One of Australia’s leading prescribers of medical cannabis, which experienced a ten fold increase in business over the past year, has broken equity crowdfunding records.
Montu became Australia’s largest total ever and second fastest of all time crowd funding.
Montu’s share offer went live via the Birchal crowdfunding platform and was immediately met by keen investors who exhausted the maximum before the public offer round.
Montu experiences record breaking investor interest
Due to previous successful raises totaling a whopping $5.5 million, Montu now holds the record as the most amount of funds raised through crowdfunding in Australia.
Montu hit its target of $3.5m in 1 day thus, the second largest single raise in Australia.
Investors rallied behind Montu early on and raised the first million dollars in 13 minutes, even crashing the Birchal website and surpassing its previous record breaking raise in 2020.
Montu’s record breaking run
- Most amount of funds raised under the CSF regime of all time in Australia at $5.5m
- Second largest individual raise in Australian history at $3.5m
- Second fastest in Australian history to reach $1m (13 minutes)
- Second fastest in Australian history to reach $2m (6 hours)
- Montu’s CSF raise in 2020 was the fastest ever to reach $1m (36 hours), and was the fastest to reach $2m (13 days). 12 months later and people are keener than ever.
- Montu hit its $3.5million target in 43 hours
Comments on Montu’s record breaking crowdfunding
Christopher Strauch, the Managing Director of Montu expressed astonishment.
“What a difference a year makes! Our investors have extremely gotten behind us once again, as we are continuously breaking more records than we did in our 2020 crowdfunding raise.”
“Our early investors have seen their shares grow five fold in the past year and thus, we are thrilled to further expand our investor base and continue to deliver strong results.”
“Our stellar growth during the last year has been achieved through building a recognised and leading brand that is setting the standard in the medical cannabis care sector.”
“To have raised a total of $5.5m in both crowdfunding raises and breaking Australian records is a testament to both the success and growth of our company over the past year.”
“The business has grown exponentially by over 1,000% and reached a $14million revenue run-rate. This has solidified investors’ confidence in Montu and the future growth to come.”
Birchal applauds Montu’s success
“Montu has achieved a truly stunning result, again,” said Matt Vitale, Birchal Co-Founder.
“We are extremely thrilled to have hosted these two wildly successful offers for Montu now, with each hitting its maximum target in just days, which is no mean feat!”
“CSF is facilitating a movement of investors shaping a future we all want to see.”
“Unsurprisingly, medicinal cannabis businesses have continued to perform well in crowd funding because they are typically driven by patients at a grass roots level (no pun intended).”
“With such impressive growth in the company’s business and outlook, we are therefore extremely excited by what’s ahead for Montu and its thousands of investors.”
Montu is set to lead the medical cannabis market
Montu is currently the industry’s benchmark for easy medical cannabis access in Australia because the company is facilitating a seamless patient journey from end-to-end.
The company’s integrated platform helps to provide patients with immediate access to highly qualified medical practitioners for prescriptions in the comfort of their home.
In a market where only 5% of doctors prescribe cannabis, the increased adoption of telehealth, home-delivery of medications and electronic scripts, has boosted Montu’s growth.
“Telehealth has become an important game changer for the many Australians who are suffering from conditions that can be treated with medical cannabis,” said Strauch.
“Prior to telehealth, our company was already a pioneer in helping patients gain easy access through a nationwide network of doctors that could service half a million Australians.”
“With telehealth, we are now able to service every Australian,” added Christopher Strauch.
Montu embraces technology for their growth
Montu has built an integrated cannabis ecosystem which connects more than 15,000 Australians annually to highly qualified doctors via their alternaleaf telehealth platform.
With a patient care team of trained nurses, patients are guided throughout the process, from online booking, to tele-consultation, product selection and medication dispensing.
“Before Montu, it was hard for patients to speak to a doctor about medical cannabis. Stigma was a big problem and, as you would expect, doctor’s experience was limited.”
“We have trained over 1,000 Australian doctors on medical cannabis, and provided them with education and support. This has seen doctors become more confident prescribers.”
“Currently, our team of doctors are some of the most experienced in prescribing medical cannabis in the country and in turn we have given them the infrastructure to shine.”
“Their wealth of real-life patient experience will benefit those who want the very best advice.”
“We manage the medical cannabis supply chain vertically from doctor education, clinical care, product supply and distribution, to dispensing of medication to patients.”
The approach has allowed Montu to give patients a holistic and streamlined end-to-end experience and build a loyal client base that helps to recommend their solution.
Ultimately, patients seem to genuinely appreciate the service with over five hundred 5-star ratings, and thus alternaleaf is seen as the most and best rated cannabis platform in Australia.
Proceeds from this equity crowdfunding raise will be used to solidify the company’s leading position, further invest in its technological infrastructure and grow patient awareness.
The medical cannabis industry in Australia and New Zealand are in its transformational stage and it is therefore predicted to reach a $1.7 billion market value by 2023.
“Montu’s growth trajectory is massive as revenue grew above 250% in the last quarter alone.”
“Therefore, we are the fastest growing medical cannabis company in Australia and we have successfully leveraged and deployed a highly scalable business model for Montu.”
“The cannabis market is evolving at a rapid pace because of the improvements that are seen in patient awareness, an improving cannabis regulatory environment in addition to the increasing real-world evidence of patients that have benefited from harnessing medical cannabis.”
“We are already managing 15,000 patient consultations annually and prescribe 50,000 units of medical cannabis but that is just scratching the surface of Australia’s potential.”