Case Study: Digital health passport technology company successfully completes equity crowdfunding offer via OnMarket
16 December 2020 @ 12:00am Equity Crowdfunding: Case Studies
Key Takeaways
Digital health passport technology company goPassport Australia has successfully completed its equity crowdfunding offer via OnMarket.
The goPassport digital health passport technology was developed in light of the COVID-19 pandemic and the dramatic halt to domestic and international travel. The Company successfully raised $801,421 from 515 investors with industry and media developments generating media and conversation driving investment in the latter stages of the capital raise.
The company reached their minimum of $350,000 in the second week of the public offer which triggered an exponential increase in investment in the final 10 days of the offer. Vaccine announcements from Pfizer and Moderna created significant media and industry discussion around the offer and the restart of international and domestic travel. This, combined with Qantas CEO Alan Joyce saying on A Current Affair that vaccines would be mandatory for customers on his aircraft is likely to have been a big reason behind the $400,000 raised in the final week.
“"What we are looking at is how you can have a vaccination passport, an electronic version of it, that certifies what the vaccine is
- Alan Joyce Qantas CEO
Off the back of the Alan Joyce interview, goPassport received a follow up interview with A Current Affair to discuss their technology, highlighting that they have the solution to manage and track vaccinations for safe international travel. The final 3 days saw over $250,000 of investments from over 200 investors, highlighting the power of the media in an equity crowdfunding campaign.
A quick recap of goPassport Australia
goPassport is an “Industry Recovery and future Management Solution” that will assist in restarting international travel and safely opening up our borders. It is a digital health passport solution that will be needed for a new era of travel. goPassport tackles the dynamic behaviour of the virus through three robust stages, moving the risk offshore, ensuring compliance and monitoring and escalating compromise. By adapting existing and proven technologies, goPassport Australia is being fast-tracked in its development.
In 2019, there were a total of 9.5 million incoming travellers to Australia and approximately 1.4 billion international arrivals. This presents a huge opportunity for goPassport to provide a solution to international travel in Australia and around the world.
The Company is currently partnering in a significant proposal for return student pilot programmes for presentation to Australia’s State Health Officers for the return to Australia studies for 70,000 International Students. They are working with EAE members, ATEC members, Flight Centre, and MD Testing Solutions for the logistics handling of these pilots.
What is next for goPassport Australia?
With goPassport already in discussions with various industry leaders and partners, their next steps involve the completion of their mobile app for the digital health passport and the online portal. This will enable their pilots to get underway, prove the power of the goPassport technology and ultimately restart and manage international travel, safely.
