Funded FY24/25

Birchal is proud to present the sixth edition of Funded! - The Crowd-Sourced Funding (CSF) industry report for FY25. This edition tracks the performance and evolving trends in Australia’s CSF industry, based on data gathered by Birchal and publicly available information as at 30 June 2025.

Since the introduction of the CSF regime in 2018, early-stage and growth-stage businesses have now collectively raised over $347 million across 489 successful CSF offers, supported by more than 194,000 individual investments.

FY25 was a year of both resilience and recalibration for the industry. Total funding volume fell to $33.1 million across 63 offers, reflecting the impact of persistent cost-of-living pressures and broader capital-market volatility. Despite these challenges, investor conviction reached record highs, with the average investment size climbing to $2,183, while diverse founder teams continued to outperform, securing 32% of all funds raised.

Birchal once again led the Australian market, hosting 46 of 63 successful campaigns and facilitating $23.3 million in funding, around 70% of the total market. These results demonstrate the continued strength of Australia’s CSF ecosystem, its expanding reach beyond traditional venture capital, and the growing confidence of investors supporting innovative founders.

This year’s edition also includes perspectives from industry leaders and global voices on the future of equity crowdfunding, providing valuable context for where the industry is heading and the opportunities that lie ahead.

We thank everyone who contributed to this year’s insights and are pleased to share the FY25 report with you.