Bitcoin, Cryptocurrency And Blockchain News

Crypto Crowd Equity Platform Raises $12 Million; Led by Binance and NEO


Crowd Equity platform Republic have raised $12 million in in commitments for a token presale, in an investment round led by Binance and NEO. Kendrick Nguyen, the CEO of Republic, spoke exclusively to Coindesk:

Essentially it’s us going IPO without going IPO. We will be doing a combination of Reg D, Reg S and Reg A+ to make sure our tokens are widely available, irrespective of income or net worth in the U.S. and beyond. There’s no reason why you have got to be a millionaire to participate in startup investing. Anyone anywhere can and should invest in startups.

Ultimately, Republic are looking to raise over $90 million including funds from the upcoming public sale (TBA), in order to expand their vision of equal opportunity for investors and startups alike. As the company itself says:

In May 2016, the U.S. Securities and Exchange Commission enacted Title III of the JOBS Act, allowing non-accredited investors — the majority of the US population — to invest in startups. But the complicated legal requirements demanded for a founder and investor-friendly, easy to use platform to make startup investing truly accessible.

That’s why we built Republic: to democratize investing and level out the fundraising landscape for founders and investors alike. We’re SEC-registered, FINRA-licensed, and if you’re at all interested in startups, you’ve heard of our past work: Republic is part of a family of startup platforms together with AngelList, Product Hunt, and CoinList — one of the most trusted online startup ecosystems in the world.

Nguyen originally worked for AngelList, out of which Republic was born. Meanwhile, COO Caroline Hofman worked for McKinsey in New York and London.

The Republic model, that anyone can be an investor or a startup, and everyone is equal of the same chance to participate, is certainly in the spirit of the decentralized blockchain model. And now, with investor backing, they are well on their way to realizing their dreams.