Tribevest Adds Over 400 New Investors in Fundraising Round through Wefunder
COLUMBUS
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October 24, 2022 09:25 AM Eastern Daylight Time
Tribevest, the leaders in community finance and group investing, announced it raised over $875,000 at a $20 million valuation through a fundraising round that closed this month via Wefunder. Over 400 investors participated in the round after Tribevest’s customers overwhelmingly requested to invest in the company, which allows friends, family, and like-minded people to easily and safely invest as a group.
“I’m overwhelmed by the support of our Tribevestors who believe in the power of personal community finance,” said Travis Smith, Founder and CEO of Tribeveset. “As we bring more and more tribes onto our platform, the number one question we receive is, ‘how do we invest in your company and be part of this journey with you?’ We’re built on the concept that you can accomplish more as a team. That is what this round represents.”
Tribevest closed a $3 million seed round in January of 2022 through major investor partners, including I2BF Global Ventures, Mucker Capital, Gaingels, Vibe Capital led by Teachable Founder Ankur Nagpal, and Ryan Leslie, the Grammy-nominated recording artist.
Tribevest’s platform allows investor groups to form LLCs quickly, create operating documents, establish their FDIC bank accounts, and handle annual compliance. Through Tribevest’s collaborative dashboard, investor tribes can access their records, pool capital, and transact as a single entity. Based in Columbus, Ohio, Tribevest started in 2018 after its founder struggled with the process, roadblocks, and fees required to invest as a group with his brothers.
“For founders, pulling off a Community Round is one of the strongest indicators that you’ve built something successful,” said Jonny Price, VP of Fundraising at Wefunder. “It’s the highest validation from the market.”
To date, over 15,000 Tribevestors have started their group investing journey through the platform and have deployed over $36 million in capital. Average monthly deposits through Tribevest exceed $3 million and the company is on pace to 5x their revenue in 2022.
More than half of the tribes invest in more than one asset class. Real estate investments lead the way, with 53% of tribes investing in multi-family properties, 32% investing in single family rentals including vacation homes, and another 32% in syndications. Tribes invest in small business ventures 45% of the time, while 24% invest in stocks, 22% invest in cryptocurrency, and 7% invest in collectibles.
About Tribevest
Founded in 2018, Tribevest is a collaborative, group investing platform that enables friends, family, and like-minded people to organize as an investor group, pool money, and manage co-owned investments. Based in Columbus, Ohio, Tribevest was founded by entrepreneur Travis Smith. Tribevest believes that forming and funding small to mid-sized investment groups will allow the general U.S. population to uncover a wealth of viable investment pathways to achieving personal financial freedom. Learn more about Tribevest at Tribevest.com or follow the company on LinkedIn, Twitter, Instagram, and Facebook.
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