New York-based investing platform, Republic has reportedly acquired Arora Project, an equity crowdfunding agency that helps investors rapidly scale their ventures. The deal took place after the firm successfully raised a $150 million Series B fundraise.
Krishan Arora, CEO and founder at Arora Project, refused to disclose the exact transaction amount; however, he hinted that it is a multimillion-dollar deal.
Republic has been functioning for the last five years. It is well recognized for simplifying crowdfunding campaigns for startups and small businesses under the rule Reg CF, which allows non-accredited investors to participate in private funding rounds.
The startup's reputation grew when recently the SEC raised the capital for the amount of money that can be raised via Reg CF, to $5 million from $1.07 million per year, steering in a new movement of startups that can raise useful money from their communities.
For the record, Miami-based Arora Project is a digital media agency. It aids companies to build campaigns to post on crowdfunding platforms like StartEngine, WeFunder, or Republic.
Reportedly, it has helped founders raise approximately $100 million in capital since established in 2016.
In a statement, Arora said that the firm is a management consultant. Founders come to their firm, and they direct them to the right platform. It further helps them develop all of the content, manage the data analytics acquisition, and get them the funding needed so that they can focus on operating their business rather than on finances.
As a result of the acquisition, Arora will now have an exclusive collaboration with Republic.
Furthermore, Republic's retail, equity crowdfunding investing side will benefit first from Arora Project's marketing expertise. Arora will ultimately be integrated into Republic's other subsidiaries, including a private capital division, a blockchain incubator and fund, and a compliance-focused digital securities marketplace.