Crowdfunder, fund thyself.
That’s the strategy of crowd funding specialist, SeedInvest, which announced today that it is seeking to raise the balance of its $3 million Series A round from its own community of investors.
SeedInvest co-founder and CEO Ryan Feit explained: “Given that SeedInvest allows individuals to invest alongside VCs, we decided to eat our own dog food and hold the last millions for our own investors.”
SeedInvest has $2 million already invested, courtesy of investors such as Archer Gray, Avenue A Ventures, Great Oaks Venture Capital, Krillion Ventures, and Scout Ventures. The company is gearing up to take advantage of a key feature of the JOBS Act that will allow non-accredited investors to participate in crowd funding platforms like SeedInvest later this year. Feit pointed specifically to the new funding as enabling the company to service what he expects to be a significant increase in the number of potential new investors.
An equity crowd funding platform, SeedInvest focuses on directing investors toward startups and small businesses that are seeking funding. Among the companies that have received investment via SeedInvest are Vengo, a POS kiosk for digital media, and CapLinked, a PayPayl-like platform for businesses. SeedInvest was founded in January 2012, and is based in New York City.
SeedInvest demoed its technology at FinovateSpring 2013 in San Francisco. See their video here
. And for more information about our upcoming FinovateSpring event, April 29 and 30 in San Jose, visit our FinovateSpring 2014 page