A Reg CF offering can run on only one platform at a time, and switching mid-raise means withdrawing and refiling. The choice matters. Platforms range from large generalists with hundreds of thousands of registered investors to niche portals focused on real estate, local businesses, or a single industry.
Funding portal or broker-dealer?
Both can host Reg CF offerings. Funding portals are registered with the SEC and FINRA specifically for crowdfunding and can't do things like hold investor funds or give investment advice. Broker-dealers have a broader license and can sometimes run a Reg CF raise alongside a Reg D or Reg A+ offering more easily. For most first-time issuers, a funding portal is the usual choice.
Eight questions to ask every platform
- What's the total cost at my target raise? Include success fees, upfront fees, equity fees, processing, and escrow. Get it in writing.
- Who are your investors? Ask about the size and activity of their investor base, and which sectors perform well there. A consumer brand and a biotech company need different audiences.
- What does a typical raise look like for companies like mine? Ask for median results in your category, not just headline successes.
- How selective are you? Platforms that accept fewer companies often have more engaged investors.
- What marketing support is included? Featured placement, newsletter inclusion, campaign coaching — and which of these cost extra.
- How do you hold investors on my cap table? Many platforms offer a crowdfunding vehicle or nominee structure so hundreds of investors appear as a single line. Future VCs will care about this.
- How fast can we launch, and what do you need? Due-diligence timelines vary from days to weeks.
- What happens after we close? Investor relations tools, help with annual reports, and support for follow-on raises.
Matching platform to company
- Consumer brands with a loyal following tend to do well on the large generalist platforms, where investors browse and back products they use.
- Local businesses — restaurants, breweries, gyms — often fit platforms built for community investment, frequently with debt or revenue-share deals.
- Deep-tech or B2B companies may need a platform with a more sophisticated investor base, or a combined Reg CF and Reg D approach.
- Real estate has dedicated portals with investors who understand the asset class.
Not sure where you fit? Take our readiness quiz and we'll send you a shortlist of platforms matched to your company, with typical fees. We may receive a referral fee from some platforms, and we'll tell you which.