FrontFundr passes $500k crowdfunding target in three days

Canada-based crowdfunding platform FrontFundr has hit its own crowdsale target of $500,000, within three days.

The crowdfunding sale, which is live on the FrontFundr’s platform, is looking to hits its $1.5m hard cap, to support more SMEs.

FrontFundr is an online investing platform that helps Canadians to make direct investments in private companies. The platform allows consumers to back vetted businesses and cryptocurrency/blockchain companies from just $250.

Through the platform, businesses can raise between $100,000 and $5m from both institutional investors and general consumers. Other features given to the companies include a real-time campaign data, support mangers for the sale, securities compliance and legal document templates.

Since the platform launched in 2015, the company has helped raise over $8m for Canadian businesses.

FrontFundr CEO Peter-Paul van Hoeken said, “Achieving the goal so rapidly is an endorsement of the service we offer, and the desire for our backers to help us grow and support even more Canadian companies.”

The company previously raised $650,000 in a crowdfunding campaign on its platform in 2016.

Earlier in the year, the company formed a partnership with SeedUps to provide entrepreneurs with tools to access capital and support for growing their company.

Earlier in the week, digital payment platform Alipay formed a partnership with Canada-based Motion Pay Technology to support adoption of Alipay’s POS system in Canada.

Last year, the global funding platforms sector received a huge increase to funding during Q3, with it raising 1.5-times more capital than the other quarters combined.

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