Cow, sustainable surf brand Boardsox and hemp products have found grassroots funding through Birchal.
"With current funding channels across the wider financial system slated to worsen next year, we believe that equity crowd-sourced funding will offer a lifeline to start-ups and scale-ups," Mr Vitale said.
"It's a much tougher funding environment than we've seen in a while and the strong investor support we received during this process has been humbling."
The company said the capital injection would go towards building the digital platform, launching products and services that add to the core business, and developing new revenue streams.
Venture capitalist and long-term Birchal backer Dom Pym added $1 million to his stake through the family's organisation Euphemia.
"Euphemia's ongoing investment in this latest funding round speaks volumes about our joint dedication to fortifying the funding ecosystem and nurturing Australian star-tups," he said.
Entrepreneur Connie Mckeage cashed in one some recent success by selling shares in emerging software company Employment Hero and said she was keen to reinvest back into the start-up community through Birchal.
"I've had my time running a public company and investing in the index but now I think more about investing in assets that can create a better future for my grandchildren," she said.
