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VerifyInvestor.com, a Los Angeles startup working to provide investors and companies access to new fundraising opportunities, has launched its online accredited investor verification service platform and is expected to deliver a convenient and cost-effective means of verifying whether investors meet federal standards for “accredited investors.”
The product’s launch is timed with the recent implementation of the “Jumpstart Our Business Startups Act,” or “JOBS Act,” which lifted the decades-old ban on general solicitation of private investments – provided that companies take “reasonable steps” to ensure that their investors are verified accredited.
“The JOBS Act revolutionizes how companies raise money and opens up greater opportunities as well as greater risk,” said co-founder, Jor Law, who is an experienced corporate and securities attorney. “VerifyInvestor.com helps companies meet their legal compliance obligations while protecting investors.”
While many experts have argued that requiring companies to verify investors’ income and net worth makes it cost-prohibitive for them to publicly advertise fundraising opportunities, VerifyInvestor.com’s cost-efficient verification solutions aim to alleviate this burden to companies.
Prospective investors must simply answer a few questions and submit financial or other documents to prove their accredited status. The verification review is conducted by certified lawyers in a double-blind review process that ensures the user’s confidentially and privacy of sensitive financial information.
Read more here: https://www.heraldonline.com/2013/11/18/5419479/startup-verifyinvestorcom-offers.html#storylink=cpy
