Congress asked us to write a Letter of Support for the Fix Crowdfunding Act
The Financial Services Committee in the House of Representatives is marking up the Fix Crowdfunding Act. If all goes well, it will be voted on in Committee on June 15th. This bill is vital to protect investors who participate in equity crowdfunding.
We are honored that we’ve been asked to write a letter in support, and hope the legislators find our on-the-ground experience useful.
Over the past six months, we’ve spent many hours speaking with the offices of Representatives Patrick McHenry and Maxine Waters. We are impressed with how deeply they have dived into the issue, and are hopeful they will come to a bipartisan compromise over the next week.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 114 startups
Wefunder Advisors LLC
for 84 startups
for 1 startup
We are the largest funding portal for Regulation Crowdfunding.
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
Join 161,971 investors who funded 192 startups with over $60 million1
Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Reg Crowdfunding offerings are made.
Wefunder, Inc. operates sections of wefunder.com where some Reg A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.
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