Shebah, an Australian women-only ride-sharing startup has successfully smashed its target of raising $3 million over its month-long campaign. With this event, it has broken the record for the most amount raised under Australia’s new equity-crowdfunding regime. Women in action. Slaying, right?

McEncroe says, “Just stoked, delighted beyond words. I’m so relieved and amazed, and I feel really supported, and also a bit daunted. I’ve got pressure now from investors, and I’m aware of their commitments and expectations, and I take that responsibility very seriously.”

She further adds, “I’ve bootstrapped for so long, so to have a force and endorsement from so many people is not just a shot in the arm in terms of capital, its confidence that what we’re doing is valuable. I don’t want to disappoint anyone, so we’ll be working bloody hard to make sure we deliver.”

Highlights of the crowdfunding campaign

– The campaign: Shebah is putting the ‘share’ in rideshare, was backed by 2,100 awesome investors, with 94% of them being women.

– Shebah’s campaign broke the record of local neobank up-and-comer Xinja which raised  $2.6 million.

Matt Vitale, co-founder of Birchal that facilitates equity crowdfunding in Australia said, “We’re so thrilled that Shebah now holds this record. Shebah’s founder George McEncroe and her team are brilliant ambassadors, and a perfect case study for what is possible under the equity-crowdfunding regime in Australia now.”

McEncroe did it and so can you.

McEncroe says, “I was hoping we’d hit the $3 million mark, but I didn’t dare say it out loud. I have so much thanks for everyone who believed in our vision.”

Sources: 

Women-only ride-sharing startup Shebah bags $3 million in biggest-ever equity-crowdfunding raise

Main Image: ©Shebah/This Women Can

The post Shebah, Women’s Only Ride-Sharing Startup Proves Its Mettle, Bags $3 Mn In Biggest-Ever Equity-Crowdfunding Raise appeared first on Desiredwings.

George then decided to launch a $3 million equity crowdfunding campaign to boost Shebah’s tech and fuel overseas expansion. Shebah, a women’s only ride-sharing Australian startup was launched in 2017 and have seen 190% year-on-year growth in its user base, turning over $1.8 million in 2018 since then.

Shebah founder and chief executive George McEncroe.
©Changing the ratio

“The startup’s drivers and passengers are the backbone of the company, especially those that came on board early,” George at StartupSmart
George says “I want to see our drivers and our passengers who stood by us enjoying the fruits of our labour. It would be interesting and fabulous to see them being able to grow with us and enjoy being shareholders too.

The journey to being an entrepreneur is not all sunshine and roses. George says, “I experienced a fair bit of frustration from standard investment groups. ” Perhaps from those who couldn’t see a need for such services.

George learned that It can be difficult for men to connect to the startup on an emotional level.

“For an instance when we pitch, we have to explain what it’s like to sit in the back seat all the time,” says George.

She further added, “A lot of men don’t want to consider that their female counterparts experience anything less than equality. It can hit a bit of a chord. It’s not a pleasant acknowledgement that there’s a need for this service.”

Funding allocation:

©Shebah/Google Play

McEncroe says,  “We have two big, hungry beasts that need to be fed all the time — the tech and the marketing.

Shebah is planning into adding multiple options for child passengers where parents can specify the height,age and size of a child. This shall ultimately help save drivers and passengers time from discussing these logistical points on the phone.

“A way for users to request special assistance requirements, so we can do a really good job of caring for that person is under planning as well”, says McEncroe.

She adds, “The plan is to “build great technology and then scream about it across the world”.

“Shebah plans to expand internationally, into any country where women feel scared after dark”.

Shebah is expected to go live in New Zealand and in Malaysia by the second half of 2019, seeing the significant demand in these countries.

George McEncroe’s Mantra For Female Startup Founders

©Shebah

McEncroe believes that other female startup founders should keep plugging away, to find other female founders to connect with.
She says, “You don’t have to know everything, you can ask other people. It’s okay to feel like you’re not doing very well.”

McEncroe says there will always be naysayers telling you that you should have done things in a different way. It can be good to ask those people how many businesses they’ve started themselves.

“If the answer is none, finish your drink, go to the bathroom and catch up on some light reading, but don’t listen to them,” she advises.

McEncroe says. If you’re invested in your vision, “you take it really personally, and you worry about letting people down.”.

“But it also helps you see clearly when something is not right for you. So there’s an upside too.”

Main Image: ©Shebah/smartcompany

Sources:

Women’s ride-sharing startup Shebah embarks on $3 million equity crowdfunding campaign, after male VCs failed to get on board – SmartCompany

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The post Shebah-Women’s Only Ride-Sharing Startup Is All Set To Launch A $3 Mn Equity Crowdfunding Campaign appeared first on Desiredwings.