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WIRE: Fundanna launches crowd funding site for the cannabis industry

Fundanna by truCrowd Inc – the first Regulation Crowdfunding  (Reg CF) portal in the USA for cannabis businesses, has been approved by the SEC and is now open for business.

New regulations in the crowdfunding space and the cannabis industry have made it possible for Fundanna to build the first portal dedicated exclusively to the cannabis sector. The company provides legal access to online cannabis investments to non-accredited investors and a new alternative to traditional sources of financing for Cannabis start-ups.

Starting May 2016, the Reg CF allows US growing businesses to raise up to $1 million per year from non-accredited investors by selling equity via a registered funding portals as Fundanna. Before only the wealthy were allowed to buy shares in start-ups. Now, anyone can invest up to 5% of income if less than $100,000 or 10% otherwise over a 12-month period. The companies must file information with the Commission and disclose information to investors and the intermediary facilitating the offering, including: description of the business and the use of proceeds, information about officers and directors, the price of the offered securities, the target offering amount, and financial reports.

The portal already listed the first investment opportunity. NextRX is a Reward Membership Network. It provides easy access and check-in for medical dispensaries patients through an exclusive RX-Pass system while enabling patients to accumulate membership rewards.

The company has already registered 16,000 patients through a few beta user dispensaries. The vision is to develop the Rewarding Membership Network where patients earn points for their purchases that are used as cash at all subscribing marijuana dispensaries.

“It is a big deal for the cannabis companies to be able to offer securities to the public and remain private companies,” says Vincent Petrescu, CEO of Fundanna. “Just imagine the potential of turning your existing user base into investors. Besides the money raised, the company will benefit of a loyal client/investor base. I think that the truism “I stop drinking Coca Cola after I invested in Pepsi” it is very applicable here.”

“From fighting cancer to preventing diabetes, cannabis is one of the most versatile plants in the world. As we bring it out of the dark it continues to demonstrate its benefits to the future of the health and wellness and to the economy of our country,” says Claudia Ecobici, Co-Founder of Fundanna. “Funding is one of the top challenges, as banks and lenders have limitations when considering a loan to “sin” based businesses and angels are risk averse to early stage companies. Fundanna’s goal is to support the industry’s growth by giving investors access to cannabis investments and entrepreneurs the chance to get their first round of funding and build their company.” We process loan application fast and easy try it now take a look at the site here.

About truCrowd

​​Located in the heart of the financial district of downtown Chicago, truCrowd is an equity crowdfunding portal registered with FINRA operating under Regulation Crowdfunding (Title III of JOBS ACT). It connects startups and emerging businesses with non-accredited and accredited investors from US and abroad. The company’s newest brand Fundanna is the first portal providing funding and investing services to cannabis businesses, under Reg CF.

Source: truCrowd

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