250.000 Euros in less than 8 days: With such performance ATT sets a new record for B2B crowdfunding in Austria. The funding threshold of 70,000 Euros was reached within 48 hours, and the remaining amount was raised in 5.5 days.
219 investors committed an average of 1,142 to the company. The average daily amount invested was 27,778 Euros, whereby the second day stood out with 65,150 Euros collected within 24 hours only. At the other end of the scale, only 2,500 Euros were invested on November 14. The company management believes that this temporary calm was a direct consequence of the terrorist attacks in Paris which shocked the world on the evening before.
According to the management of Green Rocket, the plattform selected by ATT, the successful campaign is another prove that crowdfunding as an alternative finance instrument is not only suitable for businesses offering consumer products, but also for companies operating in a pure B2B environment. The fact that the target amount was raised in only 10% of the expected time shows that there is a large community with strong appetite for technology investments beyond internet companies and mobile app development.
ATT had decided to use crowdfunding not only to finance part of the planned investment into manufacturing machinery scheduled for 2016. The company management board mentioned two more goals of the campaign:
- Crowdfunding was used as a demonstration to the market that the company’s innovation spirit is not limited to technology but embraces all activities of the company, including financial management.
- It is a strategic goal of management to create a community following and supporting the company’s development. The interaction with the community shall be mutually beneficial: While ATT receives investment, publicity, new customers and feedback to its activities and products, community members will not only be provided with a financial return, but also an opportunity to feed new ideas into ATT’s innovation process and priority access to new technologies and products created.
10 days after the launch of the campaign it has become clear that all three goals have been reached. The financing of the investment project was secured, publicity increased dramatically with new customers, suppliers, technology partners and media approaching ATT on a daily basis and at least 219 persons were added the company’s community.
Company founders Christian Kussmann and Peter Oberauer are proud of these achievements and are looking forward to closing a very successful year.