KoreConX has launched an equity crowdfunding platform aimed at helping companies improve the efficiency of their equity crowdfunding processes. By using this platform, companies will be able to streamline a variety of crowdfunding activities which means reduced fees when compared to performing these activities via corporate documentation. This is a platform that will prove to be very beneficial for managing shareholders.
The launch follows the recent approval of Title III of the Jumpstart Our Business Startups (JOBS) Act by Securities and Exchange Commission (SEC). This approval is expected to increase the number of shareholders and deals in equity crowdfunding industry. It will also increase the need for improved risk and shareholder management systems. According to the new rules of Title III, anyone with an annual income of less than $200,000 or whose net worth is below $1 million, excluding primary residence, shall be allowed to invest in startups.
The KoreConX platform will help companies manage their businesses effortlessly and efficiently while ensuring transparency and good governance. Companies will be able to organize their information and share it with its members through one entry point. This enables members to access necessary information quickly, thus being able to track the progress of their investments with a click of a button.
Oscar A Jofre, founder & president of KoreConX, has expressed that the process of equity crowdfunding is currently broken and needs a profound transformation in order to become more productive and accessible to companies of all types and sizes. He added that KoreConX platform standardizes the process of information gathering and sharing for equity crowdfunding deals. The company is optimistic that the new platform will simplify equity crowdfunding and make it less expensive. It is with this optimism that they believe KoreConX will play an essential role in reforming the face of the crowdfunding industry as a whole.