When the campaign closed, the company surpassed its minimum goal, securing more than $675,000.
This latest funding round comes after Shebah received $3 million in crowdfunding in March, breaking the crowdfunding record previously held by neobank Xinja at $2.6 million. During its first launch, the company had 95% women investors.
CEO Georgina McEncroe told Business Insider Australia this second crowdfunding raise gave Shebah drivers an opportunity to be a part of the company if they had missed out on the first round.
"In the first round, we'd always wanted to make our drivers shareholders because it was very important to us," she said.
"We wanted our drivers to stay with us – they really built this company up. We started with very little in the way of capital and it was the drivers who made their own t-shirts and walked to the local schools and put things in newsletters. They are really passionate about it and I really wanted them to have the option of becoming a shareholder.
"When we did the first raise, we had all these new drivers and I didn't want them to miss out. A lot of people had missed out on the first raise which I just couldn't believe given I felt like we banged on about it so much."
McEncroe said the money will be used to develop the platform's technology, as well as for staff and marketing.
"A lot of our technology is about making the onboarding of drivers easier [and] refining the driver portal and that all comes back to meeting the supply and demand," she said.
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