Republic raises $36mn in Series A funding led by Galaxy Interactive
By Pavithra R
New York-based Republic, missioned to democratize investing, has announced the initial closing of its $36mn Series A fundraising led by Galaxy Interactive.
The investment round saw participation from Tribe Capital, Motley Fool Ventures, and Broadhaven Ventures. Additionally, Prosus Ventures (formerly Naspers Ventures) made a strategic investment in Republic through a purchase of Republic Notes, a novel digital security. These firms are positioned to provide the Republic’s community with access to high-quality deals and drive investment towards the founders building the next generation of household brands.
Founded in 2016, Republic is a leading private investment platform with $200,000,000+ invested by 700,000+ people in over 250 deals. The FinTech was built on the principle that sought-after investment opportunities should not be limited to small, closed networks of investors and that people should be able to invest in the future they believe in.
“Prosus Ventures has a strong history of being an early investor in businesses that target big societal challenges, and Republic has created a platform that has the potential to break down the systemic barriers that exist in the funding process. Republic’s continued growth will enable more entrepreneurs from underrepresented groups to raise funds beyond the usual gatekeepers, and investors will be able to help businesses they are passionate about when they need it most,” said Banafsheh Fathieh, Head of Americas Investments at Prosus Ventures.
On the Republic platform, anyone can invest across startups, crypto, gaming, real estate, and small businesses. The company has over 1 mn members, who to date have invested more than $300 mn in offerings under Regulation Crowdfunding (Reg CF), Reg A and Reg D. It provides curated deals for investors of any experience levels and interests while empowering founders with access to a diverse and engaged investor base.
Earlier this month, Republic announced expanding its crypto offerings and will be hosting digital asset sales on the platform, allowing blockchain projects to sell native digital assets to both U.S. and non-U.S. participants.
“We have entered a new era of investing, one in which all stakeholders of a business can become shareholders. The support of marquee institutional investors in Republic’s funding round is indicative of the vast potential of our mission: to enable investors everywhere to align their passion with profit,” stated Republic CEO Kendrick Nguyen.
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