Fundrise Parent Blows Out Reg A Offer

Rise Companies, the holding company for the Fundrise online real estate crowdfinance platform, has broken a record for funds raised in a Regulation A Tier 2 offering, pulling in $14.6 million in 24 hours of initial selling.

The company’s initial offering filing on December 29 for a maximum raise of $10 million was approved by the Securities and Exchange Commission in just 30 days. The company began selling shares on February 1. To accelerate the process only investors who had previously invested in Fundrise deals or were early investors in the company were allowed to participate in the offer.

SEC Forum Takes Stock of Reg A+ Market Progress

The Securities and Exchange Commission held its annual open meeting on November 17 seeking feedback from dealmakers in the emerging growth finance market on the impact of newly enacted reforms to Regulation A on capital formation by small businesses.