Successful campaign demonstrates commitment many people have for a world powered by solar energy.
Powur PBC, an international renewable energy platform, set a world record on May 19, 2017 for the fastest company to raise $1,000,000 in equity crowdfunding after the completion of a recent Series 4 capital raise on according to WeFunder.com, a crowdfunding service that connects startups with investors online.
The passing in 2016 of the Regulation Crowdfunding provision of the JOBS Act (Jumpstart Our Business Startups) allowing equity crowdfunding caused an explosion of entrepreneurial companies looking to raise capital from the crowd.
The previous record holder, Beta-Bionics, raised $1,000,000 in 64 days. Powur's campaign set the new record in 26 days.
Powur CEO Jonathan Budd said: “Solar energy is a growing, unstoppable force still in its early stages. Powur aims to accelerate society’s adoption to solar even faster. The success of this campaign is a clear symbol of the strength of our network and the commitment many people have for a world powered by solar energy.”
WeFunder.com Director Dylan Enright said, “Powur smashed previous records on our platform in the first seven days, raising over $550,000. We’re excited to see equity crowdfunding continue to make a difference for companies, and provide opportunity as unaccredited investors realize they can be owners of companies they believe in while still private.”
Powur is a first-of-its-kind platform for renewable energy worldwide.
The company has built an international network of Powur Advisors -- home-based solar entrepreneurs who use Powur’s platform to build and operate their own solar sales businesses.
Additionally, Powur has developed proprietary technology to enable its Advisors to provide solar systems to their customers through an international network of solar providers.
With over 45 solar installers on its platform, Powur covers 29 U.S. states, with recent expansion into Canada, Puerto Rico, and Australia.
“This is only the beginning,” Budd said. “We see solar as a multi-trillion-dollar market in the next two decades, and Powur as the category creator for solar and direct selling. We have big goals for this business to reach millions of homeowners and create billions in sales commissions for our Advisors. It’s a lofty vision, but the stakes for our environment have never been higher.”
Budd said the company would consider raising an additional crowdfunding round in 2018 to continue to expand its operations worldwide, while creating more valuable products for its ecosystem of customers, advisors, and solar installers.
Founded in 2015, California-based Powur PBC is on a mission is to accelerate the adoption of solar energy worldwide.
Its proprietary software platform allows its 3,000+ independent contractors to introduce customers to solar via a variety of channels, track customers through the solar cycle, as well as build, monitor and grow their own independent sales organization.
For more information, visit https://www.powur.com.
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