Latest news with #crowdfunding
RNZ News
2 hours ago
- Business
- RNZ News
How to get into the housing market with $80
HomeShare has worked with the Financial Market Authority to finetune its offering. Photo: Supplied/Susan Edmunds If you want to get into the property market, but don't have the money to do so, you may be about to get your chance - again. New fintech start-up HomeShare plans to launch later this year, offering investors the opportunity to buy a share in residential property. If that sounds familiar, that's because it's not the first attempt to offer this sort of investment scheme - The Property Crowd and The Ownery have both tried it within the past decade. In 2022, the Financial Markets Authority suspended the crowdfunding licence of The Property Crowd, after it contravened licensee obligations. No investors were using the platform at that point. The Ownery launched in 2016, offering shares in an Ellerslie house, but there was reportedly underwhelming investor interest and less than a quarter of shares were sold. It has not responded to a request for comment. Homeshare founder Martin van Blerk said the key difference between those previous attempts and his latest was that he had worked with the Financial Markets Authority in its fintech sandbox. The 'sandbox' is designed to encourage innovation, and allow participants to test their new products and services in a controlled environment, getting a better understanding of what the regulator will expect of them and adjusting as required. Van Blerk said HomeShare would offer 10,000 shares in a property based on an independent valuation. Its first property would be in Hamilton. People could buy single shares or many. On an $800,000 property, a share would be $80. Martin van Blerk is aiming for an October launch for HomeShare. Photo: Supplied/Susan Edmunds "The goal is making housing more affordable, more transparent and just easier to access for a lot of people, who'd otherwise be locked out, either because they don't have enough for a deposit or a mortgage, or they just don't know how to go about it." He said he aimed for an October launch and hoped to eventually have properties all over New Zealand. "Instead of buying one property in Auckland, you could buy shares in 100 throughout New Zealand, so it's a great way to diversify risk for property owners." Owners would receive a proportionate amount of rental income from the property and pay a proportional amount of the cost of ownership, including maintenance. People who wanted to exit their investment could sell their shares on HomeShare's secondary marketplace, as long as the price was set within what the company said was a reasonable range. Fees would be charged when shares were bought and sold. For first-home buyers, the fee is 0.95 percent "or slightly higher if you're a traditional investor". Van Blerk said the model had proved popular in other countries. "New Zealand is sort of lagging behind. I think this is a chance to put us at the front of a shift that's happening." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
The Sun
4 hours ago
- Business
- The Sun
Gemma Atkinson turns to crowdfunding to raise £500k to launch her beauty brand, but angry trolls rage she can ‘do one'
GEMMA Atkinson has sparked controversy after turning to crowdfunding to raise £500,000 to launch her own beauty brand. The actress has already attracted an impressive social media following for her skincare company Gem & Tonic, which aims to provide products to "simplify your beauty regime". 5 5 "Every single product combines scientifically-proven ingredients with mineral rich gemstones," she said. As she prepares to "officially launch" the brand in September 2025, Gemma has decided to try and raise funds through Crowdcube - which asks people to "invest in Europe's best startups". On the Crowdcube page, which has already raised £48,296 from 354 different investors, Gemma says: "We're now looking to raise £500,000 to officially launch in September 2025 to continue the movement and the community we've already started. "If you're looking to invest in a brand with a real community in real demand, you've found yourself a real good gem." The page also highlights some of the company's successes to date, including the fact they made £127,000 in pre-order sales in just three weeks. The equity investment has a share price of 90p and a pre-money valuation of £2.25 million. "The Company had already raised £250,000 prior to the Crowdcube raise," the page reads. "For the avoidance of doubt, this has been included in the pre-money valuation displayed in the pitch." And for those investing in the business, there are various 'rewards' for doing so - all of which start from an investment of £50. Investing £50 will get you a signed thank you card from Gemma, while for £25,000 you'll get to "meet Gemma and have lunch with the G&T team", as well as an investor-only lifetime discount of 15%, a product bundle, an invite to the press launch, lifetime early access to new products and Gemma's signed thank you note. Gemma Atkinson reveals her hit CBeebies show has been AXED after just one series However there's also a warning at the top of the Crowdcube page, which reads: "Don't invest unless you're prepared to lose all the money you invest. "This is a high-risk investment and you are unlikely to be protected if something goes wrong." News of Gemma's crowdfunding efforts quickly made its way onto social media, with trolls using the comments section of the videos to have their say on the controversial move. "Why hasn't she used her own money?" one wrote. "I don't want to Invest of your not engaged to the hilt in every financial way." "Crowd funding to make herself rich," another added. "Ok send me money and I'll start a business!" "So she wants people to help her… doesn't she know about the cost of living crisis us normal people are dealing with?" a third commented. "Over 1/2 mil in her bank - usual rich get richer!" someone else sighed. "Crowd funding? Gemma can do one," another raged. "Bloody hell she has more than most for money!" someone else said. And as another labelled it ridiculous, someone else agreed, writing: "Clearly not confident in her own idea to fully invest herself, putting up her property as collateral. "Guaranteed to fail." "She's got a nerve!" another commented. However, there were those in the comments who came to Gemma's defense. "She isn't making you invest!" one wrote. "I say fair play to her and wish her well." "Think she's asking for £10 as a minimum, which is reasonable," another added. "She's kept her community involved from the get go - naming, scents etc so I don't see the issue." "Shame to see so many women tearing other women down regardless of their status or financial situation!!" a third sighed. "So much hate in the world these days already." 5
RNZ News
11 hours ago
- Business
- RNZ News
How to get into housing market with $80
HomeShare has worked with the Financial Market Authority to finetune its offering. Photo: Supplied/Susan Edmunds If you want to get into the property market, but don't have the money to do so, you may be about to get your chance - again. New fintech start-up HomeShare plans to launch later this year, offering investors the opportunity to buy a share in residential property. If that sounds familiar, that's because it's not the first attempt to offer this sort of investment scheme - The Property Crowd and The Ownery have both tried it within the past decade. In 2022, the Financial Markets Authority suspended the crowdfunding licence of The Property Crowd, after it contravened licensee obligations. No investors were using the platform at that point. The Ownery launched in 2016, offering shares in an Ellerslie house, but there was reportedly underwhelming investor interest and less than a quarter of shares were sold. It has not responded to a request for comment. Homeshare founder Martin van Blerk said the key difference between those previous attempts and his latest was that he had worked with the Financial Markets Authority in its fintech sandbox. The 'sandbox' is designed to encourage innovation, and allow participants to test their new products and services in a controlled environment, getting a better understanding of what the regulator will expect of them and adjusting as required. Van Blerk said HomeShare would offer 10,000 shares in a property based on an independent valuation. Its first property would be in Hamilton. People could buy single shares or many. On an $800,000 property, a share would be $80. Martin van Blerk is aiming for an October launch for HomeShare. Photo: Supplied/Susan Edmunds "The goal is making housing more affordable, more transparent and just easier to access for a lot of people, who'd otherwise be locked out, either because they don't have enough for a deposit or a mortgage, or they just don't know how to go about it." He said he aimed for an October launch and hoped to eventually have properties all over New Zealand. "Instead of buying one property in Auckland, you could buy shares in 100 throughout New Zealand, so it's a great way to diversify risk for property owners." Owners would receive a proportionate amount of rental income from the property and pay a proportional amount of the cost of ownership, including maintenance. People who wanted to exit their investment could sell their shares on HomeShare's secondary marketplace, as long as the price was set within what the company said was a reasonable range. Fees would be charged when shares were bought and sold. For first-home buyers, the fee is 0.95 percent "or slightly higher if you're a traditional investor". Van Blerk said the model had proved popular in other countries. "New Zealand is sort of lagging behind. I think this is a chance to put us at the front of a shift that's happening." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
2 days ago
- Business
- Yahoo
As Gaza starves, GoFundMe accused of blocking ‘millions of dollars' raised
GoFundMe has been accused of blocking 'millions of dollars' of life-saving aid from reaching Gaza. Charity leaders, activists and desperate Palestinians in Gaza have condemned the crowdfunding website for shutting down or blocking withdrawals for Palestine-related fundraising pages – and have accused bosses of having 'blood on their hands'. Despite questions from Al Jazeera, the company has not revealed the amount of money raised on its platform for Gaza that has been frozen in its system or has been refunded to donors. But it has told Al Jazeera that more than $300m has been raised on the platform for both Palestinians and Israelis since Hamas's October 7 attacks on Israel in 2023 and the beginning of Israel's war on Gaza. Hala Sabbah, the founder of mutual aid group The Sameer Project, said that in September, more than $250,000 of donations to her organisation was refunded. The London-based NGO-sector worker described the closure of her GoFundMe page as a 'disaster' for her group's efforts to provide emergency aid in the enclave. The Sameer Project runs a camp for displaced people in Deir el-Balah, providing healthcare and essentials to its residents – paid for by money that, until now, had been raised through GoFundMe, totalling more than $1m. It also funds food, water, shelter and clothing for people across Gaza. Sabbah said she was 'treated like scum' by GoFundMe, despite her group's pages raising about $44,000 for it in transaction fees. 'Our GoFundMe page had daily updates with complete cost breakdowns of every single initiative we did – everything was well-documented, with receipts,' she said. 'This information – including all transfers – was forwarded to GoFundMe, yet they still chose to shut us down.' GoFundMe notifies page organisers that there will be a 'review' process after they launch fundraisers related to Palestine – or 'the conflict in the Middle East', as it is phrased by the company's compliance team in emails seen by Al Jazeera. The company claims this is part of its 'standard verification process', but critics say it appears to inordinately restrict Gaza-related pages rather than those for other causes, such as Israel or Ukraine. GoFundMe has refused to disclose figures that show how many Israel or Ukraine fundraisers have been closed compared with those for media has been flooded with Palestinian advocates speaking out about their pages being shut down. Fundraisers for Israel and Ukraine appear to face little of the same scrutiny. And when they do, media campaigns can quickly force GoFundMe to act. One Ukraine fundraiser that was shut down in March 2022 was reinstated the next month after media coverage of the case. The company's long and intrusive review process often results in Gaza fundraisers being shut down and money refunded to donors or pages being 'paused', preventing funds from being accessed by account holders until the review is concluded. One United States-based fundraiser for the Sulala animal shelter in Gaza says it had about $50,000 dollars refunded to donors when its first page was closed. The team behind the fundraiser then created another page without specifically mentioning Gaza or Palestine, which was not flagged by GoFundMe, placed under review or paused, and ran for months uninterrupted. In the case of The Sameer Project, GoFundMe's compliance team said it was concerned about how funds were being distributed, and said that the documentation Sabbah had provided was not 'accurate, complete or clear'. An email to Sabbah added that there were 'material discrepancies' between the information shared and how funds were distributed to beneficiaries. Before shutting the page down, the compliance team asked for personal information about who was receiving funds, evidence of bank transfer statements and details about partner organisations, which Sabbah says The Sameer Project provided. 'We spent weeks fighting back, and they completely ignored us – even denying us access to our donor lists,' Sabbah told Al Jazeera. 'People can raise funds to help the Israeli military… and their pages don't get closed. But we try to raise money for diapers and lifesaving medication, and we get scrutinised and shut down.' 'We have children in our camp on the verge of death. The company has blood on its hands.' The mutual aid group – named after Sabbah's Gaza-based uncle who died in January – says it has provided more than 800,000 litres (211,330 gallons) of water, $100,000 in cash aid, 850 tents and medical treatment for 749 children across the enclave. It transfers money to intermediaries via makeshift exchange sites and by sending money directly to doctors or pharmacies. Crowdfunding websites have for months been one of the only feasible ways to help those trapped in Gaza. Famine is creeping further into the enclave, humanitarian aid is being blocked for long periods, civilian infrastructure lies in ruin and banks and ATMs have either been destroyed or have halted operations. Sabbah slammed GoFundMe for not justifying shutting her page down despite the huge amount of money the company made from the group's pages in'payment processing fees'. It charges 30 cents per donation and a 2.9 percent cut of the total raised. There are no banking services left in Gaza, but there are exchange offices – often people using POS (point of service) cash machines charging exorbitant interest rates – and the option to swap cryptocurrency for physical currency, amid critical shortages of the latter. Without regular aid flowing into the enclave, most charities rely on sending money via these limited routes to intermediaries who will distribute essentials and medical supplies. Some tinned food, tents and health products are on sale in Gaza markets. But cash is scarce, stocks are extremely limited, and most people cannot afford to pay. Since breaking the ceasefire agreement with Hamas brokered in January, Israel resumed bombing and re-established a blockade on humanitarian aid lasting months. Now, aid is only reaching the enclave through the heavily criticised US-backed Gaza Humanitarian Foundation (GHF). Hundreds of desperate Palestinians have been shot and killed by Israeli forces at GHF aid collection still trapped in Gaza, Mostafa Abuthaher and his brother Yahya Fraij, aged 30, have twice created GoFundMe pages, and on both occasions, the company closed them down. Yahya lost his home and three of his cousins to Israel's onslaught, and now his family survives with only a makeshift tent near the beach in al-Mawasi in southern Gaza. His wife gave birth to their six-month-old daughter during the war. Yahya told Al Jazeera that she has experienced nothing but suffering during her short life – and he has had to protect her from extreme cold and the trauma of Israeli bombardment. 'My daughter and I face death almost every day,' he said. 'And now we have nothing – not even a tent. The war has taken everything from us. 'We've been treated like animals and insulted by the world for the last 20 months.' The brothers had raised more than $12,000 to support their families until their first page was suddenly shut down. The company blocked them from withdrawing nearly $5,000. In an email exchange with GoFundMe, a compliance officer said Mostafa's page breached the company's terms of service for 'prohibited conduct', which covers fundraisers that are 'fraudulent, misleading, inaccurate, dishonest or impossible'. He was asked to send a photo ID, provide his location and explain why his page description had changed so often and how the funds would be used. Then his page was closed, after which he expressed astonishment and accused the platform of bias. The brothers say that many people in Gaza have set up GoFundMe pages because of the platform's size and reputation, and then found themselves 'trapped' once their pages began the often ill-fated verification process. Critics of GoFundMe say campaigns fundraising for Israel appear to be able to avoid similar interventions from its compliance team. Other fundraisers on the website state they aim to raise funding for 'equipment' that supports the Israeli military, or 'training' and travel for new recruits. A page raising money for gun sights and other equipment to 'safeguard' the Kishorit kibbutz in the north of Israel appeared to breach the website's terms of service, but was active for nearly a year before no longer becoming accessible. The terms of service prohibit fundraising for 'weapons meant for use in conflict or by an armed group'. Sabbah added that there is no guarantee that money from similar pages to fundraise for 'equipment' or 'security' won't be used to buy weapons, at a time when the Israeli government is actively arming its Jazeera sent several questions to GoFundMe, asking how many Gaza-related fundraisers there are, how much they had raised, the number listed as 'transfers paused and the total removed or taken down. We also asked the company to provide like-for-like figures for Israel and Ukraine. At the time of writing, GoFundMe refused to provide the specific information and data we requested. A spokesperson said: 'GoFundMe has helped raise and deliver over $300m from donors in more than 215 countries and jurisdictions to support individuals and organisations helping those in both Gaza and Israel. 'Any suggestion of double standards is wholly without merit, baseless, and contrary to the values that guide our platform. 'Any decision to remove a fundraiser from the platform is never taken lightly and is informed explicitly by our Terms of Service. Taking action like this is difficult, but it protects our ability to support people who are fundraising to help others.' Amr Shabaik, the legal director at the Council for American Islamic Relations (CAIR), told Al Jazeera that the fundamental issue with platforms like GoFundMe was the 'imbalanced application of rules' – behaviour consistent with other forms of digital censorship since October 7. 'Algorithmic discrimination and targeting, looking for certain descriptors and categories – like Gaza or Palestine specifically in the last 18 months – means some pages are subjected to an unfair and high level of scrutiny that other fundraisers are not,' he said. 'All platforms have their rules and regulations, but they're applying them disproportionately and unfairly towards Palestinians.' 'There is a clear indication of a double standard. If you are actively preventing lifesaving aid – intentionally or unintentionally -– from reaching Gaza, it's tough to say you're not supporting a genocide.' Shabaik points to studies undertaken by Human Rights Watch (HRW), The Arab Centre for the Advancement of Social Media and Palestine Legal that detail platforms' inordinate targeting of pro-Palestine pages or accounts. HRW says that between October and November 2023, 1,049 pro-Palestinian posts on Facebook and Instagram were taken down by the platform's owner, Meta. Palestine Legal says that between October 7 and December 31, 2023, the organisation received 1,037 requests for legal support from people 'targeted for their Palestine advocacy'. The Arab Centre for the Advancement of Social Media documented more than 1,639 'censorship violations' in its 2023 annual report, including content removal and suspensions. Last December, the Industrial Workers of the World (IWW) Freelance Journalists' Union said that GoFundMe prevented $6,000 of funding from reaching the Palestinian Journalists' Syndicate after its fundraiser was shut down. This is despite the organisation being based in Ramallah in the occupied West Bank, not in union delegate, using the name 'Arv' as he wanted to remain anonymous, told Al Jazeera the money would have provided protective helmets, press vests and other safety apparatus for journalists reporting in the territory. He added that GoFundMe said the fundraiser was shut down due to a lack of compliance with unspecified 'laws and regulations'. In December, a union spokesperson said on its Twitter page: 'Over the course of the fundraiser, we received a dozen requests for further information from GoFundMe, all of which were answered as thoroughly and in as timely a manner as possible, given the ongoing war.' Arv added that the union had been pushed to explore the use of other fundraising platforms because of the difficulty of working with GoFundMe. 'Current GoFundMe users should do the same before they too are caught in such Kafkaesque circumstances,' he said. The GoFundMe compliance team asked for business information, such as bank accounts, and even after informing the union the information had been accepted, the page was still closed down. GoFundMe boasts that it is the world's number one crowdfunding platform, but it only allows fundraisers to be created in 20 nations (not including Israel, Ukraine or Palestine) – meaning people in Gaza are reliant on intermediaries thousands of miles away if they want to receive donations. All those interviewed for this story and other campaigners have endorsed a boycott of the platform. Sabbah says she has since begun using the Australian crowdfunding website Chuffed, which reviewed her documentation and swiftly permitted her to withdraw, allowing her to continue her group's work in Gaza. The platform says it advocates on behalf of campaigners to sort out verification issues with its payment providers to prevent pages from being frozen or refunded. Chuffed general manager Jennie Smith said: 'We've been helping campaigners migrate from GoFundMe to Chuffed by the thousands over the last year and have seen firsthand the devastation the shutting down of their GoFundMe campaigns causes.' Yahya described life for his family in his makeshift tent. He walks miles every day to get water and wraps up his baby daughter for the cold winter nights, fearing they may not wake up in the morning. He says his family may have escaped the enclave if GoFundMe had allowed him to withdraw the money he raised. 'I try not to think about losing our money,' Yahya said. 'If I kept thinking about how terrible everything is, I wouldn't be alive now! 'But it makes you feel like everyone is conspiring against us. They are leaving us to die slowly.'
Entrepreneur
2 days ago
- Business
- Entrepreneur
3D Printer Breaks Kickstarter Record, Raises $44M
The Kickstarter campaign is the most funded project in the history of the crowdfunding site, with pledges from 17,220 individual backers. When eufyMake, the creative tool brand under electronics company Anker Innovations, launched a Kickstarter campaign in April, it had an ambitious goal — to raise half a million dollars within two months to fund a new 3D printer, capable of printing designs on everything from blocks of wood to tote bags. The campaign immediately took off, raising over $10 million in 14 hours, according to a press release. Now, with less than two days to go before the campaign ends, Seattle-based eufyMake has raised over $44 million, breaking the Kickstarter record for the most funded project in the history of the crowdfunding site. (The previous record of $41.7 million was set by fantasy author Brandon Sanderson's Kickstarter campaign in March 2022 for four new novels.) "We're incredibly grateful for the overwhelming support from our backers," Frank Zhu, senior vice president of Anker Innovations and Eufy business group lead, stated in the press release. "Thanks to our community, we're not just launching a product — we're helping more people turn their ideas into something real." Related: A 3D Printer Used By Microsoft, Ford, and NASA Is Now Commercially Available — Here's What It Can Do The product that has garnered interest from 17,220 individual backers is EufyMake's UV printer, which could enable businesses to create new products. UV printers, or ultraviolet curing inkjet printers, use UV light to dry inks instantly as they are printed on a variety of materials, like wood, metal, and glass. EufyMake claims to have made the world's first personal UV printer, the E1. The printer turns 2D designs into 3D-textured artwork, with no prior experience with the technology required. A user places any surface under the printer and can print out a personalized message, photo, or design on the surface. There's a 3D element — the printer can stack filament to create texture in the finished product. The E1 is capable of printing directly on objects like phone cases, laptops, tote bags, cups, or banners, opening the doors for businesses that focus on customized products. The printer has a maximum print area of 180 by 130 millimeters, and can work with objects up to 50 millimeters thick. Related: 'Creators Left So Much Money on the Table': Kickstarter's CEO Reveals the Story Behind the Company's Biggest Changes in 15 Years The E1 costs nearly $2,000, but the price tag hasn't deterred backers. One popular option on Kickstarter, with over 3,700 backers at the time of writing, is the sold-out $1,970 early bird E1 rotary bundle, which allows users to print on cups, tumblers, and ceramic mugs as well as print 3D textures up to 5 millimeters in height on solid surfaces. The estimated delivery for the bundle is in July. Options still available for sale include the E1 Basic Bundle kit, which is priced at $1,900. The bundle is capable of printing 3D textures that are up to 5 millimeters in height on metal, wood, acrylic, ceramic, and solid materials. Nearly 100 backers have chosen this option at the time of writing, and the estimated delivery window for the product is in August. The most expensive option still available for sale is the $2,752 deluxe bundle, which allows users to print designs on fabrics like tote bags, wallets, and hats, as well as print on flat surfaces like banners. The E1 Kickstarter campaign closes on June 28 at 9:57 a.m. Eastern Time.
