Australian fintech, Parpera, successfully raised $1,000,000 from everyday Aussies with the leading Australian Equity Crowdfunding platform Equitise!
Parpera raised $800,000, its maximum funding target, after only 10 days of opening up investment access to the public. With many everyday investors missing out, Parpera immediately opened up a second tranche, subsequently raising another $200,000 within 3 hours.
Parpera is giving traditional business banking a serious shakeup. As a digital banking alternative for businesses, freelancers, and entrepreneurs it’s building an ecosystem of fair and transparent products and services to help people to more effectively set up, manage, and grow their businesses in the new economy.
Founded by Daniel Cannizzaro, former EY financial services management consultant and London Business School MBA, Parpera will initially offer its members digital wallet, card, payment and money management capabilities, on a paid-subscription basis and has established a strategic integration and marketing partnership with MYOB, which has access to ~1m businesses.
In Australia there are ~2.4 million businesses of which 88% have between 0-4 employees, representing the fastest growing businesses segment (2.38%, 5-year growth rate). This large segment of the Australian population and economy is underserved and undervalued by traditional financial institutions, which are constrained by legacy business models, technologies and practices, as well as new entrants to the market, such as neobanks, which are focussed on consumers.
Parpera is not a bank so it’s not restricted by incumbent legacy models, and does not benefit from and is not incentivised to make money off its members’ money. The company will strategically partner with reputable third parties to initially source the underlying products, leading financial services technologies and regulatory licences required.
Parpera’s Founder Daniel Cannizzaro explains, ‘’Businesses are tired of having to manage their business finances via a patchwork of financial products, spreadsheets, invoicing, and accounting tools. It is costing them time, money and adding to the stress of running a business. Finally, Australian businesses will have a better way to manage their money.
We chose equity crowdfunding because we want to co-create Parpera with a community of people, businesses and investors, and believe equity crowdfunding is a powerful way to achieve this.
We’re grateful for the investment, support, and encouragement from the Australian and global community throughout our equity crowdfunding campaign and are excited to collaboratively build Parpera!’’
Co-founder of Australia’s leading Equity Crowdfunding platform Equitise, Jonny Wilkinson says ‘’As a small business ourselves, we experienced frustration over inadequate business management products and felt neglected by the big banks, so we know there’s a real need for this solution.
We’ve also seen strong evidence of fintechs, launching and scaling similar propositions, overseas. This means there’s a real opportunity for a challenger to come in and change the game, bringing Australia up to speed with the rest of the world. That’s why we partnered with Parpera and weren’t surprised when we had people lining up to invest.’’
About Equitise: Equitise is an online investment platform connecting startups and high growth businesses with a broad range of investors. We help businesses grow by disrupting the investment marketplace and removing the traditional funding barriers and costs.
About Parpera: Parpera is an Australian fintech that aspires to improve the economic prosperity of people, communities, and societies, globally. Parpera is building an ecosystem of fair and transparent products and services that help people to effectively set up, manage, and grow their business in the new economy.