In a Tweet by Wefunder VP of Fundraising Jonny Price, the crowdfunding platform indicates it is experiencing accelerating investments on the platform. It appears that during the first 6 months of 2021, the number of investments has already topped all of the activity in the year prior.
— Jonny Price (@JonnyCPrice) July 23, 2021
Of course, 2019 was the year of COVID which impacted just about every single business. Additionally, in March of 2021 the funding cap of Reg CF, the securities exemption mainly utilized by Wefunder was increased from $1.07 million to $5 million.
According to the Wefunder website, the amount of investments topped $68 million during the first quarter of 2021 – about double of Q4 of 2020 and more than 6x the same quarter year prior.
Wefunder has a stated goal of raising at least $350 million in funding during 2021 – pretty ambitious. The increased funding under Reg CF, along with Reg A+ raises (funding cap of $75 million), should help accomplish this goal.