StartEngine’s self-crowdfunding round is cruising towards its goal of raising $55 million. Launched at the end of August, StartEngine has now raised $7.324 million backed by over 4200 individual investors.
StartEngine is utilizing the Reg A+ securities exemption, a process that allows the company to raise up to $75 million. As was previously reported, StartEngine is raising equity capital at a pre-money valuation of $786 million.
StartEngine has previously self-crowdfunded $31.5 million.
Part of StartEngine’s pitch is its accelerating volume of securities offerings. In March of 2021, the Securities and Exchange Commission increased the funding cap of Reg CF to $5 million (previously $1.07 million) and Reg A+ to $75 million (previously $50 million). These increases plus new services are expected to help the investment platform grow.
StartEngine prominently displays its total raised during Q2 2021 in contrast to several of the competition platforms – almost doubling its nearest competitor. StartEngine’s long term ambition is to help companies raise $10 billion by 2029.
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