OLB’s CrowdPay Facilitates SMB Crowdfunding Under New SEC Rules
The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions and secure investment vehicles for small- and mid-sized merchants, announced its CrowdPay cloud funding platform for issuers and broker-dealers simplifies capital raise activities for small- and medium-sized businesses in compliance with recently updated Securities and Exchange Commission (SEC) rules.
CrowdPay is a scalable turnkey software platform for equity crowdfunding. The solution includes an intuitive website builder, support for mobile and all computer platforms, integrated investor accreditation, ID verification, payment options, and online escrow capabilities to address the needs of nearly any fundraise activity. With built-in Compliance Platform Technology, CrowdPay includes forms, digital signature support, and integration with multiple third-party applications and services.
The platform enables investors and businesses to participate in fundraising activities in accordance with the SEC’s recent rule change to expand access to capital for small- and medium-sized businesses and entrepreneurs. Under the amended rules, crowdfunding campaign raise limits have increased from $1.07M to $5M and amended investment limits for individual investors to (i) remove the investment limits completely for accredited investors and (ii) use the greater of their annual income or net worth when calculating their investment limits for non-accredited investors. These relaxed limitations will enable broader investment participation by interested parties.
“The SEC’s recent rule changes can help small businesses substantially improve their ability to quickly raise capital,” said Ronny Yakov, chief executive officer of OLB. “The CrowdPay platform is well positioned to help Broker-Dealers create and manage crowdfunding campaigns for businesses from start to finish.”
CrowdPay is SEC, Financial Industry Regulatory Authority (FINRA), and Broker-Dealer compliant for Reg A+, Reg D 506(b) & 506(c), Regulation Crowdfunding, U.S. Intrastate, and International compatible.
To learn more about CrowdPay from OLB, please visit https://crowdpay.us/.
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