SAN FRANCISCO, CA--(Marketwired - Jun 19, 2013) - FundAmerica (www.fundamerica.com), a game-changing innovator in equity and debt crowdfunding and small business finance, today announced that it has raised $1.4 million in new funding from a group of angel investors, on top of an earlier $200K seed round to close out its go-to-market funding. The Company was formerly known in its stealth mode as Arctic Island. CEO Scott Purcell has raised more than $140 million in venture funding for his prior ventures, which included OnAir Streaming Networks (acquired by Loudeye) and Epoch Networks (the nation's largest privately held ISP at the time).
"America has millions of small businesses that have almost no access to capital," said Scott Purcell, founder and CEO. "And at the same time there are hundreds of millions of small investors who are seeking ways to help businesses grow and create jobs. FundAmerica will provide the broadest platform to bring these groups together."
FundAmerica will provide both a platform for the companies themselves, as well as a syndication engine for brokers and investment banks, along with an easy way for lawyers and accountants to advise on client offerings. The democratization of the capital, thanks to the JOBS Act, will ignite the economy and create a new class of company's servicing this sector, in which FundAmerica intends to be a leading player.
Using the FundAmerica platform, brokers, other portals and industry professionals will soon be able to:
- Help business get the funding they need
- Advise companies before, during and after the fundraising process
- Provide advice and services to entrepreneurs, business owners and investors
- Create thriving groups and forums
The FundAmerica platform is an accredited system that fully complies with CFIRA's "Best Practices for Funding Portals." A white-label version of the platform will be available for broker-dealers and registered portals seeking to provide their own services under the JOBS Act using FundAmerica technology.
FundAmerica, formerly Arctic Island, is a game-changing innovator in equity and debt crowdfunding and small business finance. The Company is committed to funding small businesses and creating American jobs. FundAmerica's service connects businesses with prospective investors on a transparent technology platform that leverages new laws on business capitalization via private placements of securities. For more information including partner opportunities, please visit www.fundamerica.com.
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