Less than 20 hours after launching the first public equity crowdfunding campaign in Canada, Montreal’s Ubios has surpassed its 100 000$ goal. It was 105 250$ as of 10 pm January 25th. Those investments were made by over a hundred non-qualified investors with an average investment close to 1000$. Ubios is now looking to reach the 250 000$ ceiling with a campaign ending on March 25th. In accordance with the Autorité des marchés financiers’ regulations, all investment documents are to be accessed solely through GoTroo’s platform.
This result is giving public equity crowdfunding a great momentum as a way to finance and develop startups in Québec and Canada. Ubios now has over a hundred new financial partners, a great asset an SMB cannot find through traditional crowdfunding. Many other will join them until March 25th.
Ubios is dedicated to the smart water damage prevention through a simple modular smart home solution. This capital inflow will allow the company to keep going in the development and marketing of its solutions. The main clientele of Ubios – condo associations and real estate management – is awaiting impatiently the company’s solution, as evidenced by the numerous letters of intent collected in the recent months. They represent over 16 000 condos units in the Greater Montreal area. Ubios’s solution can scale and be used across Canada. The rising numbers of tower apartments provide Ubios with a bright future. Crowdinvestors clearly went the potential risks and understood the long-term value of investing in a startup. Since launching in July 2014, 7 jobs were created and an investor – Québecor – has since joined the company.
This campaign is allowed under a new set of rules released by the AMF in 2015. This is a first in North America and, we hope, not the last of its kind either. It was made possible through the support of many partners, especially Montreal law firm Yulex Avocats et stratèges, who masterfully set the complex legal framework surrounding this type of activities.