SeedInvest, a crowdfunding website that was co-founded by St. Louis native Ryan Feit, has raised more than $4 million to help grow its team and compete with established crowdfunding services such as AngelList.
Most of the Series A financing came from its own users. According to VentureWire, $2.15 million of the round came from 42 accredited angel investors using the SeedInvest platform. The rest was raised by venture capital firms.
SeedInvest uses new rules set forth in the JOBS Act that allow startups to generally solicit for funding.