When Vancouver-based RentMoola Payment Solutions reached the stage where many technology startups would seek financing from venture capitalists, Patrick Postrehovsky and his team made the decision to try “untraditional” methods of raising money.
The CEO and cofounder of RentMoola told the Georgia Straightthat, after tapping friends and family, the privately held company took advantage of securities regulations in British Columbia that permit it to sell shares to accredited and retail investors. Now, according to Postrehovsky, RentMoola is considering using new rules that allow startups to do equitycrowdfunding—which is legal here but not in Ontario and the United States—to raise money in relatively small portions from a large number of people.
Stephen Hui – Georgia Straight – July 2, 2015.
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