Important details enabling you to Regenerate NZ from this week ππ³
This blog was distributed to our first 200+ backers via email.
βββ
Kia ora!
We are super excited that THIS IS THE WEEK THAT WE LAUNCH OUR WALLET to enable you to start contributing towards purchasing our first forest.
This email outlines how this will work and once again please poke holes in our methodology, any concerns you have or how we can improve.
TLDR: Wallet info in this email - Keep an eye on your inbox this Wednesday for our Wallet release and how you can start toward regenerating our first forest ππ³
What is the outcome we are collectively seeking?
Purchase our first forest by April 2022
Have $100,000NZD of collective funds ready to deploy by April 2022
What have we achieved to date?
Recruited 200+ (and counting) regenerators whom have signed up for $20
Registered Regenerate NZ Holdings with the companies office
Opened business banking accounts with BNZ
Built wallet functionality for backers to start topping up and creating a weekly habit to buy our first forest
Launching the wallet
Step 1: Read this email and feel free to send us any questions/concerns/feedback
Step 2: Magic link will be personally sent to your inbox this Wednesday at 1pm for you to start topping up your wallet.
Step 3: Feel free to top up your wallet and set your weekly contribution
Step 4: We celebrate and connect with you all over a long overdue Friday Forest Party (this Friday 12th November) and help with any troubles or questions too!
How will the wallet work?
This wallet is a storage place for you to start contributing weekly funds that you are earmarking for investment in our first forest e.g. $20 per week.
We have partnered with Open Collective to enable your wallets to be transparent and easy to top up (more on Open Collective below).
You will be required to create a profile and select your contribution amount on the Regenerate NZ Open Collective page. Think of this as your Regenerate NZ account.
We have enabled contribution via Stripe so you can auto top up weekly via Credit or Debit. Small fee. Stripe fees are 2.9% + $0.3 per transaction so you will see $20 per week via debit is $20.88 at checkout ($0.88 of Stripe fees) etc. $20.88 at checkout = $20 in your wallet.
We have enabled contribution via Direct Deposit. Zero fees. $20 at checkout = $20 in your wallet. This means you can create a recurring weekly bank transfer to your wallet with your unique transaction code. This will be sent to you via email and displayed at the checkout. Please note due to open banking limitations in NZ we will manually reconcile these transactions to your profile once per week (a.k.a. they won't show up instantly on our platform like direct debit).
The Open Collective platform automatically reconciles and updates all balances so you can track your contributions, how we are progressing towards our $100k goal and there's even a leaderboard if you want your profile & wallet to be visible.
At this stage we only have recurring contribution functionality but we will be looking to enable lump sum contributions (coming soon).
The Regenerate NZ wallet is a location for our backers to start collectively working towards purchasing our first forest. Think of it like your Sharesies wallet, a secret savings account or like you are contributing towards a long term crowdfunding campaign.
What is Open Collective?
Open Collective is our amazing partner that gives Regenerate NZ super powers to send, receive, reconcile and enable our legendary backers to have a visible place and piece of mind of their wallet balance.
Open Collective supports innovative new businesses and initiatives with sophisticated technical infrastructure to make the world a better place.
Think of Open Collective as a perfect harmony between Sharesies and Give a Little. Wallet capability with impact.
In our context we are enabling this infrastructure to hit our goal of $100,000 to purchase our first forest by April 2022.
What the wallet is not
The Regenerate NZ wallet is not a direct investment in any investment product.
All investment offers will be made in due course in alignment with Financial Market Conduct Act 2013.
Your wallet is not an interest bearing account and does not generate returns. Funds are held on account in your wallet and all balances in individual wallets are tracked via the Open Collective platform. These funds are non interest bearing. All funds are held locally via our BNZ Business Banking Accounts. These funds are not used elsewhere for any investment capacity. Your wallet. Your funds.
What happens when we hit our target?
Regenerate NZ issues a formal investment offer to all holders with funds in their wallets in accordance with the Financial Market Conduct Act 2013.
All wallet holders will have the opportunity to accept or decline this investment offer.
What happens if I want to withdraw funds or not participate in the investment offer?
We understand circumstances change.
If at any stage you want to withdraw your funds from your wallet due to any un-foreseen circumstances we are more than happy to return 100% of your balance.
Likewise if our first forest is not in alignment with your ambition or we have failed to achieve our goal we will happily return all funds to these wallet holders.
AML/KYC might need to be undertaken in alignment with Financial Market Conducts Act 2013 when withdrawing funds from your wallet. The appropriate information that may be requested at this time may include but not limited to; passport, drivers licence, photo identity, proof of address or other verifiable records.
What are the Regenerate NZ team working on now that we have released the wallet?
Cementing our team of forest advisors, investment leaders and financial modellers. (announcements in within the next 2 weeks)
Finding our first forest to purchase (wohooo time to go shopping)
Creating the legal structure and official investment offering
Our first target
$100,000 NZD should be a great early target for us to collectively purchase our first forest.
What we need from you this week
Give us feedback if any of the above information is unclear or you have questions
Get ready for your magic link being sent to your inbox this Wednesday
Start contributing to your wallet
Feel free to join our Friday Forest party (Zoom link coming) to celebrate the launch of the wallet and starting to collectively work towards our first goal of purchasing our first forest by April 2022.
Get ready to Regenerate!
Kia mΔia,
Jonny & Alex
βββ
This blog was distributed to our first 200+ backers via email.
Want updates like this? Feel free to join Regenerate NZ by signing up today.
