Equity Crowdfunding Platform FlashFunders Is Automating Securities Law For Seed-Stage Rounds | TechCrunch: "Thanks to the JOBS Act, the world of equity crowdfunding is blowing wide open. FlashFunders, an equity crowdfunding platform, is announcing a new program that automates the process for entrepreneurs, making it entirely free to raise or invest in a seed round. Most crowdfunding platforms like AngelList and FundersClub are used for a small portion of the round, facilitated online, and usually allow for much smaller checks to go into an SPV. With FlashFunders, the company offers that same functionality alongside the ability to send the FlashFunders listing to a VC firm like A16Z or Union Square Ventures to participate or even lead the round with a larger (>$25K) check, meaning the entire round is facilitated online. And beyond that, FlashFunders automates everything that a securities law firm like Cooley LLP would normally handle through integrations with Lexis Nexus, DocuSign, IRS, and the SEC Edgar Portal. Going through a securities law firm for an early-stage investment can cost a company between $10K and $30K, according to FlashFunders founders Vincent Bradley and Brian Park, and some will spend up to $80K on the process. With FlashFunders, a company not only gets to execute on the newfound ability to solicit their smaller deals and crowdfund that equity, but they get to do so without spending a dime on a securities law firm."
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