Funding Portal Mainvest Looks to Raise up to $1.235 Million on Republic

Mainvest, a FINRA-regulated Funding Portal, is looking to raise money on another funding portal – Republic. Mainvest is a securities platform that aims to provide access to capital for “main street” type firms.

According to the offering page on Republic, Mainvest is looking to raise up to $1.235 million in a Reg CF securities offering. Investors are purchasing a SAFE [Simple Agreement for Future Equity] at a valuation cap of $15 million and no discount. There is a minimum of $500 to participate in the offering.

Mainvest reports that it has listed over 500 funding rounds on its platform, with $25 million invested to date. It anticipates profitability by the second half of 2023.

Mainvest CEO Nicholas Mathews describes his company in a statement on the comment section of the offering page:

“Our platform gives small businesses a vehicle to raise capital directly from the community they serve – In turn, communities are voting with their wallets and aligning interest with local businesses they want to support. We’ve seen this lead to

1.) higher performing businesses underwritten by their local community and

2.) capital access that comes with the added value of local awareness/marketing and increased customer loyalty.

 94% of Mainvest portfolio businesses plan to utilize Mainvest again in the future as they continue to grow and expand.”

Mainvest may be described as a bank replacement platform and it offers both debt and equity securities for firms raising money on its site.

The company has outlined an aggressive expansion roadmap contingent upon a successful funding round.

A quick review of Mainvest’s Offering Circular indicates that it lost about $$2.5 million in 2021 and expects a loss of about $2 million in 2022.

The offering is expected to close the first week of January 2023, if not earlier.



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