evee, Australia's leading electric car sharing platform, embarked on an equity crowdfunding campaign to raise funds for global expansion and the development of new platform features.
evee has gained significant traction in Australia as a pioneering electric car sharing platform. With over 8,000 satisfied customers and a presence in every major city and town, evee has tapped into the growing demand for electric vehicles (EVs) in the country. Their unique offering allows customers to earn money by renting out their electric vehicles to travelers and EV enthusiasts exploring the market.
The car rental market in Australia is worth $2 billion annually, and EVs represent the fastest-growing niche within this sector.
evee’s innovative approach to electric car sharing has fueled their success, with the company experiencing 100% annual growth for the past three years.
To capitalize on their domestic success, evee aspired to expand its operations globally. The company chose to leverage equity crowdfunding to raise the necessary funds for this ambitious endeavor. By partnering with the Birchal platform, evee aimed to attract investors who were aligned with their vision and enthusiastic about the future of sustainable transportation.
To generate awareness and interest during the Expression of Interest phase, evee collaborated with Glide Agency.
By leveraging the power of platforms like Facebook and Google, we implemented a meticulously planned advertising strategy that eco-conscious individuals, tech enthusiasts, early adopters, and those seeking innovative and sustainable transportation solutions. By precisely tailoring the ad content, visuals, and messaging to resonate with these specific audience segments, we were able to capture their attention and drive engagement.
This in turn, created an engaged and enthusiastic audience that was eagerly awaiting their opportunity to invest in evee.
Once it officially opened, evee’s equity crowdfunding campaign surpassed expectations. The company hit its minimum raise target of $300,000 within a mere two hours, signaling immense investor confidence. A total of 618 investors participated, with an average investment of $2,589, well above the Birchal platform’s average of $1,600. evee’s campaign emerged as the third-largest equity crowdfunding raise in Australia that year, and it became the second campaign to reach its maximum raise amount.
Following the successful crowdfunding campaign, evee achieved a post-raise valuation of $10.6 million.
This significant increase in valuation reflects the investors’ confidence in evee’s growth prospects and its potential to revolutionize the electric car sharing industry. The company has since launched evee in New Zealand and has plans to expand into the UK and Europe.
The funds raised through equity crowdfunding will play a crucial role in evee’s expansion plans. The company aims to onboard more electric vehicles, enhance its platform features, and deliver an exceptional customer experience.
evee’s equity crowdfunding campaign represents a remarkable success story in the Australian startup landscape.
With substantial funds raised, influential support, and an expanding global presence, evee is poised to shape the future of electric car sharing.
By capitalizing on the growing demand for sustainable transportation, evee aims to create a transformative experience for its customers and contribute to a greener future.
We are blown away by the support thrown behind our company – Australia’s only car sharing platform devoted exclusively to electric cars. I’ve been looking at the names of our top investors and they are a mix of people we know who own an electric car, or customers who regularly use our platform to hire EVs. We also have a lot of people who have held notable positions in companies such as Canva and Atlassian – so it is really exciting to have people with connections to the high-profile tech industry throwing their full support behind us.
