Small and medium enterprises will finally be able to raise funds from the general public in exchange for equity following the regulators issuance of the first batch of crowdfunding intermediary licences. Eligible public companies are free to source up to $5 million in funds each year through equity crowdfunding, with retail investors able to invest between $50 to $10,000 per issuing company per year. Crowdfunding first emerged in Australia with the entrance of Kickstarter (2009), Pozible (2010) and Indiegogo (2008), which allowed businesses to raise funds for a project from the public.
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