The story of StackSource's new public fundraising campaign on WeFunder.
If you were to navigate to WeFunder.com this week, one of the top equity crowdfunding portals for startup companies, then you would catch the graphic on the left here.
We’ve officially opened up the ability for anyone, accredited or unaccredited, to invest in the future equity of our company. Less than one week after the public launch, we’re at more than $1.4 Million of equity commitments toward the round from 175 different investors.
Here’s the story.
StackSource is raising a round of funding, available to any investor online, in order to further capitalize on our momentum as a business. We’re raising up to $2.23 Million and, at the time of writing, have around $1.5 Million already committed!
The campaign is officially registered with the SEC as a “Regulation CF” funding round (CF stands for Crowdfunding). Over the last few year, startups and other private companies have been allowed to raise $1.07 Million online through Reg CF, but on March 15th of this year (just two weeks away now), that limit increases up to $5 Million. You can expect more startups with utilize this type of funding mechanism going forward due to the loosening regulations.
As a matter of fact, our lead investor group that’s bringing $1 Million to the round is an ideal investor. On our WeFunder campaign page you’ll see the name George Chmiel as our lead. George was the earliest outside angel investor for a commercial brokerage company that is now one of the largest private commercial brokerages in the country. He is teaming up with several industry execs on that $1 Million lead, and we had some immediate follow-on commitments from the likes of Newark Venture Partners (a previous investor participating again), and other real estate industry players. So this investment round is super strategic in addition to being open to everyone — the best of both worlds for a team that believes in transparent financing!
We grew our originations through our online platform by 50% last year, despite the commercial mortgage lending market contracting by 40%. For the non-math geeks, that means we more than doubled market share.
This year we’re on pace to more than double that volume, and hope to triple it. And that’s before rolling out the new tech that we’ll be able to build with this capital!
We’ll use this funding to hire more great people who help us accelerate our vision, while continuing to grow revenue through the number of successful financings on the platform.
Check out the full materials, disclosures, and opportunity to invest at WeFunder.com/StackSource.
Want to get in touch with StackSource’s founders about this directly? Shoot a (quality) email to Founders@StackSource.com.