New equity crowdfunding entrant Fundopolis launched today, highlighting the challenges for late entrants.
Fundopolis launched this morning with two campaigns on the portal, Apotheka Systems, which with just a few hours of history has not yet raised any money toward its $1,070,000 goal , and Bee Mortgage App, which has raised $100.
The Securities and Exchange Commission delegates responsibility for regulating financial intermediaries to FINRA, which regulates portals under the SEC’s Regulation Crowdfunding, commonly referred to as Reg CF, using what could be described as a light version of the regulation governing broker-dealers. It presently lists 47 approved portals, including Fundopolis. Broker-dealers can also be authorized under their FINRA registrations to operate portals but are not listed with the Reg CF portals.
Fundopolis is led by CEO Michael Mook. In an email exchange, I asked him some questions about the platform to which he has responded. I’ll share that exchange in its entirety below.
Devin Thorpe: The Reg CF platform space is fairly crowded with dozens of platforms and a few dominant players (WeFunder and StartEngine). How will Fundopolis be different?
Michael Mook: Unlike other equity crowdfunding platforms, Fundopolis is the only portal that is built to support the entire funding cycle for both issuers and investors. By using innovative technology like blockchain, we provide easy-to-use tools that help individuals and small businesses seamlessly navigate the full funding journey – from start-to-finish.
This means that small businesses are never left alone and instead are given robust tools and support to manage equity, distribute perks, and provide a superior experience to each new investor. At the same time, investors are never left in the dark about the status of their investment and how they will receive payment and/or redeem perks.
At Fundopolis, we believe that this new approach to…