Tagged: minnesota

Digitalization: Migration of Finastra Fusion Phoenix Core Solution to Cloud Announced by First Citizens Bank

Finastra announced that First Citizens Bank of Iowa and Minnesota, a family-owned community bank headquartered in Mason City, Iowa, has “expanded its collaboration with Finastra, migrating Finastra’s Fusion Phoenix core solution from on-site hosted to the cloud.” The bank will leverage its new core capabilities… Read More

WireFX, Stearns Bank to Serve Fintechs, Payment Firms

WireFX, a Minnesota based Fintech startup and Stearns Bank N.A., an independently-owned financial institution with locations in Minnesota, Florida and Arizona “announce their partnership to support fintech and payment companies with FDIC insured bank accounts.” WireFX will “utilize Stearns Bank’s sponsorship to offer domestic and… Read More

TradeStation Crypto Expansion: Now Providing Access to Traders in Minnesota, Mississippi, & Ohio

TradeStation, an online broker-dealer and futures commission merchant, announced on Thursday it is now providing access to its services to traders in Minnesota, Mississippi, and Ohio. Residents of these states may now be able to apply for an account on the TradeStation brokerage platform in… Read More

US Bank Is Planning to Close Some Physical Branches Due to Consumer Shift to Online Banking

Minnesota-based US Bank will be closing its downtown branch and one of its two physical branches in Tucson. US Bank’s management also said that three of the institution’s eight local branches (located in Safeway stores) would also be shut down. US Bank representative Evan Lapiska… Read More

Crowdfunding Platform Silicon Prairie is Approved as a State Regulated Broker Dealer (No FINRA Oversight)

Silicon Prairie, an investment crowdfunding platform that offers securities as a Reg CF portal as well as under intrastate securities exemptions, is now a broker-dealer. But Silicon Prairie is not required to be regulated by FINRA as it has received approval to operate under the… Read More

The STATE of Investment Crowdfunding: How Intrastate Crowdfunding is Beating REG-CF on the Cost of Capital (and how to fix it)

There’s a Fintech revolution happening in Minnesota. Since passing its own version of intrastate crowdfunding legislation in 2015 and quietly opening its doors in 2016 the state has taken the regional lead in raising more money for more businesses under its “MNvest” exemption as well… Read More

Minnesota Rocks: MNvest Updates on 2017 Intrastate Crowdfunding Progress

Minnesota is one of the best organized states when it comes to intrastate crowdfunding activity. There are a growing number of states that have state based securities crowdfunding rules but Minnesota has been fortunate to have MNvest, a non-profit group, as a guiding light for… Read More

Minnesota Updates on Intrastate Crowdfunding

MNVest has tweeted out an interesting graphic that tracks sector progress for investment crowdfunding in the state of Minnesota. For those not in the know, MNVest is the advocacy group, as  well as the name of the law, that helped to make Minnesota’s state crowdfunding… Read More

MNvest Update: Four Crowdfunding Platforms Operating in Minnesota

Numerous states have enacted “intrastate” crowdfunding regulations to help foster capital formation for local businesses. Some of the states have crafted crowdfunding rules that are superior to Title III of the JOBS Act, also called Reg CF.  Minnesota is one of those states that benefited… Read More

Alton Sterling & Philando Castile Supporters Raise Nearly $800,000 Combined Through Two GoFundMe Campaigns

Just a few days after actress Issa Rae launched a GoFundMe initiative to raise $200,000 for Alton Sterling’s children, the campaign has successfully raised nearly $650,000 from over 22,000 supporters. As previously reported, the father of five was killed on Tuesday morning during an encounter with… Read More

Kickstarter Announces Support For Black Lives Matter Movement

Following the tragic events of Baton Rouge, Minnesota and Dallas, Kickstarter took a stand and announced its support for the Black Lives Matter Movement. The Black Lives Matter Movement, which was formed in 2013,  is described as a unique contribution that goes beyond extrajudicial killings… Read More

Minnesota MNvest Crowdfunding Law Takes Effect on June 20th

The Minnesota intrastate crowdfunding law kicks off next week when the Minnesota Commerce Department will begin accepting applications for portal operators on June 20th. The new law, enacted about one year ago, was created to allow ordinary Minnesota citizens to use crowdfunding to invest up to $10,000… Read More

Investment Crowdfunding is Now Legal in Minnesota

As expected, Minnesota Governor Mark Dayton signed the MNVest bill, making it law, and thus legalizing investment crowdfunding in the Land of 10,000 Lakes.  The legislation was sponsored by Senator Terri Bonoff and Representative Jen Loon but benefited by popular bipartisan support and the backing… Read More

Minnesota Equity Crowdfunding Bill Heads to Governor’s Office for Signature

The Minnesota bill that will legalize equity crowdfunding in the state has made its way through both the House and Senate. It is now on track to be signed into law by Governor Dayton . The legislative push received the backing of MNVest, a coordinated… Read More

Indiegogo Alum SmartGuitar JamStik Hits Kickstarter With New Version; Captures Over $350,000 in Two Weeks

Setting out to bring a new version of its super popular musical instrument to the market, Sioux Falls, Minnesota-based Zivix hit  Kickstarter with its “smart guitar,” the JamStik. The launch of the project comes nearly two years after the startup raised close to $180,000 on the platform’s competitor, Indiegogo…. Read More

NPR Talks Intrastate Crowdfunding in Minnesota (Audio)

National Public Radio in Minneapolis has just published a brief perspective on equity crowdfunding drawing a comparison to rewards based platforms such as Kickstarter and Indiegogo, with the changing environment where individuals will be able to actually purchase equity in small firms. NPR reporters enlisted… Read More

State of the States: An Update on Intrastate Crowdfunding

As the S.E.C. continues to drag its feet on releasing final Title III crowdfunding rules, the intrastate crowdfunding movement shows no signs of slowing down. Here is a brief update as to the status of the enactment/use of intrastate crowdfunding exemptions in certain states. Minnesota… Read More

Minnesota Legislature Moves Forward with Crowdfunding Bill

The state of Minnesota is next on the list of states determined to take matters into their own hands as Federal regulations continue to be mired in parochial politics and timid rulemaking. A crowdfunding bill was introduced into the legislative process today in St. Paul…. Read More

Minnesota Can’t Wait on Feds for Crowdfunding Regulations as Group Forms to Push Intrastate Rules

Minnesota has joined the growing list of states that may want legalized investment crowdfunding now -and not just for accredited investors.  Recognizing that Title III is encumbered with excessive costs and a too low cap on amounts an issuer may raise,  a group called “MNvest”… Read More

Kickstarter Alum SmartThings Closes $12.5 Million Series A

Minneapolis-based SmartThings Kickstarted their way to $1.2 million, closing their campaign in September of 2012. Over 5,500 backers pitched in for the home automation system. SmartThings makes it easy to connect the things in your physical world to the Internet. You can monitor, control, automate,… Read More

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