September 26th, 2018
There are Now 29 FINRA Regulated Reg CF Crowdfunding Portals
CrowdfundInsider | By
The number of FINRA approved and regulated crowdfunding portals has been inching higher. Today, there are 29 different Reg CF crowdfunding platforms each targeting the new securities exemption created under the JOBS Act 0f 2012. At the beginning of 2017, that number stood at 22 approved Reg CF platforms with a single entity, Ufundingportal losing it license after FINRA took action after it determined there was significant potential for fraud emanating from the site.
About a year ago, there was less than have this number so interest in launching a Reg CF platform has remained fairly robust.
Some interesting new additions to the list include “Good Capital Ventures” based in Massillon, Ohio. According to the SEC filing, Good Capital Ventures was founded by Justin Jeffrey Gantz who is an architect by education. The site is apparently not yet live.
EquityBender, based in Newport Beach, California, is another new platform. Their website indicates their team has experience in raising more than $250 million for early stage and growth companies in the past years.
Sprowtt Crowdfunding in Tampa, Florida, was founded by Mark Robert Jones. Affiliated with Sprowtt Services, Jones is said to have been “asked to actively participate in crafting the JOBS Act, including the equity crowdfunding laws and regulations.”
Title3Funds, operated by Fundivations, is another new addition. Based in Irving, California, this platform was founded by Ronald Hirsch.
To date, over $36.6 million has been successfully raised for Reg CF issuers. The top four platforms lead the way:
- Wefunder – $20.4 million
- StartEngine – $7.9 million
- Indiegogo (Microventures) – $3.2 million
- NextSeed – $2.8 million
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1500+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at ncfacanada.org.