Unhedged has attracted close to 1,800 EOIs and amassed a waitlist of more than 4,500 people wanting to access the platform.

“We’re one of the hottest companies on Birchal’s platform right now. We anticipated the raise to move quickly, so we were thrilled to reach our minimum funding of $350,000 inside of 45 minutes. We look forward to our investors joining us on this journey,” Co-Founder Peter Bakker says.

The EOI opened as a private offer to those that had already expressed interest at 10:00am Wednesday, 16 June, and reached the $1 million mark in six hours.

Bakker had been confident he would reach their minimum funding goal but admits that the result has exceeded his expectations. “Based on the numbers so far, engagement is very high, meaning market interest is far stronger than we anticipated.

“While we expected to be funded via Birchal, because we knew there would be strong interest in our offering as there’s nothing else like it on the market, we didn’t expect such an overwhelming response. To be funded inside of 45 minutes and to then pass the $1 million mark in six hours has been incredible.

“This result indicates the huge need in the market for a simple way for everyday Australians to invest their money, but not their time, into letting the algorithms do the heavy lifting for them,” Bakker says.

From 2pm, Friday 18 June, the public is able to invest in the company via Birchal’s platform.