This blog post about crowdfunding in Norway is written by BAD NORWEGIAN and their team. Read the original post here.
Recently, BAD NORWEGIAN launched its first ever crowdfunding campaign with the Finnish company Invesdor.com. Here's some experiences we have so far.
Equity crowdfunding is a new concept in Norway, and there has been a few questions as to what this is. We call it "Become a co-owner". You buy shares in our company through the Invesdor platform and then you own a part of our company.
When we officially launched our campaign on June 10th, there had only been one other case in Norway and we did not really know what to expect. 19 days into the campaign, we see that the fundraising is moving slowly and steadily towards our target. As I write this we are at 75% and we have commitments of additional 20% from another investor.
Of the investors who have invested in us so far, we see family, friends, extended network and totally new names. It is a humbling experience having your personal networks investing in your company, and even more so when people we have never met wants to take part in our journey. One of the main reasons for going with crowdfunding was actually to trigger the positive network effects which comes with a larger investor base. We look forward to all the fun we will create together.
We do not know which investor will bring what type of value to the business, but we do know that all their input is valuable. This is the kind of reach and network we could not have established through a "normal" fundraising round with seed funds and single angle investors. Don't get us wrong, we like them too, they just bring other qualities to the company.
If you are interested in learning more about our round, go over to invesdor.com/badnorwegian or send us an email.