CommunityLeader has ceased operations. The “private labeled software and service solution for the solicitation, sale, and support to private securities” has posted a notice on their website stating:
CommunityLeader has ceased operations. There are no future plans for the use of the site at this time.
CommunityLeader was an early entrant into the white label crowdfunding platform sector providing a service to sell both debt and equity online. CEO Joseph Borisonzi, and Chief Compliance Officer Richard Weintraub, were regular suspects on the crowdfunding and Fintech circuit for several years. The highly competitive sector has become more selective in recent years as several platforms have exited the space.
A person with information regarding the CommunityLeader closure said the closure was due to funding issues. The individual also said an announcement from the executive team would be forthcoming – including the possibility of a new company to offer crowdfunding services.
