FundPaaS Launches Crowdfunding Investment API
San Francisco-based startup FundPaaS is launching a unique API to convert customers into direct investors.
The FundPaaS platform allows businesses to receive funding from customers visiting the company’s website directly through their API. The platform takes advantage of the new Regulation A+ provision found under Title IV of the JOBS Act passed in 2013. This provision opens up investing to everyone, not just accredited investors.
One unique contribution of the API is the security and metric features. The platform will provide insight into investor data, such as ID verification, investor accreditation (if any), money laundering protection, and credit checks.
This allows businesses a level of protection from potentially harmful investors, rather than opening the flood gates to any and all who wish to invest. The platform allows companies to receive crowdfunded investments, often times referred to as “mini-IPOs,” directly from customers while also sorting and filtering investors based on select criteria.
FundPaaS calls themselves an “API-first” company, meaning all of their services are provided through their APIs. The security platform, dubbed the “Onboarding” API, will automatically verify income, assets and 3rd party verification so businesses don’t have to outsource verification services.
FundPaaS is also developing plans to provide mobile crowd sourcing opportunities as well as mobile online payments. All of FundPaaS APIs use a vast network of resources, including IRS records and credit bureau databases.