BATON ROUGE – Moxey, a digital community currency and payment system accepted by more than 3,500 businesses in Louisiana, said it has been selected by crowdfunding service WeFunder to raise money on its platform.
“Today is an exciting day for thousands of local business owners and individual investors across the country,” said Charlie Davis, Moxey’s president and CEO. “We’re honored that so many of our customers are also investors in the company. Starting today anyone can join them by visiting WeFunder.com/Moxey .”
Equity crowdfunding was created by the Federal Government in 2012 as a way to let retail investors participate in the hottest startups traditionally reserved for only accredited investors. In 2020, more than 350,000 people invested over $214 million in private companies through regulation crowdfunding platforms, according to private market ratings and analytics platform Kingscrowd.com.
Moxey said it is raising up to one million dollars at a $6,450,000 dollar valuation, and shares are priced at $8.35.
On Monday, March 15, new equity crowdfunding guidelines will go into effect that increase the amount of money that companies can raise from $1M to $5M as well as raise the amounts that can be invested per person.
“Moxey is best described as a community of small businesses that help each other by providing two core solutions within the community: access to an interest-free line of credit, and revenue from new customers from within the Moxey community,” said Chip Davis, Moxey’s executive vice president. “Our fast-growing, proprietary platform gives small business owners access to an interest-free line of credit while driving new customer acquisition.”
Complete financial documents and investing instructions is available here.
