Expat Balex Marine crowdunding investors buy automatic boat loader from liquidators

Wed, 14 Jun 2017

By Paul McBeth June 15 (BusinessDesk) - Two expat Kiwi businessmen who participated in Balex Marine's $330,000 equity crowdfunding last year have bought the automatic boat loader's assets from the liquidator for an undisclosed sum. Liquidators were appointed to the Tauranga-based company and its sister firm Suelex last month after Balex couldn't find a new funding lifeline when high costs and slow sales had drained its coffers. The boat loader raised $330,000 through 80 investments via equity crowdfunder Snowball Effect in October, just...

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