Best Equity Crowdfunding Platforms For Businesses & Entrepreneurs
If you have a unique or innovative business idea, you may be able to raise capital through equity crowdfunding. Here's where to get started.
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Capital is necessary to ensure the success of your business. Of course, there are loans, lines of credit, and other traditional types of funding available at your bank or through an online lender. But there’s another option that should be on your radar: crowdfunding. More specifically, equity crowdfunding.
This type of crowdfunding allows entrepreneurs and startups to receive funding from backers in exchange for an equity stake in the company. In this article, we’re going to look at equity crowdfunding, what it is, and where to find it.
Learn More About Our Top Picks
| Company | Best For | Next StepsBest For |
|---|---|---|
Wefunder
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EquityNet
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Fundable
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MicroVentures
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Read more below to learn why we chose these options.
Table of Contents [hide][show]
- What Is An Equity Crowdfunding Platform?
- Best Equity Crowdfunding Sites For Businesses & Entrepreneurs
- Wefunder: Best For Regulation Crowdfunding
- EquityNet: Best For Small Private Businesses
- Fundable: Best For Flexible Equity Crowdfunding
- MicroVentures: Best For Innovative Startups
- What To Look For In An Equity Crowdfunding Site
- Find An Equity Crowdfunding Platform To Fit Your Needs
Table of Contents
- What Is An Equity Crowdfunding Platform?
- Best Equity Crowdfunding Sites For Businesses & Entrepreneurs
- How The Best Equity Crowdfunding Platforms Compare
- Wefunder: Best For Regulation Crowdfunding
- Wefunder
- Wefunder Fees
- Wefunder Terms
- EquityNet: Best For Small Private Businesses
- EquityNet
- EquityNet Fees
- EquityNet Terms
- Fundable: Best For Flexible Equity Crowdfunding
- Fundable
- Fundable Fees
- Fundable Terms
- MicroVentures: Best For Innovative Startups
- MicroVentures Fees
- MicroVentures Terms
- Our Methodology
- What To Look For In An Equity Crowdfunding Site
- Find An Equity Crowdfunding Platform To Fit Your Needs
What Is An Equity Crowdfunding Platform?
Equity crowdfunding is a way to raise capital to start or grow your business. Investors invest money in a business in exchange for equity — typically in the form of shares in the company. So, an investor receives ownership in the company, and in return, the company receives the capital it needs to launch or expand.
Aside from what the investor receives in exchange for their money, another primary difference between equity crowdfunding and rewards crowdfunding is how much money can be raised. Typically, equity-based crowdfunding is best for entrepreneurs and companies that need large amounts of capital to start or grow their businesses.
An equity crowdfunding platform is an online platform that allows you to pitch your business to potential investors. These platforms typically require a fee for the service but in exchange will allow you to post information about your business so you can connect with investors to meet your financial goals.
For the right kind of business, equity crowdfunding represents a prime opportunity. But it’s also important to know that equity crowdfunding is legally complex, so make sure you work with reputable companies, understand laws regarding equity crowdfunding, and consult with an attorney or CPA for advice.
Best Equity Crowdfunding Sites For Businesses & Entrepreneurs
Want to raise capital without taking on debt? Equity crowdfunding lets you secure funding in exchange for a stake in your business — no payments, collateral, or credit checks required. Here are the top platforms to start with.
- Wefunder: Best For Regulation Crowdfunding
- EquityNet: Best For Small Private Businesses
- Fundable: Best For Flexible Equity Crowdfunding
- MicroVentures: Best For Innovative Startups
How The Best Equity Crowdfunding Platforms Compare
| Fees | Best For | |
|---|---|---|
| Wefunder | 7.9% | Startups with exponential growth potential |
| EquityNet | None (paid subscriptions are available) | Entrepreneurs & small private businesses |
| Fundable | $179/month | Flexible crowdfunding |
| MicroVentures | Varies | Businesses with a unique idea |
Wefunder: Best For Regulation Crowdfunding
Pros
- Biggest Regulation Crowdfunding platform
- Low investment minimums
- No upfront fees
Cons
- Must reach your goal to get funded
- Legal complexities
Why We Chose Wefunder
Wefunder is the most successful crowdfunding platform to use Title III equity crowdfunding or Regulation Crowdfunding. In simpler terms, this means you can solicit investment from anybody — both from accredited investors and those who are not accredited.
US corporations and LLCs can use Wefunder. The rare startup with exponential growth potential stands a decent chance of finding funding through the platform. Other businesses may have a tougher time of it. Tech and food companies seem to comprise the majority of funded startups on Wefunder.
Choose WeFunder If...
- You have a startup with high growth potential
- You can raise $50K through your own network
EquityNet: Best For Small Private Businesses
Pros
- Keep What You Raise
- Flat monthly fees
- Good customer support
Cons
- Offline funding can be inconvenient
Why We Chose EquityNet
EquityNet stands out because it doesn't just serve high-tech or high-growth businesses. Instead, this company markets itself to a broad range of entrepreneurs and private businesses. EquityNet does not have a prescreening process, so your business can be on the platform quickly and easily. You can sign up for a business profile for free, but a paid subscription is required to take advantage of services.
EquityNet offers entrepreneurs and businesses alike the ability to use its equity crowdfunding platform. EquityNet's equity campaigns operate under Title II rules, so you'll be raising funds from accredited investors only. You'll also get to keep everything you raise regardless of whether you hit your funding goal.
It is important to note that EquityNet does not facilitate transactions, and funding is done outside of the platform.
Choose EquityNet If...
- You want to improve your business plan
- You’re an entrepreneur or own a small business and want to raise capital through equity crowdfunding
Fundable: Best For Flexible Equity Crowdfunding
Pros
- Flat monthly fees
- Equity & reward-based crowdfunding
- Good customer support
Cons
- Campaigns must be prescreened
- All-or-nothing on rewards-based campaigns
Why We Chose Fundable
Fundable is a crowdfunding site that offers both rewards and equity crowdfunding campaigns (though not both simultaneously). For the purposes of this article, we'll focus on its equity crowdfunding campaigns, though its rewards campaigns may be something to keep in mind for the future.
Fundable is a flexible crowdfunding platform in terms of campaign types you can launch through the site. It is important to note, however, that Fundable does pre-screen businesses before allowing them to begin fundraising, so make sure you have everything in order before you begin the process.
Choose Fundable If...
- You want to launch rewards-based and equity crowdfunding campaigns
- You want to work with a platform that’s backed with good customer support
MicroVentures: Best For Innovative Startups
MicroVentures |
|---|
Pros
- Good for innovative or high-growth startups
- Multiple funding options
Cons
- Must reach your goal to be funded
- Highly selective
Why We Chose MicroVentures
MicroVentures is another example of a Regulation Crowdfunding platform. According to MicroVentures, it mainly invests in industries including internet technology, media and entertainment, software, green technology, mobile, social, and gaming.
Per the company, "MicroVentures looks for businesses that have a unique idea or a new spin on an old technology." MicroVentures also goes on to note that less than 5% of businesses that apply are added to the platform. MicroVentures is an all-or-nothing crowdfunding site. If you raise some money but fail to meet your funding goal by the time your campaign ends, you'll get nothing.
Choose MicroVentures If...
- You have a unique business idea
- You’re in an industry like technology, media, entertainment, social, or gaming
Get Started With MicroVentures
Our Methodology
We spend hours researching and evaluating each crowdfunding platform that we review at Merchant Maverick, placing emphasis on key characteristics to generate our product ratings.
When rating crowdfunding platforms, we use a rubric that looks at terms and fees, project qualifications, application process, sales and advertising transparency, customer service, and user reviews. We weigh each section differently to calculate the total star rating.
- Terms & Fees: 25% of the total star rating
- Project Qualifications: 25% of the total star rating
- Application Process: 25% of the total star rating
- Sales & Advertising Transparency: 10% of the total star rating
- Customer Service: 10% of the total star rating
- User Reviews: 5% of the total star rating
Each section is further broken down into granular, weighted subsections, in which we look at specific attributes, such as campaign durations, supported project types, time to funding, application processing times, and platform fees. Learn more about how we rate crowdfunding platforms.
What To Look For In An Equity Crowdfunding Site
Now you should have an idea about some of the big players in the equity crowdfunding space. But how do you decide which one of these — or maybe another platform entirely — is the right one for you?
To narrow down your choices, keep note of the following factors you should look for in an equity crowdfunding site.
- Value: Evaluate all costs (subscription fees, platform fees, legal fees, etc.) and determine if the platform fits within your budget and is worth the expense.
- Industries Served: Make sure to check out platforms that specialize in your specific industry.
- Resources & Support: Look for platforms that are easy to navigate, offer great customer support, and have resources to help boost your odds of running a successful campaign. Make sure that you’re aware of any additional costs that may accompany personalized support, legal documents, or other resources.
- All-or-Nothing Vs. Flexible Funding: If you have a set goal that you have to meet, platforms with an “all-or-nothing” model will be fine for you. However, if you could use capital even if it falls a bit short of your goal, look for a site that has flexible funding options.
- Financial Goals: Make sure that the platform you select allows you to raise the amount of capital needed to launch your business or take it to the next level.
Find An Equity Crowdfunding Platform To Fit Your Needs
Equity crowdfunding has only been around for a few years. Suffice to say, it is a work in progress. If you play your cards right, however, it might be just the thing to take your startup to the next level.
If you’ve done your due diligence in preparing your offering and you possess the ability to excite investors, professional and amateur, then it’s certainly an avenue worth exploring.
Erica Seppala
Editor & Senior Staff Writer at Merchant Maverick
Erica has been writing about small business finance and technology since 2008. She joined Merchant Maverick in 2018 and specializes in researching and reviewing business software, financial products, and other topics to help small businesses manage and grow their operations. Her expertise has been cited in MSN, Reader's Digest, Vox, U.S. News & World Report, and Real Simple. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll, a graduate of Limestone University, and currently resides in Greenville, South Carolina.
View Erica Seppala's professional experience on LinkedIn.
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