China's tech industry is making the impossible Pozible

Many foreign tech firms have failed in their attempts to crack the Chinese market, but one Australian start-up is hoping to buck that trend.

Crowdfunding — a way of raising money over the internet from multiple individuals — first started gaining serious traction in the wake of the 2008 global financial crisis when lines of credit from the banks dried up for all but the biggest and safest clients.

Since then, the industry has grown from being a $530 million industry in 2009 to almost $2.7 billion in 2012, according to a study by Massolution, a research company that specialises in crowdfunding businesses.

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