XY Findables initiated a Reg A+ offer on StartEngine last year. The company was seeking a raise of $10 million to finance their company in the highly competitive wearable findable device space. XY Findables struggled to raise money online and decided that, after 12 months, it was unable to attract sufficient investors. XY Findables is now directly raising capital on their own website.
Under Reg A+, there is no requirement to utilize a crowdfunding platform nor broker-dealer. In fact, one of the most successful Reg A+ offers (for an early stage company), all of the funding was solicited directly on their own website. VidAngels raised $5 million in under two days using Reg A+. The company went on to raise $10 million from a sizable group of investors before a lawsuit shut the company down. XY Findables reports that since managing their own campaign the company has seen a “five-fold increase of investors.”
CEO Arie Trouw said it was a natural for XY Findables to continue its growth with a direct Regulation A+ offering and web-portal upgrade.
“We are one of the first companies to directly manage a Regulation A+ campaign. Bringing our equity crowdfunding in-house allows us to speak directly to our user-investors. No one can give us better feedback or support. This is the future for consumer-facing companies: the democratization of investment.”
While soliciting investments on your own website is an option – it is not necessarily easy. Reg A+ is still a regulated securities offer and issuers must comply with the rules of the exemption. Partnering with a portal can help streamline the funding process but, as always, there are never any guarantees.
If you are interested in more information regarding the XY Findables offer you may view the pitch page here. XY Findables has not yet posted the total tally of committed investors.
The Offering Circular, the document that explains all the risks and the offer structure, may be viewed here.
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