Crowdentials, an equity crowdfunding compliance software provider, today launched a unique open-source network for crowdfunding portals and issuers, a happening made possible by the new SEC rules.
Crowdentials will offer two products. The first is Crowdviction, an open-sourced mechanism where portals and investors considering involvement with an offering can conduct bad actor checks and received detailed reports with sources that can confirm bad actor status.
Quickcheck is an investor accreditation verification program which operates without the use of personal financial information.
“Our intention is to build the first network of crowdfunding and investment portals, investors, entrepreneurs and brokers online to provide the scalable, low-cost services startups need to raise money in a post-JOBS Act regulatory environment,” said Crowdentials CEO Rich Rodman in the release.
“When a crowdfunding portal or entrepreneur joins the Crowdentials Network, they gain access to all members’ databases to see if a potential investor has been verified elsewhere. This benefits investors and entrepreneurs by being a one-stop-shop for investor verification certification and bad actor checks and provides platforms with a value-added service to potential investors and issuers.”
Crowdentials is currently integrating additional platforms into its network. Participating platforms paying a monthly fee receive exclusive access to an API which allows them and their investors to view the Crowdentials network.
Crowdentials CEO Rich Rodman was interviewed by Bankless Times this February. Click here to read that interview.
Like this article? Take a second to support us on Patreon!