Crowdfunder and WestPark Capital Announce Strategic Alliance
LOS ANGELES, April 25, 2013 /PRNewswire/ — Crowdfunder, Inc. and WestPark Capital, Inc. are announcing a strategic alliance to help mobilize capital for small and medium businesses. Crowdfunder is an online business social network with approximately 19,000 users and a crowdfunding platform for fundraising. WestPark Capital is a full-service international investment banking firm committed to forging lasting partnerships with emerging growth companies and the investors who back them.
Through joint efforts, the companies will build on Crowdfunder’s platform to further develop business fundraising opportunities, including those arising from Title II and III of the JOBS Act of 2012. The strategic alliance will allow companies that have traditionally been unable to benefit from the services of investment banks, due to the high costs associated with strictly offline financial advisory services and underwriting, to access needed capital. Underlying the effort, a combination of emerging online processes and traditional regulatory body-mandated compliance will be utilized by Crowdfunder and WestPark to make investor protection a top priority.
The companies also envision expanding on their individual international efforts. WestPark has a long history of doing transactions with companies outside the US, and Crowdfunder already has a presence in Mexico.
“As an established financial services leader and Broker-Dealer, WestPark Capital is our ideal partner, and we’re thrilled to be working with them. Along with their unique experience and long standing innovative approach to early stage financing, WestPark brings trusted investment banking expertise and over 13 years of operating success to the relationship. They will serve as our guide and partner in providing strong investor protection safeguards, valuable network expansion opportunities, and a demonstrated expertise in accessing capital. Plus, the offices of Crowdfunder and WestPark are only eight miles apart, which will allow for great in-person collaboration. We look forward to a long and meaningful relationship–both for the good of our respective companies and the for the benefit of our growing network of successful businesses,” said Chance Barnett, Co-Founder and Chief Executive Officer of Crowdfunder.
As capital begins to shift from Wall Street to Main Street, Crowdfunder and WestPark aim to create a new early stage funding market for small and medium businesses, with goals of encouraging entrepreneurship, job-creation, and broader access to wealth-creation. Over 2,500 companies have already signed up on the Crowdfunder business social network, and some have already used its business contribution crowdfunding platform to raise funding.
“We are very pleased to be working with Crowdfunder, who is clearly on the leading edge of a global market that is gathering momentum and broadening its appeal for growing companies. The leadership at Crowdfunder is truly visionary and has set a path for success for its platform and for its partners that are sure to become the blueprint for the entire crowdfunding arena. Their commitment to supporting companies whose businesses are not only financially lucrative but also are socially and ecologically conscious and complementary is inspiring We look forward to a lasting bond and sharing of expertise between our two organizations for the greater good of the overall market and the investing public we serve,” said Jason Stern, Chief Operating Officer of WestPark Capital.
Crowdfunder, Inc. (www.crowdfunder.com) is a social network and business crowdfunding platform for entrepreneurs and investors to connect, crowdfund and grow. The company puts growth and fundraising tools in the hands of business owners and investors at all stages in the life cycle of a business. Based in Los Angeles, Crowdfunder is engaged in government and SEC & FINRA regulatory activity at the highest levels.
About WestPark Capital
WestPark Capital, Inc. (www.wpcapital.com) is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, SIPOs, and corporate finance advisory services. Member: FINRA/SIPC.
SOURCE Crowdfunder, Inc.