US-based Onevest raises $2m Series A on own platform, expands team

Onevest co-founder and executive chairman Alejandro Cremades.

New York-based online network and transactional platform, Onevest has achieved its targeted $2 million in Series A fundraising via a round of self–crowdfunding, carried out on its own platform.

The startup investment and equity crowdfunding platform completed its fundraising with four days to spare before the close of this round of funding.

Onevest noted in a statement that it has been able to close the funding in a month, where it would normally take on an average of four to eight months in the offline world for a tech startup of its size.

In a statement, the company said it launched the Rule 506c offering to raise funds for itself, celebrating the implementation of Title IV of the Jumpstart Our Business Startups Act (JOBS) Act in the US.

According to the US Securities and Exchange Commision’s explanation, under Rule 506c, issuers can offer securities through means of general solicitation, provided that all purchasers in the offering are accredited investors, the issuer takes reasonable steps to verify their accredited investor status, and certain other conditions are satisfied.

506c offerings, in a nutshell, are different from crowdfunding initiatives in that it has fewer restrictions than crowdfunding, except when it comes to who can invest, where the rules are stricter for a 506(c) offering.

Onevest’s leading startup investing marketplaces has over 80,000 entrepreneurs and 15,000 investors registered.

“Onevest has a unique approach, as it captures deal flow at the formation stage via its co-founder matchmaking property site, CoFoundersLab, which gives Onevest six months to one year in advance to build the relationship with the company before the entrepreneur is ready to seek a round of financing,” it said in its press statement.

Via the CoFoundersLab, Onevest is onboarding over 2,000 registered entrepreneurs to its ecosystem every month.

Executive chairman Alejandro Cremades said: “Today we have put a dent in the universe by changing the game of fundraising online. We are lucky and honored to be part of an industry that is revolutionizing what has been an old and outdated model that clearly needed a healthy disruption.”

The company is already putting the capital to work as it has hired a new CFO, Barry Shereck, who has more than 30 years of experience in financial management with early stage companies and has taken four companies public.

Onevest also hired Erica Duignan as the head of deal flow to hone in on bringing high quality startups on its marketplace and to build a world-class team of venture associates, it said.

Duignan is joining Onevest from the renown accelerator program Dreamit Ventures, where she was a managing director focused on company recruiting, fundraising and developing investor relationships.

Co-founder and CEO Tanya Prive noted briefly in an email that Onevest’s fundraising efforts is expected “to continue to unfold positively as time goes on”.

Also read:

New York-based Onevest launches Series A financing

Malaysia’s Securities Commission allows 6 players to launch equity crowdfunding services

Malaysia first in ASEAN with crowdfunding legal framework

SGX gives S$1.5m grant to develop equity crowdfunding platform CapBridge

SGX, VC firm launch equity crowdfunding joint venture

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.