- Rohan Shah, 19; Krish Dholakiya, 18; Ryan D'Souza, 19
Slice Capital is a mobile-based equity crowdfunding startup that allows individuals to invest in small businesses. It was founded by business and computer science students from the University of Pennsylvania and Rutgers University. The Philadelphia-based company aims to stand apart from the industry by allowing unaccredited investors (with a net worth of less than $1 million) to buy and sell shares of internally vetted private companies. Slice Capital also plans to significantly bring down its current investment minimum of $500, allowing individuals to invest smaller amounts in startups. The company, which has sought legal counsel to ensure it is in compliance with recent SEC crowdfunding rules, plans its public launch by mid-May.
Slice Capital has attracted funding from investors that include 123Invest, PennApps Accelerator, Weiss Tech House, and M&T Innovation Fund. The startup has also received signups, prelaunch, from about 15,000 interested investors. Recent legislation (effective May 16, 2016) allows small private companies to raise up to $1 million annually in online capital from the general public. Slice Capital provides the platform for companies to do so and will charge a fee of 1.5 percent on each funding round.