StartEngine, one of the largest securities crowdfunding platforms in the US, has filed a 10-K with the Securities and Exchange Commission (SEC) providing insight into its operations.
StartEngine’s primary business is enabling issuers to raise money under various exemptions, including Reg CF, Reg A+, and Reg D 506c.
In total, StartEngine reports 1,541,000 registered users, with approximately 391,000 having invested in the platform.
As of March 31, 2025, StartEngine reports having listed 1,312 Reg CF offerings raising over $545 million.
For the same time period, StartEngine has hosted 75 Reg A offerings, raising a total of approximately $282 million on the platform. This does not include five offerings for StartEngine itself and 33 offerings of series of companies managed by StartEngine Assets, LLC.
Reg D has recently become more important on StartEngine as secondaries (StartEngine Private) have increased in popularity.
Revenues totalled $48.625 million in 2024, almost doubling the $23.385 million generated in 2023. At the same time, the net loss increased slightly to $16.536 million in 2024 from $16.375 million in 2023.
StartEngine Private drove just about all of the increase as this segment went from $2,709,621 in 2023 to $27,883,143 in 2024.
StartEngine continues to raise money on its own platform to fuel its ambitions. The company notes that as of December 2024, it held $10.8 million in cash or cash equivalents, which are expected to cover the losses “for the foreseeable future.” From January 1, 2025, to March 31, 2025, StartEngine sold 1,922,194 shares of common stock in a Reg A offering for gross proceeds of $2,121,398.