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We are currently in the process of writing our full review on FundersClub.com but we needed to take a break and get a post out to congratulate the team at FundersClub for receiving what can only be called an approval by the SEC to operate. Few companies or individuals are willing to fight “town hall”, FundersClub believed they were operating within existing law and did not back down from the SEC. They continued to operate their equity crowdfunding platform even in the face of possible prosecution by the SEC.
Great to see that the FoundersClub platform received notification from the SEC that they will not proceed with any type of action to stop this combination of Crowdfunding and Venture Capital from operating. The platform is only open to accredited investors but is probably the biggest step forward we have seen towards full legalization of equity crowdfunding since the passing of the JOBS Act.
There will no doubt be many that follow the model established by FundersClub but they have earned the respect of many crowdfunding industry experts by not backing down to government pressure. This is the precedent needed for the crowdfunding industry to continue to press forward. There is no shortage of opposition to the JOBS Act and equity crowdfunding by the existing players in both finance and government. This win for the freedom of individuals to invest as they see fit is a big one. No doubt this decision by the SEC will be a major point on the timeline when we look back at the history of the crowdfunding revolution.
CONGRATULATIONS FUNDERSCLUB.com from Crowdfunding-Website-Reviews and the ENTIRE Crowdfunding Industry!!
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