The Mosaic equity crowdfunding currently taking place on the Equitise platform has just completed its first week. With over $20,000 in initial funding it is well on the way to reaching its minimum investment of $400,000. Full details are available on the Equitise website:
'We're excited with the amount of interest in the marketplace,' says Murray Lilley a major shareholder and one of the founders of the company. 'With international interest for both investment and licensing our technology platform this is generating a lot of good opportunities for us.'
Mosaic had early requests for its policy documents and has been quick to respond. Chief Marketing Officer and founder Andy Baird says "We had individuals asking for our policy document to be available online, it is quite common to not have it available before purchase with half of insurers in New Zealand not having policy documents available online, however we responded quickly to make it available inside 72 hours."
Baird says this is one of the key differentiators between Mosaic and their competition; their ability to respond quickly and adapt. "We know 18 to 35 year olds expect you to listen and respond to their requests, this is why we're launching with a strong social media presence on Facebook to make sure we're actively listening and responding to what they want. The balance of power has shifted and consumers now have much more power and companies that don't adapt to listening and responding to consumers will struggle to get traction."
Consumer interest and signups have been positive with a more than 200% increase in policies in October which is their second month with the product available after launching in August.
Mosaic is initially targeting consumers in the 18-35 age group with a combination product called 'Volo Lifestyle Cover', including elements of Life, Trauma, Total Permanent Disability and others it is a simple solution for this age group to protect itself. This advanced group scheme combined with a simple and easy interface that can be used from a PC or a mobile allows this age group to get insured quickly and easily.
Interest is also coming from the 35+ age group with consumers and investors both asking when a follow on product will be available, this product is currently scheduled for 2016.
Mosaic has a pre-investment valuation of $4 million and is looking to raise between $400,000 and $1 million through new share releases equating to up to 20.1% of the company. Insurance and Finance Services contribute around 7% of GDP for New Zealand, as with other non-manufacturing services it has been a growing industry since the 1970's.
Equitise, the equity crowdfunding platform being used, was founded to make it easier for kiwis to invest in serious New Zealand and Australian business opportunities. The company was authorised to offer equity investments to the New Zealand public through their unique equitise.co.nz cloud platform, by the FMA, at the end of December 2014. Full details on the equity crowdfunding and Equitise are available on their website:
For more information contact:
Mosaic Enterprises Limited
0800 85 56 63