EquityMultiple, an established real estate crowdfunding platform, is looking to raise money on Wefunder.
According to the filing with the SEC, EquityMultiple aims to raise up to $3.5 million. The company is selling a SAFE, which allows investors to purchase preferred shares at a future trigger event with a valuation of $75 million for early investors (up to $2m).
EquityMultiple has raised growth capital several times in the past, the most recent being a $4 million convertible note in October 2023. During Q1 of 2023, EquityMultiple raised money on Wefunder.
If the company raises the full amount, it plans to use the funds mostly for marketing and growing operations.
According to filed documents, EquityMultiple booked $170 million in transaction volume in 2022. It lost $5.565 million that year. In 2021, EquityMultiple lost $861,431.
EquityMultiple caters to Accredited Investors, who may access vetted, passive real estate investments for as little as $5,000.
The company offers single property opportunities as well as fund-like vehicles that seek to generate income. Its Alpine note, described as a cash management tool, is a yield product that currently offers fixed APYs from 6% to 7.4%.
The securities offering will be available to the public in about 12 days. Detailed information is available on the EquityMultiple offering page on Wefunder. The offering is scheduled to close on April 29, 2024.
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