Crowdfunding is a process through which an individual or a business can raise small amounts of money from a large number of people, typically through the internet. The objective is to raise sufficient funds in order to carry out a specific project. There are different types of crowdfunding, such as by donation, pre-selling of products, and securities crowdfunding. This page discusses securities crowdfunding.

Start-up or early-stage businesses in British Columbia can use crowdfunding to raise money through issuing securities by meeting certain conditions. These guides assist funding portals, issuers, and investors understand the registration and prospectus exemptions that allow start-up and early stage businesses to raise capital.

Start-up Crowdfunding Guide for Funding Portals

Funding portals – whether operated by registered dealers or persons intending to rely on the registration exemption – should refer to this guide for assistance in understanding their regulatory obligations.

Start-up Crowdfunding Guide for Businesses

Start-ups and early stage businesses can use this guide to gain an understanding of their regulatory obligations and responsibilities to investors.

Start-up Crowdfunding Guide for Investors

Investors can use this guide to learn about the start-up crowdfunding process, where they can expect to find these offerings, and the risks related to these types of investments.

You can find more investor information on start-up crowdfunding on the BCSC’s investor education website,

List of Start-up Crowdfunding Portals

In BC, start-up crowdfunding portals must either be registered as a dealer or rely on an exemption from the requirement to register as a dealer. If a portal is registered as a dealer then that portal must give you advice about whether their investment products are suitable for you. If a portal is not registered as a dealer, and they are relying on an exemption from the dealer registration requirement, then although that portal may still operate, they are prohibited from giving you advice about whether the investment products they sell are suitable for you.

The following is a list of the start-up crowdfunding portals permitted to operate in BC:

Name of Portal Registration Status Website
FrontFundr Registered as a dealer
Consider Funding Exempt
Vested Exempt
GoTroo Exempt
StellaNova Exempt
InvestLocalBC Exempt
CanaDragon Enterprise Equity Crowdfunding Interchange Exempt

More information on private placement market investing is available in these two British Columbia Securities Commission guides: