OnMarket's equity crowdfunding timeline
Updated: 3 days ago
When raising capital via crowd-sourced funding (CSF), or equity crowdfunding with OnMarket, your company will go through 4 key phases: Preparation, Expression of Interest (EOI), Live Offer, and Completion. Here’s the timeline you can expect for each phase:
Phase 1: Preparation
On your marks…
What you'll complete | What it involves |
Compliance groundwork | To make a CSF offer, ASIC requires OnMarket to complete certain checks on you, your directors and your company. ASIC calls this our 'gatekeeper role'. |
EOI campaign preparation | Preparing an EOI company page, a short pitch video and your EOI marketing plan. |
Offer readiness check | Before EOI, we check you have everything needed to make an offer under the regulations, including a drafted offer document. |
Phase 2: Expression of Interest (EOI)
Get set…
Before your CSF offer opens, you'll run an EOI campaign. Its main goal is to promote your company and its upcoming offer.'
Why run an EOI campaign?
It does two things. First, it builds interest from the crowd: your network, OnMarket's network and the general public.
Second, it lets you gather feedback from potential investors. This gives you an indication of how much you may be able to raise and which parts of your business to emphasise in your marketing.
What if EOI doesn't go to plan?
Strong EOI interest is a good sign your offer will succeed. If your campaign isn't resonating with the market, we'll call a 'time out' to rethink the approach.
For your EOI, you will need:
An EOI company page set up on the OnMarket platform
A brief pitch video
An EOI marketing plan, pre-prepared materials (digital ads, emails, social posts etc) and a budget allocation to maximise impact
Phase 3: Offer
GO!
In this phase, you invite people to invest in your company through the OnMarket platform. Before your offer can go live, two things need to be in place:
1. You pass our gatekeeper checks Background checks on your directors, senior managers and the company, plus having the necessary documents in place. | 2. Your EOI results line up Market feedback and data from your EOI campaign align with your raise expectations. |
For this phase you will need the CSF offer material you prepared in Phase 1:
Offer company page set up on the OnMarket platform (your EOI page with any updates you want to add)
A compliant offer document and your constitution (plus a shareholder agreement if you have one).
An offer video
An offer marketing plan, pre-prepared materials (digital ads, emails, social posts) and a budget allocation
Phase 4: Completion
Finish line
If you raise at least your minimum target amount, your raise is successful. Here's what happens next:
Conclusion
Thinking about raising with OnMarket? Get in touch to talk through your timeline.
If you're interested in learning about CSF eligibility and processes, get in touch with OnMarket here.
