Startups looking to raise capital have more options today thanks to evolving technology, regulation and market behavior. Initially, crowdfunding had adverse selection problems (e.g. only seeing deals that could not raise elsewhere), but now that it has matured, it’s becoming an option to other sources of early capital (eg. family & friends, angels, VCs). For a quality discussion on its merits see the Notes below.

Here are the biggest crowdfunders in the United States ranked by a modified FAB** score ,which for this category, includes the cumulative value of funds raised on the platform along with the usual inputs of the company’s funding, number of employees, and website traffic.

Table: Top U.S. Equity Crowdfunding Platforms (ranked by FAB score**)

Rank Company FAB Score** Review Founded HQ Platform Funding ($M)*** Company Funding ($M)**** Visits
(Jul ’23)
1 Republic 675 29 Aug ’23 2014 NYC 2,500 214 460,000
2 StartEngine 399 29 Aug ’23 2014 LA 650 87.6 1,200,000
3 Wefunder 271 29 Aug ’23 2012 SF 615 22.2 720,000
4 SeedInvest (Circle) 105 29 Aug ’23 2011 NYC 465 12.4 70,000
5 Microventures 93 29 Aug ’23 2009 Austin 450 3.4 43,000
6 MainInvest 26 29 Aug ’23 2018 Salem, MA 15 3 100,000
7 Netcapital 19 29 Aug ’23 2014 Boston 11 2 83,000

Source: FintechLabs, 29 August 2023, from companies, Crunchbase, SimilarWeb, Pitchbook

*Our business model depends on revenue from referrals and sponsors. When you see a referral link in the URL, we may earn a fee when a new account is started (thanks!). This can improve visibility on our website, but does not impact the company’s FAB score.
** The FAB score, Fintech Attention Barometer, is a proxy for the overall size of a private company since they typically do not release traditional metrics (# customers, deposits, AUM, etc). The score is based on VC funding, website traffic, mobile downloads, and the number of employees. It’s a work in progress, so expect changes in the formula.
***Amount raised by companies on the platform lifetime
****Funding is the amount invested into the company as either equity or debt.


Crowdfunding Companies Currently Active in the United States


1. Republic
FAB Score = 675 (unchanged since June)
Founded: 2014
HQ: NYC
Funding via platform (lifetime): $2.5 billion across 2000 companies (company, April 2023)
Raised (for themselves): $214M including $150M in 2021 (Crunchbase)
Website visits: 460,000 (July 2023, SimilarWeb)
Employees: 545 (Pitchbook), unchanged since April
Article citations: 652 (Crunchbase)
LinkedIn: 26,000 followers (668 employees, down 20 since June)

2. StartEngine
FAB Score = 399 (up 20)
Founded: 2014
HQ: LA
Platform funding (lifetime): $615 million including $189M 2022 and $32M Q1 2023
Raised (for themselves) $87.6M (Crunchbase)
Website visitors: 1.2 million (July 2023, SimilarWeb)
Employees: 184 (Pitchbook), down 3 since June
Article citations: 354
Linkedin: 18,000 followers (182 employees, down 3 since June)

3. Wefunder
FAB Score = 271 (unchanged)
Founded: 2012
HQ: SF
Funding via platform (lifetime): $615M (company, April 2023)
Raised (for themselves): $22.2M including $12M in Nov 2022 (Crunchbase)
Website visits: 720,000 (May 2023, SimilarWeb)
Employees: 149 (Pitchbook), unchanged
Article citations: 147 (Crunchbase)
Linkedin: 14,000 followers (153 employees, up 6)

4. SeedInvest (acquired by StartEngine, August 2023)
FAB Score = 105 (unchanged)
Founded: 2011
HQ: NYC
Funding via platform (lifetime): $465 million (company, April 2023)
Raised (for themselves): $12.4M (Crunchbase)
Website visitors: 70,000 (July 2023, SimilarWeb)
Employees: 31 (Pitchbook), unchanged
Article citations: 562 (Crunchbase)
Linkedin: 14,000 followers (15 employees, down 8 since June)

5. MicroVentures
FAB Score = 93 (down 2)
Founded: 2009
HQ: Austin
Funding via platform: $450 million (company, April 2023)
Raised (for itself): $3.4M (Crunchbase)
Website visits: 43,000 (July 2023, SimilarWeb)
Employees: 26 (Pitchbook), unchanged
Article citations: 72 (Crunchbase)
Linkedin: 5,400 followers (75 employees, down 4 since June)

6. MainInvest
FAB Score = 26 (unchanged)
Founded: 2018
HQ: Salem, MA
Funding via platform (lifetime) $15M (Company, April 2023)
Raised (for itself): $3M (Crunchbase)
Website visits: 100,000 (July 2023, SimilarWeb)
Employees: 19 (Pitchbook) unchanged
Article citations: 8 (Crunchbase)
Linkedin: 1,600 followers (16 employees, down 1 since June)

7. Netcapital
FAB Score = 19 (up 2)
Founded: 2014
HQ: Boston
Funding via platform (lifetime): $11M (company, April 2022)
Raised (for itself): $2M including $1.7M in May 2023 (Crunchbase)
Website visits: 83,000 (July 2023, SimilarWeb)
Employees: 23 (Pitchbook), unchanged
Article citations: 97 (Crunchbase)
Linkedin: 2,400 followers (39 employees, unchanged)


Note: Equity Crowdfunding resources

  1. First Round Capital blog post