NY-based Republic, an investment platform to invest in private deals, startups, real estate, video games and crypto, raised US$ 36M in a Series A funding round on 17 March 2021.
Investors: The funding round was led by Galaxy Interactive with participation from Tribe Capital, Motley Fool Ventures and Broadhaven Ventures. Prosus Ventures made a strategic investment in Republic by purchasing Republic Notes, a novel digital security.
About Republic
Founded in 2016 by Kendrick Nguyen, Léo Galley, Paul Menchov and Peter Green, Republic curates private investment opportunities with high-growth potential across startups, gaming, real estate and crypto. It believes that sought-after investment opportunities should not be limited to bounded networks of investors and people should be able to invest in what they believe in. Anybody can invest through the Republic platform. The company claims to have facilitated over US$ 300 million in investments and has over one million members.
Republic is also one of the first few fintechs to embrace cryptocurrencies. It has created the Republic Note, a profit-sharing digital security that aligns the incentives of the community with activity on the Republic platform.
How it works: The platform is highly selective. Less than 3% of startups that apply, pass through its due diligence and investment committee. The investors can sign up on the platform for free and receive top-rated customer service. People can invest as low as US$ 10 and build a more diversified portfolio. The investors first choose a startup that they like by looking at pitch, terms etc. They can invest a small amount in the beginning and wait to see if the startup succeeds.
What the CEO has to say: “We have entered a new era of investing, one in which all stakeholders of a business can become shareholders. The support of marquee institutional investors in Republic’s funding round is indicative of the vast potential of our mission: to enable investors everywhere to align their passion with profit.” — Kendrick Nguyen, CEO of Republic.
What the investors have to say: “Prosus Ventures has a strong history of being an early investor in businesses that target big societal challenges, and Republic has created a platform that has the potential to break down the systemic barriers that exist in the funding process. Republic’s continued growth will enable more entrepreneurs from underrepresented groups to raise funds beyond the usual gatekeepers, and investors will be able to help businesses they are passionate about when they need it most.” — Banafsheh Fathieh, Head of Americas Investments at Prosus Ventures.
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