A partnership between New York City based GrowthFountain, an equity crowdfunding platform, and $7.6 billion, Marlborough, Mass.-based Digital Federal Credit Union enables entrepreneurs to raise capital and members to invest.
Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the internet.
The JumpStart Our Business Startups Act, or JOBS Act, which passed in 2012, encourages small business funding in the United States by reducing many securities regulations. Under SEC new rules effective May 16, 2016, the public can now help finance start-up companies.
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