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The State of Crowdfunding: February 2025 Trends & Insights

The crowdfunding industry continues to evolve, with February 2025 offering key insights into how Regulation Crowdfunding (Reg CF) and Regulation A+ (Reg A) are shaping early-stage investing. While Reg CF saw a pullback in funds raised compared to January, the sector remains significantly stronger than last year. Meanwhile, Reg A continues to enable larger raises, but with fewer active campaigns.

Key Takeaways from February 2025:

Reg CF Performance

• Total Raised: $26.0 million (📉 23% MoM; 📈 35% YoY)

• Average Raise: $45.6K per campaign

• Active Raises: ~500 campaigns across platforms

• Top Platforms: StartEngine and Wefunder, holding 60%+ market share

Reg CF experienced a slowdown in February after an unusually strong January, dropping 23% month-over-month. However, compared to last year, the industry remains on an upward trajectory, growing 35% year-over-year. With hundreds of active campaigns, Reg CF continues to provide broad access to capital for startups.

Reg A+ Performance

• Total 2024 Capital Raised: $244 million (📈 7.5% YoY)

• Average Valuation: $90M median; $345M average

• Top Platforms: DealMaker Securities (51% market share), Dalmore Group, StartEngine

Reg A+ remains a platform for more mature companies seeking significant capital raises. The number of active offerings remains limited compared to Reg CF, but investor interest appears stable, with valuations reflecting confidence in later-stage startups.

Who’s Leading the Crowdfunding Market?

• Reg CF: StartEngine and Wefunder remain dominant, controlling a majority of funds raised. DealMaker Securities is gaining ground, attracting larger raises.

• Reg A+: DealMaker Securities leads, facilitating over half of all Reg A capital, followed by Dalmore Group and StartEngine.

Is the Crowdfunding Industry in Good Hands?

Despite fluctuations, the long-term trend in crowdfunding remains positive. The industry is maturing, with increasing investor trust and a growing pool of capital available for startups. However, concerns remain over sustainability—can platforms and companies continue delivering results that justify investor enthusiasm?

The true test will be whether companies funded through Reg CF and Reg A+ can succeed in the long run, rewarding their backers with strong exits or sustainable growth. The coming months will be crucial in determining whether this growth is built on solid ground or if further market corrections are ahead.

What do you think—is the state of crowdfunding in good hands?

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