StartEngine, one of the largest investment crowdfunding platforms in the US, is nearing its $5 million self crowdfunding goal standing at over $4.7 million. The Reg A+ offering was filed with the Securities and Exchange Commission last September and soon after went live on their site. Today, more than 3300 investors have signed up to invest in the firm at a pre-money valuation of $65 million.
A few days ago, Howard Marks, CEO of StartEngine, posted the following statement;
The StartEngine offering is over 95% funded! We owe much of our success to you and your support. With less than $300K left in this offering, the window for new investments is closing. If you haven’t made or completed an investment, then choose to get involved before it’s too late.
In 2018, we’re shifting into high gear, with many exciting developments on the horizon. Become an investor into StartEngine as we continue to disrupt finance by democratizing access to capital.
StartEngine is a Full Stack platform offering the three different securities exemptions that enable online capital formation. These include Reg CF, Reg A+ and Reg D. Under Reg CF, an issuer may raise up to $1.07 million. Under Reg A+, an issuer may raise $50 million and using Reg D enables an unlimited amount of funds to be raised.
StartEngine has revealed its intent to become an Alternative Trading System (ATS), thus allowing for secondary transactions in securities. To become an ATS, you must be a FINRA approved Broker Dealer first.
StartEngine has also moved into the initial coin offering (ICO) space. In fact, StartEngine listed the first Reg CF offering for a tokenized security.
So what will StartEngine do with the new funds?
You may read all about it on their campaign page here but, in brief, its all about promotion and spreading the world. It is still early days when it comes to investment crowdfunding in the US.
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