June 24, 2014

Update on Wisconsin Crowdfunding

The Wisconsin intrastate crowdfunding law went into effect June 1. Since then the new law has garnered great interest and we've fielded many questions about the status of our site.

CraftFund was the first site to register with the Department of Financial Institutions as an internet site operator.  This means that Wisconsin food and beverage companies can legally sell equity to Wisconsin residents through our site.  The only holdup that remains is securing a Wisconsin bank to serve as escrow agent pursuant to the state law.  While the holdup has been unfortunate and frustrating, we expect this to be resolved shortly.  At that point in time our full platform will "go live" and Wisconsin residents will be able to create an investor account, certify their residency, and browse local food and beverage equity offerings.  

Until then, potential investors can register as users on our site.  We will notify all users when we go live in the coming weeks.  Wisconsin is on the cutting edge of innovating the way small businesses raise capital. Stay tuned!

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