Wefunder, a top securities crowdfunding platform, has distributed an “X” (or Tweet) on its market share in the Regulation Crowdfunding or Reg CF sector of online capital formation. The statement indicates that Wefunder has garnered 36.3% of the market in 2023 – year to date.
Reg CF market share YTD, per @Kingscrowdinc.
StartEngine's typically trumpeted acquisition of SeedInvest has had very little impact. (Unsurprising, given SeedInvest had 2% market share before the acquisition).
StartEngine stats are heavily inflated by ads paid for by startups. pic.twitter.com/tn1pQ5ksBq
— Jonny Price (@JonnyCPrice) August 14, 2023
StartEngine is in second place with 31.3% of Reg CF for the year. Republic is in 3rd place with a bit over 10% of Reg CF offerings.
Wefunder throws some shade at StartEngine, claiming StartEngine’s numbers are boosted by paid ads adding that the acquisition of SeedInvest has done little to boost its share of the Reg CF offerings.
As a regulated Funding Portal, Wefunder has focused mainly on raising money under Reg CF – a securities exemption that enables firms to raise up to $5 million online. Both StartEngine and Republic list securities under Reg A+ – an exemption that allows companies to raise up to $75 million, and Republic also offers securities under Reg D – an exemption without a funding cap but investors must be accredited.