How Capital Flows Online: Platforms by Capital, Deal Volume, and Average Raise

A data-driven map of Reg CF and Reg A platforms: who leads on deal volume, average raise, and total capital—and what it means for founders and investors.

October 21, 2025

CHART OF THE WEEK 📈

By Sam Fiske | Read

Average Money Raised vs Number of Rounds by Platform - Reg CF

Data visual by Chris Martin. View the interactive version here

Chart of the Week: Where the crowd’s dollars actually land.


Across 1,099 Reg CF deals ($417M) and 66 Reg A deals ($535M), a few platforms dominate outcomes. Wefunder leads CF volume; StartEngine and DealMaker lift average check sizes. In Reg A, DealMaker Securities captures ~48% of all capital with >$17M average raises. We break down who’s winning on deal flow, average raise, and total capital—plus what it means for climate issuers.

Have a suggestion for a data story you’d like us to look into? Submit by replying to this email.

Franchise Investing 101: How to Earn Passive Income Without Running a Business

Join us on October 29th at 1pm ET for a live webinar with FranShares CEO Kenny Rose, who’s transforming how investors access franchise ownership. Learn how to earn passive income through diversified, SEC-registered franchise funds—and why this overlooked asset class offers strong regulation, stable returns, and long-term growth potential. RSVP below👇

UPCOMING EVENTS

Meet Kingscrowd at the CfPA Summit

When: Wednesday, Oct 22nd at the National Union Building

We’ll be in DC this week connecting with founders, platforms, and policymakers shaping investment crowdfunding—come say hi and swap insights.

KINGSCROWD PODCAST

By Sam Fiske / Watch | Apple | Spotify

Scott and Brian unpack Kingscrowd’s latest 650+-outcome dataset: failures fell from 2023 highs while exits stayed flat. Why it happened (rates, liquidity, AI efficiency, consolidation), how to log outcomes at tax time (edu only), and what to adjust in your portfolio this quarter.

• 650+ exits/failures tracked through Q4-to-date 2025
• Fewer shutdowns/bankruptcies vs. 2023; exits still muted
• Portfolio tactics: sizing, risk buckets, time-to-liquidity
• Where to explore: Chart of the Week, Funding Reports, Deal Explorer, Portfolio Tool

PITCH REVIEW 💸

By Teddy Lyons \ Deal Report

Brief: Groomit is an on-demand pet-care platform that brings mobile and in-home grooming to your driveway with a few taps. The company operates a growing fleet of custom vans and a vetted marketplace of groomers across 10,000+ zip codes.

Teddy’s Take: I’ve always said that humans don’t deserve dogs… they’re simply too good for us. As Mark Twain put it, “The more I learn about people, the more I like dogs.” Endlessly loyal, dogs don’t care about your status, your mistakes, or your bad day. They’re just happy you came home. If you’re lucky enough to have a furry companion, you probably hate the fact that your pet needs grooming every few months (and your dog probably hates it too). Booking can take weeks, appointments get rescheduled, and finding a reliable groomer can feel impossible. 

An interesting company that came across my radar recently is Groomit. The company’s service is simple: tap to book, a pro arrives in a custom-fitted Groomit van, and your dog is back on the couch in under an hour. 

Interestingly, Groomit does not buy vans. Outside investors purchase and retrofit each van for about twenty thousand dollars, then earn a cut of every completed job. The groomer keeps the majority, Groomit keeps its platform take, and a small slice goes to the fleet manager that handles dispatch and maintenance. The result is a capital light model that scales without loading the balance sheet. There are more than eighty Groomit vans on the road and a pipeline of investors ready for many more.

The demand for Groomit’s services are clear, having hit $10M in ARR this year. About seventy percent of bookings come from repeat customers. Same day and within forty eight hours availability is common, which is rare in this category. The team also rolled out recurring plans every four to twelve weeks, with most customers who try it sticking with it. 

The model also works beautifully for groomers. Traditional grooming employers pay hourly wages and keep a large portion of every service. Groomit lets groomers operate as independent professionals, keeping the majority of each booking while the platform handles scheduling, marketing, and customer acquisition. They choose when and where they work, avoid salon overhead, and often make more per appointment. It’s a rare win-win marketplace where the worker’s incentives align directly with customer satisfaction.

While this type of marketplace can be slow and expensive to scale, I’m impressed with the traction and clear product-market-fit it has found.

Definitely one to take a closer look at.

STAFF PICKS 🌶️

By Teddy Lyons

Hoot Health helps doctors save time by sending patients easy, condition-specific videos straight to their phones. Trusted by 100+ practices and backed by a former Pfizer CEO, the company is expanding its AI platform to make specialty care easier to understand.

By Teddy Lyons

Harmony Turbines is developing quiet, efficient residential wind turbines that generate power even in storm conditions. With patents secured and thousands of early adopters on their waitlist, the team is raising funds to launch commercial production.

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