Recently, Crowdfund Insider reported that a Vantiv, a credit card processor, had stepped up to the plate to facilitate payments in purchasing crowdfunded securities. Vantiv was the first company to enter the emerging sector of finance. The hesitancy was due to the newness of crowdfunding and the risk of chargebacks.
This week, we learned that Republic, a Reg CF platform, would start accepting credit cards from all investors. We reached out to Kendrick Nguyen, CEO of Republic, for commentary on this new feature. Nguyen explained;
“Our effort to facilitate credit card transactions was a response to overwhelming interest from potential investors in the past year. We’re proud to help move the equity crowdfunding industry forward with this innovation, in partnership with Stripe and Fund America. We’re quite selective in approving applications to fundraise on Republic.”
Nguyen then shared some insight into the success of the Republic platform and it was pretty impressive;
“In fact, [we are] more selective than Stanford and Harvard’s admission rate. The upside of our intense screening process is that 100% of offerings on Republic successfully closed to date. As VCs and corporate lawyers warm up to Reg CF, we expect exponential growth in 2017-2018 for Republic as well as for the entire industry,” said Nguyen.
Predicting exponential growth while experiencing 100% success in funding is a pretty strong affirmation of the Republic process. If momentum holds, it appears that Republic will have a very solid year of crowdfunding.