Click here to read our more detailed post of the basics of Regulation Crowdfunding.
We have listed some examples below of the various types of intermediary available for Regulation Crowdfunding offerings, rather than make a comprehensive list of all possibilities in the current market.
Notably, neither Kickstarter or Indiegogo (arguably the two most recognizable crowdfunding platforms) have entered the equity-crowdfunding fray: Kickstarter has made multiple public statements that it does not intend to offer equity crowdfunding, and although it has expressed an intention to join the market, Indiegogo has yet to make equity crowdfunding an available service on its platform.
Many platforms offering Regulation Crowdfunding-compliant equity sales have not registered as broker-dealers. Instead, funding portals include older companies like AngelList and EquityNet as well as new entities like Wefunder, Crowdfunder, and Fundable. Currently, although Regulation Crowdfunding permits funding platforms to offer equity to non-accredited investors, many funding portals limit their investor membership to the accredited investor crowd. AngelList, EquityNet, SeedInvest, and Fundable are all among this group. Some, like Fundable, offer both “rewards” (traditional crowdfunding) and “equity” crowdfunding opportunities, and limit the sale of securities to accredited investors. A few, like Wefunder, allow both accredited and non-accredited investors to participate on their platforms. Many funding portals also require minimum per-project investment thresholds from prospective investors, although the actual dollar amount varies from as low as $100 to over $1,000, depending on the platform.