Netcapital

Netcapital is an SEC-registered funding portal founded in 2014 and headquartered in Boston, Massachusetts. It is one of the longest-operating Reg CF platforms, with 144+ successful offerings and over $100 million raised collectively for early-stage companies as of late 2024 — with an average raise size of $425,000 per deal, indicating the platform favors small, rapid-cycle campaigns over the larger, hand-selected deals seen on Republic. Wikipedia The platform went public in 2020 via a NASDAQ listing (ticker: NCPL), giving investors unusual transparency into its own financial performance — which, notably, has shown sustained unprofitability. AInvest The company's auditor has flagged a going-concern warning regarding Netcapital's ability to continue operating, a disclosure prospective investors should research directly before creating an account.

The platform is open to non-accredited investors and sets its minimum investment at $99 across most deals, meaningfully lower than comparable crowdfunding platforms. Netcapital operates on an open-marketplace model: any startup that meets SEC Reg CF requirements can list on the platform, and there is no editorial curation or selective filter applied before issuers reach investors. This is a deliberate design choice with real tradeoffs — it gives investors access to a wider variety of offerings, but it also means that lower-quality companies are present alongside more competitive ones. The platform does allow investors to trade their Reg CF securities on a secondary market it built specifically for this purpose, but reported trading volume is thin and price discovery is limited.