Crowdfunding has been gaining some traction as of late. More and more people are now using various platforms to raise funds for their businesses, causes or projects. In addition to raising funds, success in crowdfunding can lead to more job opportunities and improvements to the overall economy.
Research from crowdfunding platform Fundly, revealed that $34 billion was raised worldwide through crowdfunding last year. It also stated that the industry is set to exceed $300 billion in terms of market value and that 270,000 jobs have been generated as a result of successful crowdfunding.
With such impressive potential, more entrepreneurs are trying to establish their own platforms to capitalize on that growth. The U.S. currently hosts 191 platforms, and with that quantity, it may be a challenge for other platforms to stand out in this saturated market. Meanwhile, for individuals looking for an appropriate platform for their campaigns, it can be tough to select one, as there are a lot of options to consider.
However, Chicago-based truCrowd, Inc., the owner and operator of crowdfunding portals truCrowd.com and fundanna.com [cannabis focused fundraising portal], managed to emerge and become much more visible. VentureBeat recently included truCrowd.com in the online publication’s list of the 10 best crowdfunding platforms approved by FINRA. Alongside truCrowd are companies like Start Engine, SeedInvest, Wefunder and Republic.
VentureBeat evaluated the platforms based on their success rate, average funds accumulated in each listing, the number of listings and aggregate capital commitments, with the list divided into these categories.
In terms of the success rate, truCrowd earned the eighth spot, with a 63 percent success rate. It surpassed Growth Fountain, which is at number 10 with 38 percent, and DreamFunded at ninth place with 53 percent.
truCrowd is then ranked in fifth place with regards to the average funds collected for every campaign, with an impressive $268,561. It is followed by Start Engine [ranked 6th], Republic [7th], Net Capital Funding [8th], Growth Fountain [9th] and Jumpstart Micro [10th].
When it comes to capital commitments, truCrowd once again placed in eighth, with $1.2 million, eclipsing Growth Fountain and Jumpstart Micro. Wefunder took the lead in this category at the #1 spot, with $38.3 million. And finally, in the number of campaigns per platform, truCrowd emerged in the eighth spot once again, with 29 campaigns in total.
Upon hearing this news, Digital Asset Monetary Network or “DigitalAMN” (OTCMKTS:DATI), which recently acquired a significant equity stake in truCrowd, Inc. this past March, lauded the Company for such achievement.
DigitalAMN, formerly known as Digital Arts Media Network, is a specialized accelerator company that uses the Public Accelerator-Incubator (PAI) model. It aims to help develop companies that have innovative ideas and capabilities of providing solutions via digital platforms and other electronic applications.
“We are extremely confident that our investment in this equity crowdfunding portal will play an invaluable role in our business development eco-system,” said DATI CEO Ajene Watson. “These VB rankings are evidence of this. We strongly anticipate truCrowd’s rankings to improve; having an extremely positive impact on our accelerator incubator business model, in addition to our shareholders’ equity portfolio of startups,”
DigitalAMN considers truCrowd’s inclusion in VentureBeat’s list as the fruit of its efforts to develop an ecosystem where entrepreneurs, angel and early-stage investors, and everyday people have the ability to connect in a meaningful way, to support and participate in the development of high-tech startups or development stage companies.
Watson also expressed his happiness with the relationship Digital Asset Monetary Network forged with truCrowd. He further stated that his Company “will benefit greatly from their continued success.”
In the increasingly populous crowdfunding industry, it is indeed a challenge to catch the eyes of people in search of platforms for their campaigns. However, truCrowd, even in its young age, has risen up to the challenge, and as a result, deserves the recognition it has received.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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