Netcapital

What Netcapital does

Netcapital Inc. (Nasdaq: NCPL) is a Boston-based fintech company that has historically operated a digital private capital markets ecosystem, anchored by an SEC-registered funding portal at netcapital.com and the FINRA-registered broker-dealer subsidiary Netcapital Securities Inc. The platform enabled emerging growth companies to raise capital from accredited and non-accredited investors, with secondary trading capabilities delivered through an alternative trading system relationship with Templum Markets. Netcapital Advisors provided professional advisory and digital marketing services across verticals including biotech, technology, and public policy. Revenue was generated through transaction-based fees on capital raises, professional services fees, and consulting engagements.

The company's technology stack has expanded through multiple acquisitions and partnerships to include the NetNudge AI Agent Platform (acquired from Codesharp Corporation in May 2026), AI-driven design and rendering tools (acquired from Iverson Design in January 2026), Rivetz blockchain cybersecurity technology (acquired December 2025), and blockchain-based digital asset infrastructure developed with Horizon Globex GmbH and Silicon Prairie Holdings Inc. to support tokenized securities and real-world assets.

Under newly appointed CEO Todd Violette (April 2026), the company announced an exit from its legacy online capital formation and securities crowdfunding business to pivot toward AI-powered capital markets infrastructure, targeting recurring revenue from data-driven growth insights built on the company's proprietary dataset of historical fundraising campaigns. The pivot follows severe financial deterioration: Q3 FY2026 revenue of $94,000 (down 38.6% YoY), a FY2025 net loss exceeding $28 million, market cap compression from approximately $20M at the 2020 listing to roughly $3M in May 2026, and cash reserves of $715K as of Q3 FY2026. The company also signed a non-binding LOI in June 2026 to acquire Resmac, Inc. mortgage banking assets for $5M in stock, signaling a parallel expansion into residential mortgage services.

Name

Netcapital

Legal name

Netcapital Inc.

Website

https://netcapitalinc.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Netcapital Inc. (Nasdaq: NCPL) is a Boston-based fintech operating an SEC-registered funding portal and FINRA-registered broker-dealer, providing digital private capital markets services to emerging growth companies and accredited and non-accredited investors. The company is currently exiting legacy crowdfunding to pivot toward AI-powered capital markets infrastructure built on its proprietary fundraising dataset.

Ownership category

akta.pro rank

Product category

Private Capital Markets Platform

NAICS

Portfolio Management and Investment Advice (523940), Securities and Commodity Exchanges (52321), Other Investment Pools and Funds (5259)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access) (FSAGAEAL)

akta.pro secondary industries

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Prime Brokerage & Institutional Trading Services (FSAPADAF), Private Credit & Loan Tokenization Platforms (FSADAEAD)

Keywords

• Private capital markets
• Securities crowdfunding
• Online investment platform
• Capital formation services
• Funding portal technology

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

1. Funding Portal Transaction Fees: Netcapital operates an SEC-registered funding portal enabling private companies to raise capital from accredited and non-accredited investors. The platform generates transaction-based revenue from capital raises conducted on netcapital.com, historically the core revenue stream.
2. Netcapital Advisors Consulting Services: Professional investors and digital marketing experts offer strategic advice across verticals including biotech, technology, and public policy. Services range from strategic advice to raising capital for companies at all stages.
3. AI-Powered Capital Markets Infrastructure: Post-pivot strategy targeting recurring revenue from AI-powered tools that provide growth insights to client companies, leveraging proprietary dataset from years of private capital fundraising campaigns.
4. Tokenization and Digital Asset Services: New revenue stream from blockchain-based digital asset offerings including tokenized securities and real-world assets, with compliant primary issuance and secondary trading capabilities.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Netcapital operates a digital private capital markets ecosystem built around an SEC-registered online funding portal (netcapital.com) that enables emerging growth private companies to raise capital from accredited and non-accredited investors. The ecosystem is complemented by Netcapital Advisors (strategic advisory services), Netcapital Securities Inc. (a FINRA-registered broker-dealer for regulated capital formation), a beta secondary trading platform for private shares, and an emerging blockchain-based digital asset platform for tokenized securities. The company is strategically pivoting toward AI-powered capital markets infrastructure leveraging its proprietary dataset from years of historical fundraising campaigns.

Product overview

Netcapital is a digital private capital markets ecosystem consisting of multiple integrated products: the Netcapital.com online private investment platform (core product) enables companies to raise capital digitally from accredited and non-accredited investors; Netcapital Advisors provides professional advisory services; the SEC-registered funding portal and FINRA-registered broker-dealer (Netcapital Securities Inc.) enable regulated capital formation; and a Secondary Transfer Platform provides liquidity in privately held shares. Recent strategic pivot toward AI-powered capital markets infrastructure includes acquisitions of the NetNudge AI Agent Platform for enterprise automation and Iverson Design AI tools for visualization, plus development of blockchain-based digital asset capabilities for tokenized securities.

Differentiator

Problem solved

Functional benefit

Products and services

• Netcapital.com Online Private Investment Platform Online private investment platform enabling private companies to raise capital digitally from accredited and non-accredited investors. Provides access to pre-IPO investment opportunities and serves as the SEC-registered funding portal entry point for the Netcapital ecosystem.
• Netcapital Advisors Strategic advisory services team of professional investors and digital marketing experts offering strategic advice and capital formation services across verticals including biotech, technology, and public policy for companies at all stages.
• Netcapital Securities Inc. FINRA-registered broker-dealer subsidiary enabling expanded capital markets services including managed marketing campaigns, investor webinars, and improved analytics tools. Engaged for Regulation A+ offerings and expanded service capabilities.
• Secondary Trading Platform Platform providing potential liquidity in privately held shares through secondary trading capabilities for private securities, enabling investors to trade shares they previously could not easily exit.
• Blockchain Digital Assets Platform Blockchain-based digital asset infrastructure supporting tokenized securities and real-world assets with compliant primary issuance and blockchain-native secondary trading capabilities. PureWave Hydrogen Corp. was the first tokenization client engaged in January 2026.
• NetNudge AI Agent Platform AI-powered automation platform for enterprise workflows and customer engagement, acquired from Codesharp Corporation. Planned for integration into Netcapital's capital markets operations and potential licensing as a stand-alone AI service to other enterprises in private capital markets.
• Iverson Design AI Visualization Suite Proprietary AI-driven design, animation, and real-time rendering technology suite to enhance visualization of tokenized offerings for retail investors and issuers. Acquired from Iverson Design, LLC.

Quantifiable outcome

• MAGFAST raised more than $10 million through multiple offerings on Netcapital platform
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• PureWave Hydrogen Corp.coreStrategic or Co-development Partner · 12 January 2026First issuer of tokenized assets engaged by Netcapital. Netcapital commenced work with PureWave Hydrogen Corp. (TSX.V: PWH) for hydrogen drilling asset tokenization.
• Horizon Globex GmbHcoreTechnology or Integration · 19 November 2025Partnership to expand platform support for compliant blockchain-based digital assets including tokenized securities and real-world assets with compliant primary issuance capabilities.
• Silicon Prairie Holdings Inc.coreTechnology or Integration · 19 November 2025Partnership enabling blockchain-native secondary trading of digital securities, complementing the Horizon Globex primary issuance partnership.
• JD Merit Securities, LLCminorChannel Partner/ Reseller/ Distributor · 9 February 2023Referral agreement with JD Merit Securities, a leading boutique investment bank focused on serving middle-market technology companies.
• Templum Markets LLCcoreTechnology or Integration · 6 January 2023Alternative Trading System (ATS) partnership between Netcapital Systems LLC and Templum Markets LLC for secondary trading of private securities.

Scale indicators7 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• AngelList Venture: AngelList is a leading online platform for startup fundraising, syndicates, and rolling funds. Comparable to Netcapital's core offering of facilitating private capital raises for emerging growth companies, with a larger and more mature investor network.
• Wefunder: Wefunder is an SEC-registered funding portal enabling equity crowdfunding from accredited and non-accredited investors. Competes directly with Netcapital Funding Portal for issuer capital raises and investor engagement under Regulation Crowdfunding.
• SeedInvest: SeedInvest is an SEC-registered funding portal and FINRA-regulated broker-dealer focused on startup equity crowdfunding. Directly overlaps Netcapital's regulated capital formation stack and target issuer base.
• Republic: Republic operates a multi-jurisdiction private investment platform with SEC-registered funding portal, broker-dealer, and tokenization capabilities (Republic Crypto). Directly comparable to Netcapital's funding portal, advisor, and digital asset offerings, with overlapping issuer and investor audiences.
• StartEngine: StartEngine operates an SEC-registered funding portal and broker-dealer supporting Regulation A+, Reg CF, and Reg D offerings. Comparable to Netcapital's regulated funding portal and broker-dealer subsidiaries for raising capital from retail and accredited investors.
• EquityZen: EquityZen operates a secondary marketplace for pre-IPO company shares, comparable to Netcapital's Secondary Transfer Platform developed through the Templum Markets ATS relationship.

Broad incumbents

• Carta: Carta is the dominant cap table management and private market infrastructure platform. While it does not directly operate a funding portal like Netcapital, it is a broad incumbent serving the same private capital markets ecosystem with overlapping customer base of issuers and investors.
• Forge Global: Forge Global is a leading institutional secondary marketplace for private company shares with significantly greater scale and capital than Netcapital's secondary trading platform. Comparable in product offering (private share liquidity) though broader in market reach and sophistication.

Others

• KingsCrowd: KingsCrowd is a Netcapital portfolio company that aggregates and rates companies raising on platforms like Netcapital. While not a direct competitor, it sits within the same private markets ecosystem, trusted by 100,000+ investors for vetting startup investments.

Emerging players

• tZERO: tZERO operates a blockchain-based alternative trading system for digital securities. Comparable to Netcapital's blockchain/tokenization partnerships with Horizon Globex and Silicon Prairie, though more established in the security token space.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/netcapitalinc
• Facebookfacebook.com/NetcapitalInc
• LinkedInlinkedin.com/company/netcapital-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds7 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Netcapital