Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Press Releases
OSC provides update on exempt market review, including its consideration of existing security holder exemption
OSC Press Release | December 4, 2013
Toronto - The Ontario Securities Commission (OSC) announced today that it intends to publish in the first quarter of 2014 the following new capital raising prospectus exemptions for a 90-day public comment period:
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Offering memorandum exemption,
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Family, friends and business associates exemption,
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Existing security holder exemption, and
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Crowdfunding exemption with a registration framework for online funding portals.
“The OSC has a responsibility to consider whether our regulatory framework supports efficient capital formation and contributes to Ontario’s economic growth,” said Howard Wetston, Q.C., Chair and CEO of the OSC. “It is important that our continued work in this area promotes an innovative and competitive exempt market that facilitates capital raising while protecting investors.”
OSC progress report on exempt market review
On August 28, 2013, the OSC published OSC Notice 45-712 Progress Report on Review of Prospectus Exemptions to Facilitate Capital Raising, which sets out the next steps in the OSC’s exempt market review and consideration of these possible new prospectus exemptions.
The objective of this work is to facilitate capital raising for start-ups and small and medium-sized enterprises and to modernize Ontario’s exempt market regulatory regime.
CSA publication regarding existing security holder exemption
On November 21, 2013, the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Yukon, Northwest Territories, Nunavut and Prince Edward Island published for comment a proposed prospectus exemption that would, subject to certain conditions, allow issuers listed on the TSX Venture Exchange (TSX-V) to raise money by distributing securities to their existing security holders.
The proposed exemption would allow TSX-V-listed issuers to distribute securities to existing security holders, relying on their continuous disclosure record, thereby providing issuers with access to an additional source of financing and potentially reducing costs for investors.
The comment period on the CSA proposal closes on January 20, 2014. The OSC supports the CSA proposal and will consider the comments on that proposal in developing its proposed existing security holder exemption, with the goal of substantial harmonization. As part of the OSC’s review, it will consider whether such an exemption should be available to issuers listed on other exchanges. Commenters are asked to share their comments on the CSA proposal with the OSC by submitting them to the following address:
The Secretary
Ontario Securities Commission
20 Queen Street West
22nd Floor
Toronto, Ontario M5H 3S8
Fax: 416-593-2318
Email: comments@osc.gov.on.ca
All comments received will be posted to the OSC website at www.osc.gov.on.ca to improve the transparency of the policy-making process.
Source: OSC Press Release
EquityNet Publishes Report on U.S. Equity Crowdfunding Activity
PR NewsWire | February 14, 2013
Pioneering crowdfunding platform provides industry insights with 6 years of funding activity
FAYETTEVILLE, Ark., Feb. 14, 2013 /PRNewswire-iReach/ -- EquityNet published today a free crowdfunding industry report containing statistics and trends based on U.S. businesses that used EquityNet from 2007 to 2012 to seek equity-based crowdfunding from accredited Reg D investors. Presented in the form of an embeddable infographic, the report presents some of the first statistics available on the original form of equity crowdfunding that involves the use of funding platforms such as EquityNet by accredited investors. It provides insight into how crowdfunding will appear under the deregulating provisions of the U.S. JOBS Act in which millions of non-accredited investors will be able to invest in privately-held businesses.
In introducing the report, Judd Hollas, EquityNet's founder and CEO, said that the crowdfunding industry is hungry for "more data and less rhetoric." "We are in the unique position of having 6 years of granular data from our patented platform and prepared this report to provide a statistical industry perspective for investors, entrepreneurs, policymakers, service providers, and others in the crowdfunding ecosystem. Although some high-level information has been available, the trends and statistics that emerge from this report present valuable new insights into the emerging crowdfunding industry."
Related: Crowdsourcing Equity Crowdfunding FAQ in Canada
View: Summary of Canadian Regulations (as of Oct 2013)
The new report contains business composition statistics and trends for many important attributes and even demonstrates the effects of the recession. For example, the average amount of capital being sought by entrepreneurs has varied greatly since EquityNet launched its platform in 2007. In 2008 the average capital sought was $2.5 million and dropped to an average of $800,000 by 2010. The economic downturn also left its mark on companies' average pre-investment valuation, which fell from $6 million in 2008 down to nearly $3 million by 2010. Both of those metrics strengthened along with the economy by 2012.
Among other statistics presented and analyzed in the report are:
- Consumer and business product/service companies account for over 40% of equity crowdfunding activity. These are industries that were previously underserved by traditional venture capital.
- Around 50% of businesses that use equity crowdfunding seek less than $500,000 in investment capital.
- Valuations vary widely in equity crowdfunding with around 40% of pre-money valuations being under $1,000,000.
- Approximately 70% of businesses seeking equity crowdfunding had no revenue in the previous year, but 75% of those businesses expect to generate revenue in their current fiscal year, indicating that the majority are at the revenue-inflection point.
- 15% of businesses seeking funding are currently profitable, and 90% of the remainder predict that they will be profitable in 3 years or less.
- 30% of the businesses in the sample have patents or patent applications for proprietary technology.
Hollas noted that the sample analyzed for the report involved over 1,000 businesses and emphasized the significance to the industry of the first data-driven report based on 6 years of operation in the equity crowdfunding industry. "We feel that these statistics provide the first-ever information that can be readily extrapolated to represent the entire crowdfunding industry. Our report contains 15 data-packed charts, graphs, and related commentary. We hope that entities in the crowdfunding ecosystem find our report helpful as we approach the anticipated early-2014 date for the SEC to finalize their regulation-making process that will give legs to the Title III of the JOBS Act of 2012."
View: National Canadian Crowdfunding Survey Data Results
EquityNet prepared this crowdfunding report in response to the widespread interest in equity crowdfunding as provided in the Jumpstart Our Business Startups (JOBS) Act that President Obama signed into law in April 2012. The JOBS Act relaxes regulations on fundraising for privately-held businesses and gives online funding platforms like EquityNet more flexibility in facilitating that fundraising. The crowdfunding provisions of the Act are getting the most attention because they will allow entrepreneurs to solicit the general public for investment, an activity that was previously prohibited. Proponents of the Act state that it will directly lead to more businesses starting and to increased employment – and that it will encourage business and technological innovation in the U.S.
EquityNet's Crowdfunding Industry Report can be embedded in any website and is available at www.equitynet.com/blog/us-equity-crowdfunding-activity-infographic
About EquityNet
EquityNet (www.equitynet.com) was launched in 2005 and is the original and only patented equity crowdfunding platform. It is used by thousands of entrepreneurs, angel investors, government entities, business incubators, and other members of the entrepreneurial community to plan, analyze, and capitalize privately-held businesses. EquityNet provides access to 12,000+ individual investors and has helped entrepreneurs across North America raise over $202 million in capital.
Media Contact:
Victoria Coppett, EquityNet LLC, 4794423638, vcoppett@equitynet.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE: EquityNet
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more eBrochure | Prezi or contact us at casano@ncfacanada.org.
Jeremy Bernard of Legend Marketing Joins National Crowdfunding Association of Canada’s Ambassador Program
NCFA Canada | Craig Asano | November 25, 2013
TORONTO, ON Nov 25, 2013 – The National Crowdfunding Association of Canada (NCFA Canada) today announced that Jeremy Bernard, Founder and Owner of Legend Marketing, has joined the Association’s Crowdfunding Ambassadors Program.
NCFA Canada Crowdfunding Ambassadors
Crowdfunding Ambassadors (CFAs) are leaders, educators, supporters and advocates of an inclusive and broad-based crowdfunding industry in communities across Canada. They are circles of influence and ‘go to resources’ for small businesses and investors to connect with, share and learn about crowdfunding via locally hosted events and initiatives. CFAs are specialists and plugged into an international network of shared resources, thought leadership, and industry professionals striving to cultivate and shape the future of crowdfunding in Canada and beyond.
Jeremy Bernard, Founder and Owner, Legend Marketing
Jeremy Bernard, Founder and Owner of Legend Marketing, serves as a strategic advisor to small businesses, technology startups and national sports organizations. His areas of expertise include strategy, communications and online marketing. Jeremy has an MBA from Saint Mary's University and resides in Canmore, Alberta.
"As an entrepreneur, I understand how hard it can be to raise risk capital outside of friends and family. With crowdfunding, I see a real opportunity for inventors, artists and others to not only raise funds but to build an important base of early adopters and advocates on an international scale. As an NCFA Ambassador, I look forward to helping entrepreneurs explore crowdfunding as a path to success". – Jeremy Bernard, Founder and Owner, Legend Marketing.
Jeremy is a strong advocate for crowdfunding, having delivered presentations on the topic to several organizations. He has also worked with entrepreneurs to assess crowdfunding suitability and readiness. We look forward to Jeremy’s contributions to our expanding Ambassadors program.” -- Craig Asano, Founder and Executive Director, NCFA Canada.
Related: View Canadian Crowdfunding Ambassadors
Source: National Crowdfunding Association of Canada
For more information please contact:
Media Contact
Craig Asano
NCFA Canada
Executive Director
p. (416) 618-0254
e. casano@ncfacanada.org
# # #
About NCFA Canada:
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more eBrochure | Prezi or contact us at casano@ncfacanada.org.
About Legend Marketing:
Legend Marketing provides strategic planning, communications and online marketing services to small businesses, technology startups and a wide range of other organizations. The company also delivers presentations, workshops and training on marketing topics, including crowdfunding. By putting strategy first, Legend Marketing delivers measurable results for its clients. For more information, visit www.legendmarketing.ca.
Eating Its Own Caviar, UK Equity Crowdfunding Platform Seedrs To Crowd-Raise £500K As It Expands To Europe
TechCrunch | Steve O'Hear | November 25, 2013
It doesn’t get much more meta than this. Seedrs, the UK equity-based crowdfunding platform, is listing itself on its site in a bid to crowd-raise £500,000 for international expansion.
Armchair investors who put in for a slice of the action will in total get a 8.81 percent stake. This gives the 2009-founded company a pre-money valuation of £5.175 million.
At the same time, Seedrs is announcing that it’s opening up to European investors and startups beyond the UK, giving rise to the claim of being the first “cross-border” equity crowdfunding platform.
“National boundaries become artificial when you move online, and the notion that a Brit should only be able to invest in British startups, a German in German startups and an Estonian in Estonian startups seems silly,” says Seedrs co-founder and CEO Jeff Lynn.
“Our goal is to open startup investing as widely as we can, and a key part of that is about exposing investors to dealflow wherever it’s located, and giving startups access to capital wherever it’s located”.
However, Lynn concedes that equity-based crowdfunding platforms like Seedrs rely heavily on ‘network effects’. The deeper the pool of investors attracted to the platform, the more value that is created for entrepreneurs. Conversely, the more dealflow provided by Seedrs, the more value it creates for investors.
“We’re very much a network effects-driven business, and while the costs of expanding to some regions might outweigh the benefits of the expanded network, our starting position is to say that we want to be open to as many people as possible.
Related: OSC Announces Next Steps in Exempt Market Review
“In terms of timing, we wanted to do this expansion as soon as we felt we had proven the model well enough in the UK, and gained enough of an international reputation, that we would be well-received as we moved into further countries. We feel we have now achieved that.”
Since launching in July 2012, Seedrs has seen 49 deals struck, totalling £2.5 million in funding. From there, it’s not hard to gauge the company’s own revenues. It charges 7.5% in fees for each successful raise on its platform, as well as the same again on any (future) profits made by investors, such as via an exit or dividends.
I’m also told this amounts to 80% quarter-on-quarter revenue growth against 6% quarter-on-quarter cost growth, though without breaking out the raw numbers in terms of burn-rate, that’s fairly opaque.
So, why then turn to the crowd to fund its international expansion, not least considering the startup is already VC-backed. In early 2012 it raised a £1 million seed round from DFJ Esprit, Digital Prophets (backed by Luke Johnson and managed by the investors behind 1seed) and a number of unnamed angel investors.
“We’re raising on our own platform because we think it’s a good commercial and marketing decision,” says Lynn, adding that it would look “strange” for Seedrs to promote democratised investing but then “run off, raise our money from institutions and cut out our customers”.
Continue for the full article --> here
Travis Southin Joins National Crowdfunding Association of Canada’s Ambassadors Program
NCFA Canada | Craig Asano | Nov 12, 2013
TORONTO, ON Nov 11, 2013 – The National Crowdfunding Association of Canada (NCFA Canada) today announced that Travis Southin has joined the Association’s Crowdfunding Ambassadors Program.
NCFA Canada Crowdfunding Ambassadors
Crowdfunding Ambassadors (CFAs) are leaders, educators, supporters and advocates of an inclusive and broad-based crowdfunding industry in communities across Canada. They are circles of influence and ‘go to resources’ for small businesses and investors to connect with, share and learn about crowdfunding via locally hosted events and initiatives. CFAs are specialists and plugged into an international network of shared resources, thought leadership, and industry professionals striving to cultivate and shape the future of crowdfunding in Canada and beyond.
"Travis Southin brings great insight and experience into his crowdfunding research. His work will continue to appropriately inform crowdfunding investors and other stakeholders about risks and rewards in crowdfunding", stated Doug Cumming, Research and Innovation Advisor of the National Crowdfunding Association of Canada.
Travis Southin - Research Ambassador
Travis Southin (@TravisSouthin) is a researcher specializing in crowdfunding and crowdsourcing. Travis received his Honours Bachelor of Arts in Law, with a concentration in Business Law and a minor in Political Science, from Carleton University in 2013. He is interested in applications of crowdfunding and crowdsourcing that have the potential to achieve progress on societal issues in partnership or in parallel with government initiatives. His latest paper details the fundraising potential of charitable crowdfunding in Canada as well as explores what policy changes could facilitate it.
“I am honoured to join the Association’s Ambassadors program in a research capacity, and look forward to accessing the vast knowledge network that NCFA Canada provides. My research aims to explore how the practical applications of crowdfunding and crowdsourcing can advance humankind’s common will for a better world. In particular, I hope my research can play a significant role in helping the public, government and the business community better understand and unleash the potential for social good that crowdfunding represents.”
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more eBrochure | Prezi or contact us at casano@ncfacanada.org.
Source: NCFA Canada
For more information please contact:
Media Contact
Craig Asano
NCFA Canada
Executive Director
p. (416) 618-0254
e. casano@ncfacanada.org
Milan Vrekic of Volta Labs Joins National Crowdfunding Association of Canada’s Ambassador Program
NCFA Canada | Craig Asano | Nov 8, 2013
TORONTO, ON, and HALIFAX, NS Nov 8, 2013 – The National Crowdfunding Association of Canada (NCFA Canada) today announced that Milan Vrekic, Executive Director of Volta Labs, has joined the Association’s Crowdfunding Ambassadors Program.
NCFA Canada Crowdfunding Ambassadors
Crowdfunding Ambassadors (CFAs) are leaders, educators, supporters and advocates of an inclusive and broad-based crowdfunding industry in communities across Canada. They are circles of influence and ‘go to resources’ for small businesses and investors to connect with, share and learn about crowdfunding via locally hosted events and initiatives. CFAs are specialists and plugged into an international network of shared resources, thought leadership, and industry professionals striving to cultivate and shape the future of crowdfunding in Canada and beyond.
Incubators-accelerator communities across Canada provide a key role in the development, mentorship and growth of startups and entrepreneurs as they launch, incubate and accelerate through their journey to become Canada’s next great success story. “We are excited to be partnering with Milan at Volta Labs who brings a ton of startup expertise and strong connections out East further strengthening Canada’s largest crowdfunding network.” – Craig Asano, Executive Director, National Crowdfunding Association of Canada.
Milan Vrekic - Volta Labs
Milan has been an entrepreneur and startup evangelist for several years. He is a Co-Founder and former CEO of TitanFile, a document-sharing and collaboration software company based in Halifax and Waterloo, Ont. Previously he was the owner of Mojo Labs Co. He also brought DemoCamp to Halifax from Toronto to provide a forum that allows young companies from around Atlantic Canada to present their products. He is also a Policy Adviser to the Dalhousie University Faculty of Computer Science and the Entrepreneur in Residence at the Centre for Entrepreneurship Education and Development.
Milan was named one of the 20 winners of the 2012 FuEL Awards, which recognize Canada’s Future Entrepreneurial Leaders. TitanFile under his leadership was named: runner-up in the 2012 Alpha Exchange Innovation Campaign Live Pitch-Off Competition; one of the Top 25 Canadian Up and Coming ICT companies by the Branham300; a finalist for the 2012 Manning Innovation Award; winner of the Canada-U.S. Innovation Award; and a Cloudy Award in the category of People’s Choice: Best Cloud Newcomer, presented at SXSW.
“Crowdfunding is one of the most powerful Economic ideas in the last 25 years and it has a huge potential to change our macro and micro Economy for the better in a very short time span compared to some other ideas. We should be proactive and seize this opportunity.” – Milan, Volta Labs
Related: View Canadian Crowdfunding Ambassadors
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more eBrochure | Prezi or contact us at casano@ncfacanada.org.
Source: NCFA Canada
For more information please contact:
Media Contact
Craig Asano
NCFA Canada
Executive Director
p. (416) 618-0254
e. casano@ncfacanada.org
Finanso, a new Quebec center for crowdfunding
Finanso | Perry Niro | Nov 7, 2013
MONTREAL, Nov. 6, 2013 /CNW Telbec/ - As part of the forthcoming Canadian Crowdfunding Summit, it announced the launch of FINANSO (www.finanso.ca), a Quebec center of crowdfunding.
Finanso is a non profit organization that aims to support the achievement of economic, social and community projects through the use of crowdsourcing and crowdfunding web solutions.
Related: Canadian Crowdfunding Directory
" Web 2.0 disrupts business models and now enables a greater number of people to invest in projects around their interests and values. It is also an approach to corporate finance and real estate group buying , "said Perry Niro, the founding president of FINANSO .
Through its platform philantrop (www.philantrop.org) , FINANSO offers a web customizable crowdfunding solution for foundations, social economy organizations, community groups, schools and municipalities.
Moreover, Finanso also advises project developers to prepare their campaigns and build a supportive community in Canada, the United States and Europe. "The arrival of Kickstarter in Canada is a great funding opportunity for entrepreneurs, ideators, inventors and creative , but requires careful planning for success " said Mr. Niro
Equity Crowdfunding, a new avenue for SMEs to raise capital
Finanso will also provide a support service for entrepreneurs seeking equity financing in the United States and abroad. According to Perry Niro " the Securities and Exchange Commission of the United States changes its regulations to allow equity crowdfunding for non-accredited investors, that is to say, make it possible to take stakes in companies even crowdfunding platforms without going through the expensive IPO. We believe that Quebec companies could benefit from this pool of investors waiting for a similar change by the AMF in Quebec. "
On November 21 in Montreal, FINANSO is organizing a major conference on this theme with American, European and Canadian experts.
Source: Finanso
