Roozt.com, a popular social commerce platform for social good, which has become a destination shopping site for fashion-forward, Gen Y consumers, has opened an equity fundraising round for accredited investors via investment crowdfunding platform, Crowdfunder.
The announcement comes in the wake of Title II of the JOBS Act, which came into effect in September and has lifted the 80-year ban on General Solicitation for U.S.-based private companies, making it legal for startups and small businesses to speak openly about raising investment capital. After reaching seven figures in sales through its online platform, Roozt is raising $750,000 in capital for growth and expansion, and is an example of how investment is being democratized and brought online for participation from local startup investors and larger venture funds alike. Their public equity crowdfunding campaign uses the Crowdfunder platform for online collaboration among the company and the various angel investors from LA, NY, Silicon Valley, and beyond, who have already invested in Roozt.
Roozt is a social commerce platform to discover the most fashion forward indie brands on the web and is part storefront, wish list, community, and charity fundraiser. Roozt is experienced through Movements — a user generated collection of products that express its creator’s unique style, passions, inspirations, and aspirations while benefiting a cause of their choice. Roozt is partnered with industry leading non-profits like Feeding America, Invisible Children, and Stupid Cancer to help raise funds and awareness around their causes through an engaging social shopping experience. All Roozt Movements are shoppable, shareable, and discoverable by the world and donate $1 to a non-profit partner with every purchase.
Gen Y spends over $200 billion every year and Roozt is harnessing this spending power to create a win-win shopping experience — one where you get cool products while making the world a better place. To date, Roozt has already donated over 200,000 meals to Feeding America from purchases made on its site.
Existing investors of Roozt include Steve Schimmel, early Netscaper and 13th Employee at Google; Sharon Chang, Founder & CEO at Yoxi; Jonathan Carson, President at Skywell; Ryan Scott, Founder & CEO at CAUSECAST, among others.
“The Crowdfunder platform, given its network of both tech startup investors and impact investors, is the right fit for attracting value-aligned investors to Roozt’s current raise,” said Brent Freeman, Founder & CEO of Roozt.
Says Chance Barnett, CEO of Crowdfunder, “The center of the tech investment world used to be Silicon Valley. Now, with investment crowdfunding at Crowdfunder.com, early stage entrepreneurship and investing is being opened up and democratized online. The Los Angeles tech community is growing rapidly, and Crowdfunder has already been bringing investment capital from all over to startups in LA and cities across the U.S., for many months.” Barnett added, “Bringing investor relationships and capital to LA companies is aligned with our larger mission of accelerating our local startup community through crowdfunded capital, while also empowering other local communities across the U.S. and Mexico to support and invest in themselves.”
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