South Australian biological fertilizer business Neutrog Australia has cracked through its maximum raise target of $3 million as part of an equity crowdfunding campaign to prepare the company’s soil for its next growth phase.
Hosted by equity crowdfunding platform OnMarket, the campaign garnered support from 794 individual investors following its launch on 11 May, with the raise becoming oversubscribed since then.
Neutrog managing director Angus Irwin, who founded the Adelaide Hills-based biological fertilizer business in 1988, said the decision to raise funds through crowdfunding platform OnMarket aligned with the company’s history and its future direction.
“It was imperative to me that if I was going to invite investors into the business for our next phase of growth, those people needed to understand who Neutrog are and be genuinely engaged in the ethos of our business – not just the bottom line,” Irwin said.
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