Wefunder is reporting one of their biggest weeks ever when it comes to Reg CF securities offerings. According to a Tweet by Jonny Price, Wefunder Director of Fundraising, Reg CF saw $2,746,355 in offerings on their platform. This is more than double what either Republic and StartEngine booked during the same period. Of course, a week does not make a year but Wefunder has been dogged in pursuit of Reg CF issuers.
One of our biggest ever #RegCF weeks last week. And that’s *before* the $5M cap increase! 🚀 pic.twitter.com/Dmuw7kKudg
— Jonny Price (@JonnyCPrice) March 15, 2021
Wefunder also appears to have another notable event as an issuer raising capital on its platform is the first to take advantage of the increased funding cap. Wefunder claims a 41% market share of the Reg CF sector (Q4 2020).
Wefunder has announced a goal of doing at least $350 million in investments during 2021. It is also planning to launch a platform in Europe taking advantage of the new European Union funding rules. The pan-European rules allow an issuer to raise up to €5 million across all member states.
Overtime, Wefunder plans to boost Reg A+ offerings and incorporate a secondary marketplace on their site. Sufficient liquidity for trading is expected by 2024.
Eventually, Wefunder sees an initial public offering in its future.
Overall, Wefunder hopes to raise around $600 million during 2021 generating over $50 million in revenue for the platform. In 2020, the average raise was around $225,000. They anticipate this jumping to $500,000 during 2021.