BitPay has announced that investors can now use Bitcoin with equity crowdfunding platform WeFunder. This is thanks to last year’s U.S. JOBS Act, which allows non-accredited investors to inject capital into a private company. Since the regulatory policy change, WeFunder and BitPay integration users can invest their bitcoins in a variety of startups across the states.
BitPay & WeFunder Remove Barrier to Entry for Investment With Bitcoin
WeFunder says it takes the “hassle out of fundraising.” However before May 16th, 2016 only the extremely wealthy could invest in high growth startups.
Thanks to the JOBS Act, WeFunder wants anyone to invest in companies they believe in. By allowing Bitcoin, the company is including more in the investment space. Typically, certain investors and non-US citizens looking to fund American startups would have to rely on traditional bank transfers. Now with the Bitcoin network, available to everyone globally, WeFunder users can save on ACH transfer costs.
Bitpay explained in its recent announcement with WeFunder:
“WeFunder is the first equity crowdfunding platform to accept bitcoin, but it’s also an early leader in the regulated crowd equity space. Before the passage of last year’s JOBS Act, non-accredited investors with net worths under $1 million could not invest in private companies’ equity crowdfunds. Since these regulations were lifted, WeFunder has worked to allow dozens of companies to raise money from non-accredited investors on its platform.”
Airbitz Joins the WeFunder Platform
Bitcoin-based business Airbitz is one of the companies joining WeFunder’s campaign. The startup said “we are incredibly excited to share that we’ve opened up a 30-day window for equity crowdfunding a significant portion of our current funding round using Wefunder.com.” It believes it’s making history by allowing all investors to participate and take advantage of this opportunity.
The company has already received a lead investment injection from Lakeshore Energy Capital. However, it is also thrilled to enable investment opportunities for everyone around the world. Airbitz believes it will be the first US-based company blockchain focused startup that takes advantage of the U.S. JOBS Act.
“Unlike some other crowdfunded crypto projects, you’ll have equity in the company you’re investing in. And to add to the historic nature of our offering, we worked closely with Wefunder and BitPay to ensure that crypto lovers would be able to invest in Airbitz – and every other company on Wefunder – using bitcoin instead of fiat currency. This is truly groundbreaking, and we are extremely excited to be at the forefront of not only data security but financial inclusion,” Airbitz COO Will Pangman explained in a press release.
WeFunder With Bitcoin Opens Doors to Investment Vehicles for Everyone
There are many other companies included within the WeFunder interface for investors to research. Other startups include the veterinarian application VetPronto, the IoT startup Mobodexter, and many others. WeFunder wholeheartedly believes everyone should be able to invest in these types of companies.
The JOBS Act policy change, with the addition of cryptocurrency funding, takes investment out of the hands of Wall Street.
“Out-of-touch bankers on Wall Street don’t take any risks for Main Street. Let’s re-create a world where friends and local communities can invest in their neighbors, like great-grandpa once did it,” explains WeFunder.
What do you think about WeFunder becoming the first equity crowd funder to accept Bitcoin? Let us know in the comments below.
Images via Shutterstock, WeFunder, and Airbitz.
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