Fundify has officially announced its launch as a FINRA regulated funding portal offering securities under Reg CF (Regulation Crowdfunding).
In a company release, Josh Chodniewicz, founder and CEO of Fundify, stated:
“This is an incredible time in the equity crowdfunding market. It’s growing by triple-digit percentages year over year as everyday investors learn they can now invest in startups and founders see how technology is being infused into capital raising, simplifying the process.”
Fundify currently has multiple securities offerings listed on its site. The company said that its first securities offering for Baby Barista finished successfully at 300 percent of the initial target amount.
Chodniewicz previously founded Art.com and Allposters.com which was acquired by Walmart.
Fundify charges 6% of the raise for any successful issuer along with 1.5% in equity. If the offering is not successful, Fundify receives nothing.
Investors may participate in a securities offering for as little sa $10.
Fundify hopes to benefit from recent improvements to the securities crowdfunding ecosystem. In March of 2021, the Securities and Exchange Commission incrased the funding cap for Reg CF to $5 million from $1.07 million. The initial response from both issuers and platforms has been encouraging as a higher limit makes the exemption more viable to a broader group of firms.