Common Owner is the newest FINRA regulated funding portal, according to a note from the crowdfunding platform. Common Owner says that after a long vetting process, they were recently approved to offer securities under Reg CF [Regulation Crowdfunding]. Common Owner joins more than 50 funding portals in this sector of finance seeking to provide access to capital for smaller firms. Common Owner notes that it is the only company in the state of New York, outside of New York City, that may offer securities under Reg CF (the company is based in Buffalo, New York).
Common Owner has a focus on real estate projects but anticipates also offering securities for smaller firms. An email received by Crowdfund Insider explained that the company wants to “create more enjoyable and more equitable communities for everyone, especially those who have been traditionally excluded from the investment and development process in their own cities.”
A quick visit to Common Owner’s website indicates that the platform will offer securities under both Reg D (506c) and Reg CF. Currently, a single property development offering is listed on the site (Reg D).
Reg CF is the smallest of the crowdfunding exemptions as issuers may only raise up to $1.07 million from both accredited and non-accredited investors. This funding cap may be changed soon as the SEC has proposed a higher funding limit – something that should benefit funding portals.